Stock Traders Buy Large Volume of Suntech Power Call Options (STP)
Suntech Power (NYSE:STP) was the recipient of some unusual options trading on Monday. Traders bought 16,048 call options on the stock, Analyst Ratings News reports. This represents an increase of 322% compared to the average daily volume of 3,802 call options.
Separately, analysts at RBC Capital reiterated a “hold” rating on shares of Suntech Power in a research note to investors on Wednesday, October 9th. They now have a $0.75 price target on the stock.
Shares of Suntech Power (NYSE:STP) traded down 9.46% on Monday, hitting $1.34. 6,634,634 shares of the company’s stock traded hands. Suntech Power has a 52 week low of $0.30 and a 52 week high of $1.99. The stock’s 50-day moving average is $1.30 and its 200-day moving average is $1.03. The company’s market cap is $242.5 million.
Suntech Power Holdings Co, Ltd. (NYSE:STP) is a solar energy company.
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