Bank of New York Mellon Corp Increases Stake in Vivint Solar, Inc. (VSLR)

Bank of New York Mellon Corp boosted its position in Vivint Solar, Inc. (NYSE:VSLR) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,176 shares of the semiconductor company’s stock after buying an additional 914 shares during the period. Bank of New York Mellon Corp owned 0.14% of Vivint Solar worth $426,000 as of its most recent SEC filing.

Vivint Solar, Inc. (NYSE VSLR) opened at 5.05 on Friday. The firm has a market capitalization of $558.41 million, a P/E ratio of 9.40 and a beta of -0.25. Vivint Solar, Inc. has a 1-year low of $2.50 and a 1-year high of $6.09. The company has a 50-day moving average price of $5.28 and a 200-day moving average price of $3.58.

Vivint Solar (NYSE:VSLR) last posted its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by $0.02. Vivint Solar had a negative return on equity of 29.10% and a net margin of 36.54%. The company had revenue of $53.11 million for the quarter, compared to the consensus estimate of $47.09 million. During the same quarter in the previous year, the firm posted ($0.65) EPS. The business’s revenue for the quarter was up 208.2% compared to the same quarter last year. On average, equities research analysts predict that Vivint Solar, Inc. will post ($1.74) earnings per share for the current fiscal year.

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A number of equities analysts recently commented on VSLR shares. Credit Suisse Group set a $4.00 price target on Vivint Solar and gave the stock a “hold” rating in a research note on Monday, May 8th. Zacks Investment Research upgraded Vivint Solar from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research note on Thursday, May 11th. Goldman Sachs Group, Inc. (The) upgraded Vivint Solar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $3.50 to $6.00 in a research note on Tuesday, June 20th. Finally, ValuEngine upgraded Vivint Solar from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Vivint Solar has a consensus rating of “Hold” and a consensus price target of $5.32.

In other news, insider L. Chance Allred sold 30,700 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $3.10, for a total transaction of $95,170.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Bryan Christiansen sold 27,033 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $5.50, for a total transaction of $148,681.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 855,561 shares of company stock worth $3,394,270. Insiders own 4.50% of the company’s stock.

About Vivint Solar

Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.