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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
StockKingz
19 Oct 14 17:49:50
Monday Watchlist- $APT $IBIO $NLNK $SCTY $MBLY $VIMC $AAPL $ACHN $OBCI $LAKE $SWSH $UVXY $SVXY $BIOF $TWTR $FB $YELP $CYBR #stocks #trading
Kristin
19 Oct 14 17:21:38
$SCTY same pivot bounce like last yr that has been a source of last yr bonus for some firms. "$46" # to remember pivot supp.
Colin Macleod
19 Oct 14 14:47:08
5 Death Cross Patterns to watch for plays this week http://t.co/QezyCrNIg8 $ONNN $PLCM $SCTY $PSEC $A
TV_Trading Ideas
19 Oct 14 14:30:24
SCTY - SOLARCITY CORP BREAKOUT ON H&S PATTERN $SCTY http://t.co/K6xtppecbL
Retired Tennis Bum
19 Oct 14 09:33:40
! $SCTY takes panel off when roof is repaired and new layer is applied. Cost is $500 if not using their roofer.
natetrades
19 Oct 14 07:54:27
$scty isn't looking so hot IMO. Could sit back to 40s. MA crossover on Thursday http://t.co/dZCT4BfYjk
Penny Stocks Blog
19 Oct 14 07:02:14
RT @StockKingz: $SCTY Some key levels- needs to break 51.8 for a run to 53 again http://t.co/xLn48ICF1g #stocks #investing #trading
StockKingz
19 Oct 14 06:45:25
Monday Watchlist- $APT $IBIO $NLNK $SCTY $MBLY $VIMC $AAPL $ACHN $OBCI $LAKE $SWSH $UVXY $SVXY $BIOF $TWTR $FB $YELP $CYBR
StockKingz
19 Oct 14 06:41:10
Monday Watchlist- $apt $ibio $nlnk $scty $mbly $vimc $AAPL $achn $obci $lake $swsh $uvxy $svxy $biof $twtr $fb $yelp $cybr #stocks #trading
StockKingz
19 Oct 14 06:37:47
$SCTY Some key levels- needs to break 51.8 for a run to 53 again http://t.co/xLn48ICF1g #stocks #investing #trading
StockKingz
19 Oct 14 06:31:58
MOMOS COMPARISON YTD $GRUB $FB In lead. $BIDU Close. Then $nflx $goog $scty and $twtr $STUDY #stocks #investing http://t.co/SXVU2P6KOp
Marcella Humphrey
19 Oct 14 05:04:11
it's always a good time when stocks fall 4little reason $WSM $RAX $KING Fed today IMO wil make firm ,0025% $SCTY $TSLA
Vicky Alvarado
19 Oct 14 04:34:40
it's always a good time when stocks fall 4little reason $WSM $RAX $KING Fed today IMO wil make firm ,0025% $SCTY $TSLA
Charlene A. Davidson
18 Oct 14 14:19:35
#SolarCity Just Opened up a New Solar Market http://t.co/NfJmAP8UF6 #solarbonds $SCTY
MacKenzie Stout
18 Oct 14 14:16:20
RT @MarketWatch: SolarCity says it will sell $200 million worth of bonds directly to investors online: http://t.co/9ogXKMmZpR $SCTY http://…
Gavin Martinsson
18 Oct 14 13:40:11
Equity Sense - Stuff Happens. Here. http://t.co/ojMpokuBp8 $aapl $baba $googl $gpro $tsla $nflx $scty $amzn $ES_F $SPY $SPX $EURUSD
Mike Lim
18 Oct 14 13:40:11
Equity Sense - Stuff Happens. Here. http://t.co/CKULT5HSCM $aapl $baba $googl $gpro $tsla $nflx $scty $amzn $ES_F $SPY $SPX $EURUSD
Equity Sense
18 Oct 14 13:40:03
Equity Sense - Stuff Happens. Here. http://t.co/w8HR8qVcSt $aapl $baba $googl $gpro $tsla $nflx $scty $amzn $ES_F $SPY $SPX $EURUSD
StockKingz
18 Oct 14 09:17:18
$SCTY Some key levels- needs to break 51.8 for a run to 53 again http://t.co/Vhg6UnNtia
eduardo
18 Oct 14 01:28:12
RT @WindStreamTech: Great article on India and hybrid systems. This market is going to be huge for us! -> http://t.co/seMEVS1Yme $WSTI $SCT…
Joe Rescino
17 Oct 14 22:00:06
@nbcbayarea $SCTY
Hereitfirst
17 Oct 14 20:50:54
$SCTY Small position. Loving the volatility on these swings but I wanna see 75-80 EOY Common longs !
