Schaeffer's Trading Floor Blog

Stocks On the Move: SolarCity Corp, iDreamSky Technology Ltd (ADR), Lime Energy Co., and 3D Systems Corporation

SCTY, DSKY, LIME, and DDD are moving sharply in Thursday's trading

by 8/7/2014 1:15 PM
Stocks quoted in this article:

U.S. stocks have turned lower this afternoon, amid reports of escalating tension between Russia and Ukraine. Among the names making significant moves are alternative energy issue SolarCity Corp (NASDAQ:SCTY), Wall Street freshman iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY), clean energy concern Lime Energy Co. (NASDAQ:LIME), and 3-D printer maker 3D Systems Corporation (NYSE:DDD). Here's a quick look at how SCTY, DSKY, LIME, and DDD are faring on the charts today.

  • SCTY is bucking the broad-market trend, up 3.5% at $75.42 ahead of tonight's earnings report. Historically, the company has fallen short of bottom-line estimates in four of the past six quarters, resulting in an average one-day post-earnings loss of 7.9%. Nevertheless, analysts remain optimistic, as the six brokerage firms following SolarCity Corp deem it worthy of a "buy" or better rating. Likewise, the consensus 12-month price target of $86.78 represents expected upside of 15.1% to SCTY's current price.

  • DSKY is having a solid debut, with the shares last seen 10.2% higher at $16.53. The mobile gaming company rose as much as 27%, peaking at $19.05 in its first session on the Nasdaq.

  • LIME more than tripled in value at one point today, touching a two-year peak of $7.29, after the firm announced that it inked contracts worth $180 million. The stock has pared its gains to a still-impressive 145% to flirt with $5.20, at last check. Prior to today, Lime Energy Co. was struggling on the charts, with the shares churning near record lows. In fact, the equity had underperformed the broader S&P 500 Index (SPX) by 24 percentage points during the past three months, bringing its 14-day Relative Strength Index (RSI) to 29 -- in oversold territory.

  • DDD is 2.5% higher at $48.98, thanks to a halo lift from sector peer Stratasys, Ltd. (NASDAQ:SSYS). However, the stock remains more than 47% lower year-to-date, and option players have been gambling on even more downside. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day put/call volume ratio of 1.08 stands higher than 82% of all other readings from the past year. In other words, 3D Systems Corporation option buyers have picked up bearish bets over bullish at a faster-than-usual clip during the past two weeks.

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