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Solar City (SCTY) Rises on Acquisition

  +Follow October 16, 2013 11:15AM
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Shares of the solar panel installation outlet SolarCity Corporation (SCTY) continued their ascent on Oct 16 after the company revealed they had acquired rival Zep Solar. This comes just a few days after the company raised guidance and announced they expected installations to increase 80 percent in 2014.

The sunny projections coupled with the Zep Solar buyout sent SolarCity’s stock to its all-time high. The company’s shares have risen 290 percent on the year, as SolarCity has become arguably the hottest stock in the tech sector.

This is unsurprising, as SolarCity is the brainchild of wunderkind industrialist/Wall Street golden child Elon Musk. Musk is both the Chairman of SolarCity and the CEO of electric carmaker Tesla Motors (TSLA) , whose shares have risen a whopping 443 percent this year.

The growth potential of SolarCity is beginning to dawn on investors, who have been increasingly flocking to the stock like moths to a solar-powered lightbulb. Volume on Oct 16 was four times what it normally is, with just under 12 million shares trading hands as of midday.

Particularly attractive to investors is SolarCity’s growing customer base, which increased from right over 50,000 at the end of the fourth quarter of 2012 to an estimated 82,000 as of Sept. 30.

Whether SolarCity’s shares are due to come back to Earth or are still yet to reach their apex will become clear as day when the company releases its earnings report the first week of November.

Shares of the San Mateo, Ca.-based company rose 12 percent in early trading to hit  $52.16 a share.

 

