NEW YORK (TheStreet) -- SolarCity (SCTY) rose to an all-time high of $83.79 on Tuesday, one day after the stock dipped in conjunction with the energy company's announcement that it would delay the release of its fourth quarter results.
The stock closed at $81.18, up 3.35%, or $2.63, from its previous close of $78.55. It amassed a volume of 12,250,228, nearly triple its average of 4,202,200. The stock hit a low of $76 for the day and holds a one-year low of $15.88.
The delay of much of the fourth-quarter financials did not dissuade Credit Suisse, which holds an "outperform" rating on SolarCity.
"[T]he company has delayed releasing Q4 financials due to ongoing work preparing Q4 results, specifically due to complications arising from recent acquisitions and overhead cost allocation," the firm wrote in a research note. "While the Q1 guide for volume is lower than we were expecting and the uncertainty caused by delayed reporting will likely weigh on the stock, we believe the value creation drivers remain intact and would view a rerating in the stock as a buying opportunity. SolarCity is in the early innings of the adoption to distributed generation and is still scratching the surface with step-function increases in returns from accessing lower cost capital."
TheStreet Ratings team rates SOLARCITY CORP as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation: