Sunedison Sees Unusually High Options Volume (SUNE)
Sunedison (NASDAQ:SUNE) saw unusually large options trading on Friday. Traders bought 11,094 put options on the company, American Banking and Market News reports. This is an increase of 705% compared to the average volume of 1,378 put options.
Several analysts have recently commented on the stock. Analysts at Gilford Securities raised their price target on shares of Sunedison (NASDAQ:SUNE) from $9.58 to $13.00 in a research note to investors on Wednesday, September 4th. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company upgraded shares of Sunedison (NASDAQ:SUNE) from a “hold” rating to a “buy” rating in a research note to investors on Friday, August 23rd. They now have a $11.00 price target on the stock, up previously from $3.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Sunedison (NASDAQ:SUNE) in a research note to investors on Tuesday, August 20th. They now have a $6.75 price target on the stock.
Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Sunedison presently has a consensus rating of “Buy” and a consensus price target of $9.96.
Shares of Sunedison (NASDAQ:SUNE) traded down 1.73% during mid-day trading on Friday, hitting $7.38. The stock had a trading volume of 26,291,252 shares. Sunedison has a 52 week low of $2.15 and a 52 week high of $10.47. The stock has a 50-day moving average of $8.09 and a 200-day moving average of $6.81. The company’s market cap is $1.712 billion.
Sunedison (NASDAQ:SUNE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.06. The company had revenue of $401.30 million for the quarter, compared to the consensus estimate of $453.26 million. During the same quarter last year, the company posted $0.14 earnings per share. Sunedison’s revenue was down 47.3% compared to the same quarter last year. Analysts expect that Sunedison will post $-0.05 EPS for the current fiscal year.
SunEdison Inc, formerly MEMC Electronic Materials, Inc, is engaged in the development, manufacture and sale of silicon wafers.
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