A Q4 miss, high expectations, and a downgrade to Hold from Needham lead SolarCity (SCTY -13.4%)...

|About: SolarCity Corp. (SCTY)|By:, SA News Editor

A Q4 miss, high expectations, and a downgrade to Hold from Needham lead SolarCity (SCTY -13.4%) to tumble. Though expecting SolarCity to hit its 2013 deployment target of 250MW, Needham now sees less upside. On the earnings call, SolarCity mentioned it's talking with ratings agencies to lower financing costs for installations - the company recently refinanced some early debt to 3.45% from a prior 8%. Even after accounting for financing funds, SolarCity expects to burn cash over the next 3 quarters before again turning net cash flow positive. (slides)