The stock of Vivint Solar, Inc. (NYSE:VSLR) is now priced at $30.88 and the shares are 0.36 points up or 1.18% higher compared to its previous closing price of $30.52. The stock had 2.357 million contracts set over the past session. VSLR shares’ daily volume is compared to its average trading volume at 2.903 million shares. However, it has a float of 121 million and although its performance was 10.6% over the week, it’s one to watch. Analysts have given the VSLR stock a yearly average price target of $20.38 per share. It means the stock’s downside potential is -34% with the VSLR share price recently placing at $30.01 to $31.29. However, some brokerage firms have priced the stock below the average, including one that has called $15.
The shorts are running away from the Vivint Solar, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the VSLR shares have declined. Short interest in the stock represents just 7.9% of its float, but the volume has dropped by 0.
In the last trading session, Vivint Solar, Inc. (NYSE:VSLR) raised by $2.96 over the week and gained $9.04 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $31.29. The stock recorded its established 52-week high on 08/31/20.
Since 03/18/20, the stock has traded to a low of $3.17 at 874.13%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.78. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Vivint Solar, Inc.’s two-week RSI is 74.96. This suggests that the stock is oversold at the moment and that VSLR shares’ price movement remains not stable. The stochastic readings are equally revealing at 95.84% meaning the VSLR share price is currently in oversold territory.
The technical chart shows that the VSLR stock will likely settle at between $31.44 and $32.01 per share. However, if the stock dips below $30.16, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $29.45.
Currently, the stock is trading in the green of MACD, with a reading of 2.11. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at JMP Securities cut their recommendation for VSLR from Mkt Outperform to Mkt Perform in July 07 review while maintai their target price of $15. Goldman analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $9 to $10 in a flash note released to investors on June 25. KeyBanc Capital Markets analysts see the stock as Overweight when the analysts initiated the share price coverage on August 20, placing it at $12.
The average rating for the VSLR equity is 2.2 and is currently gathering a bullish momentum. Of 4 analysts tracking Vivint Solar, Inc. polled by Reuters, 2 rated VSLR as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the VSLR stock price is 266.21X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 77.6. Vivint Solar, Inc. has its P/E ratio at 28.4, which means that the stock is currently trading at a premium relative to the 4.3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Vivint Solar, Inc. (NYSE:VSLR) will decrease by about -99.91%, which will see them reach $92.79 million. The company’s full-year revenues are, however, expected to increase by about 15.52%, up from $341 million to $394 million. VSLR’s expected adjusted earnings should drop almost -209.09% to end up at $0.12 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -94.05% to record -$0.05/share.