NEW YORK (TheStreet) -- Shares of Vivint Solar Inc. (VSLR) , the rooftop-panel leasing unit majority owned by Blackstone Group LP (BX) , dropped 22.32% to $11.45 after 2014 third-quarter profit missed analyst expectations, Bloomberg reports.
Vivint posted an adjusted loss per share of 66 cents, wider than the loss of 20-cent average of four analysts' estimates compiled by Bloomberg. Sales in the period more than tripled to $8.3 million from $2.3 million as electricity production at its residential installations grew, according to Bloomberg.
"In three short years we've become the second-largest U.S. residential solar company," CEO Gregory Butterfield said, adding, "This level of growth requires significant investment in the business."
VSLR data by YCharts