What: Shares of SolarCity Corp. (SCTY +0.00%) took another nosedive today, falling 12% with less than 30 minutes left in trading.
So what: The market's general decline and another 3% drop in oil to under $27 per barrel didn't help the volatile stock. Analysts at Barclays didn't help matters, after downgrading the stock to an equal weight rating and putting a $20 price target on the stock.
Now what: Long term, an analyst's rating won't have any effect on SolarCity's stock or its operations, but it can, in the short term, capture investors' attention. The real focus should be on SolarCity missing its own installation guidance and its plan to be cash flow breakeven by the end of this year.
After both of those metrics were released yesterday, the stock plunged, and that has made the losses even worse. But with SolarCity now worth about $1.6 billion, it may finally be a good value for investors, especially if it can execute on its plan to generate cash flow in 2016.
