The stock only had its initial public offering (IPO) in early October, entering the market at $17.01. Since that time Vivint has been on the steady decline, excluding a brief post IPO bump. This was reflected in the 50-day moving average (MA) which has consistently acted as an overhang, having only been tested at the beginning of February and at current prices now.
Recently Vivint announced that it had expanded its residential operations to Utah, offering residential solar leases to homeowners in the state. As a result, homeowners have the option to lock in a fixed monthly lease payment which will pay for the system. The electricity generated from this system will provide Utah homeowners with electricity costs typically below the prevailing utility rates.
In late February, what can only be called a surprise move took place when SunPower Corp. (NASDAQ: SPWR) and First Solar Inc. (NASDAQ: FSLR) announced that they are joining forces to create a yieldco from assets currently included in the separate portfolios of each company. On that day shares of Vivint initially jumped 2.6% at the news.
Shares of Vivint were up about 3% at $8.36 in the hours before earnings will be reported. The stock has a consensus analyst price target of $19.80 and a post-IPO trading range of $7.42 to $18.71.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