Hereitfirst
17 Oct 14 20:47:16
RT @BiotechMoney18: $SCTY I think this is possible bottom. Support this name for end of yr run. I have my stake in this name. I want $75-80…
Samantha LaDuc
17 Oct 14 15:21:10
Commented on StockTwits: My thinking on $SCTY is we bounce to $58 + fail. Close <$45 has measured move to $28. $... http://t.co/8IbjgC0o7K
Analyst Ratings
17 Oct 14 14:43:15
Get the latest news and updates for $ALB $YHOO $ABT $STJ $SCTY automatically with ARN Daily http://t.co/nSJuDsYidj
Matt Cooper
17 Oct 14 13:18:30
Weekend positions: $SCTY $IBIO $MYEC $LNGLF $CECO (short) $CMRX
InsiderTradingWire
17 Oct 14 13:00:19
$SCTY | SolarCity Corpora is down 26% since we reported $9,293,499 of insider selling on 08/08/2014. Did you ... - http://t.co/ZnJacTX9I3
Stock Moo
17 Oct 14 12:51:35
$scty: Can solar bonds transform America’s energy infrastructure? http://t.co/CWE7MfRhyK
RC
17 Oct 14 12:26:12
Weekly Scorecard | Momentum Trading with RaginCajun http://t.co/VwuLzfCSXz $WDAY $WB $SCTY $SPLK $TRLA
Happy Trading
17 Oct 14 12:02:34
I just exited an options trade in $SCTY... http://t.co/clTxuZ3FFE http://t.co/r3vv3J4A0W
Happy Trading
17 Oct 14 12:02:27
I just exited an options trade in $SCTY... http://t.co/clTxuZ3FFE... http://t.co/clTxuZ3FFE
Bernard
17 Oct 14 11:53:04
The mind behind $TSLA, SpaceX, $SCTY ... http://t.co/b8fgdMlPfX
SB Jalloh
17 Oct 14 11:52:18
http://t.co/IHxXZuZjFc $2,580 profit in $SCTY Will cover this Short position and will consider reShorting this stock as it swings
SB Jalloh
17 Oct 14 11:44:05
http://t.co/IHxXZuZjFc New position in $SCTY After exiting my previous long position, perfect time to SHORT while this stock declines in...
SB Jalloh
17 Oct 14 11:40:48
http://t.co/fkGl5ToyvR $4,050 profit in $SCTY It was a perfect day to exit and now swing to short this stock
SB Jalloh
17 Oct 14 11:37:33
http://t.co/fkGl5ToyvR New position in $SCTY This one was strongly recommended to Short but I decided to go long 1st then short, as my r...
Jerry Efremides
17 Oct 14 11:36:37
$SCTY thats 17k at $51.00 something tells me thats not the #homegamers
John Mark Shipp,Jr.
17 Oct 14 11:35:34
Now is a good time to get into $SCTY. Its target price is $95. #ElonMusk
Kristjan Kullamägi
17 Oct 14 11:02:31
Same thing with $JASO versus $CSIQ $SCTY etc, low risk entry here, can catch up to the others
Investors Hangout
17 Oct 14 10:38:48
danrocks: $DRYS Starting to get interesting $SCTY $OXY $XLY http://t.co/ff2Ob7LpBl
Investors Hangout
17 Oct 14 10:38:45
danrocks: $DRYS Starting to get interesting $SCTY $OXY $XLY http://t.co/WFUzHBj3ch
Hieu Nguyen
17 Oct 14 10:37:26
$EXXI $FSLR $LINE $SCTY $SPWR $SOL Risky to keep these guys overnight. If you have them, buy put to protect the loss for next week.
OTPicks.com
17 Oct 14 10:29:33
http://t.co/hjgLwIcNgz danrocks: $DRYS Starting to get interesting $SCTY $OXY $XLY: danrocks http://t.co/9PMSgxjWlW http://t.co/hjgLwIcNgz
OTPicks.com
17 Oct 14 10:29:31
http://t.co/QkCFZ8H3V8 danrocks: $DRYS Starting to get interesting $SCTY $OXY $XLY: danrocks http://t.co/zvhG1PW7Jl http://t.co/QkCFZ8H3V8
Hieu Nguyen
17 Oct 14 10:25:11
$EXXI $FSLR $LINE $SCTY $SPWR $SOL all energy stocks will see sell off and drop today due to oil continue showing weakness.
Extreme Stocks
17 Oct 14 10:25:00
danrocks: $DRYS Starting to get interesting $SCTY $OXY $XLY http://t.co/FsZ13TtsZo
Investors Hangout
17 Oct 14 10:17:28
lookn4wins: $SCTY 50 Simple Moving Average $SCTY Most recent http://t.co/65gRVzKwjK
Investors Hangout
17 Oct 14 10:17:28
lookn4wins: $SCTY 50 Simple Moving Average $SCTY Most recent http://t.co/LcBnkLcvgO
Brattle St. Capital
17 Oct 14 10:13:03
@BrattleStCap couple random ones I see squeezing higher; $CZR $SCTY (?) $BBRY $KING $AWAY $VJET $RSH $ZOES $LOCO $ARCO...feel free to add
danrocks
17 Oct 14 10:12:23
$DRYS Starting to get interesting $SCTY $OXY $XLY $XLNX $SSO http://t.co/JAQDE2NIBV
				
				
  +Follow October 16, 2013 11:15AM
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