(image courtesy of Wikimedia Commons)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for SCTY
Market Parse
26 Feb 15 22:00:24
@ZLucido $SCTY Your tweet has been featured on Market Parse, for iPhone. http://t.co/YHInvBkJcO
PHARMD
26 Feb 15 21:59:25
RT @PipsToDollars: ALERT: $Goog investing $300M in $SCTY to finance 25,000 residential solar projects http://t.co/OImL8WYyQM http://t.co/wa…
Leilani Pips™
26 Feb 15 21:58:23
@DevvAnderson I see people wanting to short $scty tomorrow Lols
Leilani Pips™
26 Feb 15 21:53:15
$scty shorts lols
AwesomeCalls
26 Feb 15 21:50:37
RT @OpenOutcrier: Google makes its largest investment in renewable energy ever http://t.co/AqLk629kAN. $SCTY $GOOG $GOOGL
Leilani Pips™
26 Feb 15 21:40:40
ALERT: $Goog investing $300M in $SCTY to finance 25,000 residential solar projects http://t.co/OImL8WYyQM http://t.co/wabCt9g2fo
Leilani Pips™
26 Feb 15 21:37:13
@realboxy $goog just bought into $scty... Could be interesting tomorrow
#जयहिन्द
26 Feb 15 21:23:06
RT @glennskwilliams: "Elon Musk Wants to Help DC and Md. Residents Afford Solar Panels" http://t.co/fHvnnGaexD @DC_Inno $SCTY $GOOG
528mining
26 Feb 15 20:16:32
RT @whey2muscle: #Stocks to watch from The Value Line Investment Survey: $WMT $PCLN $BJRI $EOG $MRO $LINE $SUNE $SCTY $TMUS $ABX $MAR http:…
#HelpYouGetGAINS
26 Feb 15 20:06:46
#Stocks to watch from The Value Line Investment Survey: $WMT $PCLN $BJRI $EOG $MRO $LINE $SUNE $SCTY $TMUS $ABX $MAR http://t.co/P3VWFzduOJ
Matt Van Tassel
26 Feb 15 19:22:50
@MarketParse: @MattVanTassel $SCTY Your tweet has been featured on Market Parse, for iPhone. http://t.co/6pQW5kqRzP http://t.co/OAcrXBaRnl
716 Labs
26 Feb 15 19:09:26
RT @BfloBizFirst: SolarCity ( $SCTY ) strikes deal with Google ( $GOOG ) for residential #solar panels http://t.co/SlA47OOg2B
MomentumpartnersLLC
26 Feb 15 18:50:43
Our best short ideas into friday $esv $scty $fl $ncr our best long $googl $ko we have positions in $esv and $ko stalking the rest
Bethany
26 Feb 15 18:22:13
RT @OpenOutcrier: Google makes its largest investment in renewable energy ever http://t.co/AqLk629kAN. $SCTY $GOOG $GOOGL
Open Outcrier
26 Feb 15 18:00:43
Google makes its largest investment in renewable energy ever http://t.co/AqLk629kAN. $SCTY $GOOG $GOOGL
Marc
26 Feb 15 17:53:58
RT @BfloBizFirst: SolarCity ( $SCTY ) strikes deal with Google ( $GOOG ) for residential #solar panels http://t.co/SlA47OOg2B
EricNearBuffalo
26 Feb 15 17:52:29
RT @BfloBizFirst: SolarCity ( $SCTY ) strikes deal with Google ( $GOOG ) for residential #solar panels http://t.co/SlA47OOg2B
Business First
26 Feb 15 17:50:04
SolarCity ( $SCTY ) strikes deal with Google ( $GOOG ) for residential #solar panels http://t.co/SlA47OOg2B
Scott Thomasson
26 Feb 15 17:15:00
RT @glennskwilliams: "Elon Musk Wants to Help DC and Md. Residents Afford Solar Panels" http://t.co/fHvnnGaexD @DC_Inno $SCTY $GOOG
Glenn Williams
26 Feb 15 17:13:27
"Elon Musk Wants to Help DC and Md. Residents Afford Solar Panels" http://t.co/fHvnnGaexD @DC_Inno $SCTY $GOOG
Tad Doughty, CFS
26 Feb 15 17:03:34
$SCTY picks up a few bucks from $GOOG, $75M. $PCG in on this too. Smart move boys. #diversify http://t.co/aAdasujEWt
Market Parse
26 Feb 15 16:30:41
@Monteurcafe $SCTY Your tweet has been featured on Market Parse, for iPhone. http://t.co/YHInvBkJcO
IH News Desk
26 Feb 15 16:11:22
$XLK Last Price Updated Thursday, February 26, 2015 6:10:40 PM $SCTY $HYG $SLW $CELG http://t.co/BEgFtqsqxl
Joe Mahavuthivanij
26 Feb 15 16:06:45
Get those Tesla batteries installed in your home! http://t.co/k9iP5pTgKP $TSLA $SCTY
Steve McCabe
26 Feb 15 16:05:19
@TMFJMo $DIS, $SCTY, $FEYE
Asymmetric Alpha
26 Feb 15 15:28:55
