NEW YORK (TheStreet) -- Shares of SolarCity Corp. (SCTY) are up 4.38% to $55.98 in pre-market trade after the company announced that it has entered into contract with Walmart Stores (WMT) for the installation of new solar projects at facilities in up to 36 states over the next four years.
SolarCity has completed more than 200 solar projects at Walmart locations since 2010. SolarCity has also installed and tested energy storage projects co-located with solar power generation at 13 Walmart facilities since early 2013, and will be incorporating ten additional storage projects in the next year.
Since the company's last announcement, SolarCity has installed nearly 50 solar projects for Walmart.
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 generally disappointing historical performance in the stock itself, generally high debt management risk and feeble growth in its earnings per share."