SolarCity (SCTY) Stock Climbs on Upgrade

solar panels

Shares of SolarCity Corporation (SCTY) are up more than 5% on Thursday, bringing the stock up 13.3% since Monday. The catalyst for the sizable gain is the stock’s upgrade to ‘Outperform’ from ‘Neutral’ at Robert W. Baird. The firm thinks regulatory worries are overdone on one of the leading U.S. rooftop installer, and that shares are attractive at current levels. Further, RWB believes SolarCity’s recent financing deals should alleviate any concerns over the company’s balance sheet and access to liquidity.

Price Action

Shares have traded today between $23.56 and $24.30 with the price of the stock fluctuating between $16.31 to $61.72 over the last 52 weeks.

SolarCity Corp. shares have a t-12 price/sales ratio of 4.99. EPS for the same period registers at ($0.63).

Shares of SCTY have gained $0.68 to $23.75 in morning trading on Thursday, giving it a market cap of roughly $2.35 billion. The stock traded as high as $61.72 on August 5, 2015.

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