SolarCity Corporation ( SCTY ) saw a big move last session, as the company's shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for SCTY, as the stock is now up over 6% in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors. Though estimate revisions for this solar power company remained flat in the past few weeks, its current year consensus estimate trend has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
SCTY currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same industry include JinkoSolar Holding Co., Ltd. ( JKS ), Enphase Energy, Inc. ( ENPH ) and Yingli Green Energy Holding Co. Ltd. ( YGE ). WhileJinkoSolar carries a Zacks Rank #1 (Strong Buy), Enphase Energy and Yingli Green hold a Zacks Rank #2 (Buy).