SolarCity Corporation (SCTY) : Traders are bullish on SolarCity Corporation (SCTY) as it has outperformed the S&P 500 by a wide margin of 12.53% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.66%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.21% in the last 1 week, and is up 17.45% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 7.92% and the 50-Day Moving Average is 12.47%.
SolarCity Corporation (NASDAQ:SCTY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.75 and $24.45 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $25.06. The buying momentum continued till the end and the stock did not give up its gains. It closed at $25.04, notching a gain of 1.58% for the day. The total traded volume was 2,809,157 . The stock had closed at $24.65 on the previous day.
The company Insiders own 36.4% of SolarCity Corporation shares according to the proxy statements. Institutional Investors own 47.54% of SolarCity Corporation shares. In a related news,The officer (EVP, General Counsel) of Solarcity Corp, Weissman Seth R sold 940 shares at $20.35 on May 16, 2016. The Insider selling transaction had a total value worth of $19,129. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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 Companys products, services and technologies include solar energy systems, customer agreements, grid control / energy storage systems, Zep solar mounting systems and software. The Companys 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.