Why SolarCity (SCTY) Stock Is Lower Today

NEW YORK (TheStreet) -- Shares of SolarCity Corp. (SCTY) are down 0.51% to $66.66 after it was reported that the Elon Musk-backed solar energy systems company will soon lose its place as the only U.S. publicly traded solar installer, just as residential solar power emerges as one of the most exciting themes in clean energy and generates strong investor interest, according to MarketWatch.

Blackstone Group (BX) backed Vivint Solar said Thursday it plans to sell 20.6 million of its shares at $16 to $18 a piece, hoping to raise between $370 million and $426 million. The shares will trade under the ticker VSLR on the New York Stock Exchange, the company said in an SEC filing.

SolarCity is the largest U.S. solar installer, with a nearly 30% share of the market. Vivint Solar is second, with a 9% share, MarketWatch said.

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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 a number of negative factors, 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 unimpressive growth in net income, generally high debt management risk, weak operating cash flow and feeble growth in its earnings per share."

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