Public Sector Pension Investment Board buys $44,374,174 stake in SolarCity Corp (SCTY)

SolarCity Corp (SCTY) : Public Sector Pension Investment Board scooped up 1,697,328 additional shares in SolarCity Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 1,872,328 shares of SolarCity Corp which is valued at $44,374,174.SolarCity Corp makes up approximately 0.53% of Public Sector Pension Investment Board’s portfolio.

Other Hedge Funds, Including , Credit Suisse Ag boosted its stake in SCTY in the latest quarter, The investment management firm added 581,942 additional shares and now holds a total of 645,499 shares of SolarCity Corp which is valued at $15,298,326. SolarCity Corp makes up approx 0.02% of Credit Suisse Ag’s portfolio.Tower Research Capital (trc) boosted its stake in SCTY in the latest quarter, The investment management firm added 2,420 additional shares and now holds a total of 2,747 shares of SolarCity Corp which is valued at $65,104. SolarCity Corp makes up approx 0.01% of Tower Research Capital (trc)’s portfolio.Shelton Capital Management boosted its stake in SCTY in the latest quarter, The investment management firm added 7,603 additional shares and now holds a total of 30,403 shares of SolarCity Corp which is valued at $738,793. SolarCity Corp makes up approx 0.06% of Shelton Capital Management’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in SCTY by selling 215,595 shares or 98.49% in the most recent quarter. The Hedge Fund company now holds 3,296 shares of SCTY which is valued at $80,093.Msi Financial Services Inc boosted its stake in SCTY in the latest quarter, The investment management firm added 529 additional shares and now holds a total of 9,313 shares of SolarCity Corp which is valued at $254,804. SolarCity Corp makes up approx 0.01% of Msi Financial Services Inc’s portfolio.

SolarCity Corp opened for trading at $23.04 and hit $23.46 on the upside on Tuesday, eventually ending the session at $23.09, with a gain of 0.30% or 0.07 points. The heightened volatility saw the trading volume jump to 16,50,036 shares. Company has a market cap of $2,315 M.

On the company’s financial health, SolarCity Corp reported $-2.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-2.51. The company had revenue of $185.80 million for the quarter, compared to analysts expectations of $147.31 million. The company’s revenue was up 80.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.23 EPS.

Many Wall Street Analysts have commented on SolarCity Corp. Shares were Downgraded by Robert W. Baird on Aug 2, 2016 to ” Neutral” and Lowered the Price Target to $ 25 from a previous price target of $37 .SolarCity Corp was Downgraded by Raymond James to ” Mkt Perform” on Aug 2, 2016. SolarCity Corp was Downgraded by Credit Suisse to ” Neutral” on Jul 1, 2016.

SolarCity Corporation (SolarCity) sells renewable energy. The Company integrates the sales engineering installation monitoring maintenance and financing of its distributed solar energy systems. It offers long-term energy solutions to residential commercial and government customers. It offers its customers the option to either purchase and own solar energy systems or to purchase the energy that its solar energy systems produce through various contractual arrangements. The Company’s products services and technologies include solar energy systems customer agreements grid control / energy storage systems Zep solar mounting systems and software. The Company’s wholly owned subsidiary Zep Solar Inc. (Zep Solar) licenses its Zep Groove technology to photovoltaic module and power electronics manufacturers and supplies the Company with complementary mounting and grounding hardware. The Company served customers in 15 states and the District of Columbia United States.

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