RT @hedgefundclone: $GOOG, $GOOGL @google making huge $350 million dollar bet on $SCTY @solarcity wow and Jana Partners owns $SCTY http://t…
Jeff Ruppert
26 Feb 15 15:17:51
Go $GOOG and $SCTY - Google invests $300 million in SolarCity green energy project http://t.co/xAZh2yZ0py
HighMtnVentures
26 Feb 15 15:17:51
Go $GOOG and $SCTY - Google invests $300 million in SolarCity green energy project http://t.co/8vajY5EAE1
Market Parse
26 Feb 15 15:00:42
@MattVanTassel $SCTY Your tweet has been featured on Market Parse, for iPhone. http://t.co/YHInvBkJcO
BINGBING Delight
26 Feb 15 14:23:33
RT @ThudderWicks: Deals of the Day: #Marchionne raises $FCAU stake as #Ferrari spin-off nears, $SCTY, #Pepcom, #Eleclink, Cast & Crew http…
Breaking News
26 Feb 15 14:21:04
$SCTY: 5 Things SolarCity Corp's Management Wants You to Know: http://t.co/pYkYEaNIli
Langan Stocks
26 Feb 15 13:59:58
$C Stock Forum Updated Thursday, February 26, 2015 4:03:11 PM $XLB $SPG $OIH $SCTY http://t.co/sZqQfzZhNH
Anasta Les
26 Feb 15 13:39:33
$GOOG invests $300 mln in #solar. Should you? No doubt. Solar stocks $CSIQ $SCTY $FSLR $SUNE $TSL are trading at discount due to oil.
Dan Herrin
26 Feb 15 13:30:32
RT @hedgefundclone: $GOOG, $GOOGL @google making huge $350 million dollar bet on $SCTY @solarcity wow and Jana Partners owns $SCTY http://t…
Joanna Bell
26 Feb 15 13:29:36
http://t.co/QrZL1umHeS $SCTY
Trent Blair
26 Feb 15 13:29:15
RT @hedgefundclone: $GOOG, $GOOGL @google making huge $350 million dollar bet on $SCTY @solarcity wow and Jana Partners owns $SCTY http://t…
BillionairesPort
26 Feb 15 13:28:25
$GOOG, $GOOGL @google making huge $350 million dollar bet on $SCTY @solarcity wow and Jana Partners owns $SCTY http://t.co/Azy8LVeEwo
BillionairesPort
26 Feb 15 13:24:03
Now I know why Billionaire Barry Rosenstein of the $10bn Activist Hedge Fund Jana took a huge position in $SCTY @solarcity @google $goog
Langan Stocks
26 Feb 15 12:59:16
$SCTY Percent Change Updated Thursday, February 26, 2015 3:03:11 PM $MRK $MCP $RSX $SLB http://t.co/5uKuzfJtI3
HIC SVNT DRACONES
26 Feb 15 12:57:02
"@Blknite: $SCTY cycling down to high $40's $FSLR/Google did not help keep it up. http://t.co/nmJ2Sp7Tj5"
HIC SVNT DRACONES
26 Feb 15 12:56:51
"@betaloss: $SCTY great company. awful chart"
HIC SVNT DRACONES
26 Feb 15 12:56:47
"@simpleplan: $SCTY Headline Front Page CNBC http://t.co/4E0o4aZRCX $TSLA"
John Licata
26 Feb 15 12:53:02
Jony Ives sells Nest to Google. $GOOG invests in solar with $SCTY, kin of Tesla. $TSLA poaching Apple workers. Is there a coup to stop AAPL?
Christopher Miles
26 Feb 15 12:52:11
@JDR1024 @cvpayne Most Solars down today. $SCTY shouldn't but it trades with oil price. Upside is it's fallen the least of its peers today.
Blueshift Research
26 Feb 15 12:42:46
Trends Trackers: Consumers w/ #solar panels up 2x vs. 6 months ago; 1 in 4 are interested in solar, a slight decrease from 6 mos ago. $SCTY
parkland
26 Feb 15 12:30:43
@MelissaLeeCNBC @carlquintanilla @jimcramer @JustinPulitzer @RiskReversal So $GOOGL invested in SpaceX now $SCTY.. Who next $TSLA? HMM
Thudder & Wicks
26 Feb 15 12:08:30
Deals of the Day: #Marchionne raises $FCAU stake as #Ferrari spin-off nears, $SCTY, #Pepcom, #Eleclink, Cast & Crew http://t.co/Wt24DRP5x2
Chad Ferguson
26 Feb 15 11:50:04
@TMFJMo $BOFI, $UA, $SCTY
#HelpYouGetGAINS
26 Feb 15 11:36:57
#Stocks to watch from The Value Line Investment Survey: $WMT $PCLN $BJRI $EOG $MRO $LINE $SUNE $SCTY $TMUS $ABX $MAR http://t.co/kmS8G88lMN
Irma Doucet
26 Feb 15 11:34:37
$SCTY SolarCity Corp. Moves Beyond Installing Panels–Earnings Preview http://t.co/boOAqlGlNL
				
				
  +Follow October 16, 2013 11:15AM
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