Why SolarCity (SCTY) Stock Closed Higher Today

NEW YORK (TheStreet) -- SolarCity (SCTY) shares finished trading up 1.2% to $67.95 on heavy volume today, as 10.38 million shares were traded, nearly double its three month daily average of 5.5 million shares, following its acquisition of solar tech company Silevo.

SolarCity chairman Elon Musk touted the acquisition as a big step in lowering the cost of solar energy for consumers.

Must ReadWarren Buffett's 25 Favorite Stocks 

"Our intent is to combine what we believe is fundamentally the best photovoltaic technology with massive economies of scale to achieve a breakthrough in the cost of solar power," said Musk in a blog post on the company's website.

TheStreet has an in-depth review of SolarCity's acquisition here.

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:

"We rate SOLARCITY CORP (SCTY) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow, generally high debt management risk and feeble growth in its earnings per share."

If you liked this article you might like

After Tesla Acquisition, Musk's Cousin to Leave SolarCity -- Tech Roundup

BofA: Tesla Stock to Be Cut in Half in Next 12 Months

Here's How SpaceX Made History Thursday Night -- Tech Roundup

Cramer: Shorts Are Being Hung Out to Dry

Sunrun, Solar Energy Provider, Raises Expectations for 2017 Sales