SolarCity Corporation (SCTY) Moves Higher on Volume Spike for September 05

Equities Staff  |

SolarCity Corporation (SCTY) traded on unusually high volume on Sep. 05, as the stock gained 30.28% to close at $9.25. On the day, SolarCity Corporation saw 8,654 shares trade hands on 63 trades. Considering that the stock averages only a daily volume of 106 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $16.49 and $7.00 over the last 52-weeks, its 50-day SMA is now $7.10, and its 200-day SMA $7.10. SolarCity Corporation has a P/B ratio of 2.73.

SolarCity Corp was incorporated as a Delaware corporation on June 21, 2006. The Company is engaged in the design, manufacture, installation and sale or lease of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers. Its customers include residential, commercial and government. The residential customers are individual homeowners who want to switch to cleaner, more affordable energy. Residential customers also include homeowners within communities developed by home builders the company is partnered with. The Commercial customers represent diverse business sectors, including technology, retail, manufacturing, agriculture and nonprofits, including customers such as Walmart, eBay, HP, Walgreens, Intel, and Safeway, Mexican businesses such as Tiendas Soriana, and thousands of other businesses across the United States, including SMBs.

Headquartered in San Mateo, CA, SolarCity Corporation has 15,273 employees and is currently under the leadership of CEO Lyndon R. Rive.

For a complete fundamental analysis analysis of SolarCity Corporation, check out Equities.com’s Stock Valuation Analysis report for SCTY.

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To get more information on SolarCity Corporation and to follow the company’s latest updates, you can visit the company’s profile page here: SCTY’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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