Traders Buy Large Volume of Put Options on Sunedison (SUNE)
Shares of Sunedison (NASDAQ:SUNE) were the recipient of unusually large options trading on Wednesday. Stock investors purchased 9,909 put options on the company, American Banking News reports. This is an increase of 302% compared to the typical volume of 2,466 put options.
A number of analysts have recently weighed in on SUNE shares. Analysts at Gilford Securities raised their price target on shares of Sunedison from $13.00 to $18.00 in a research note to investors on Friday, January 10th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Sunedison in a research note to investors on Thursday, November 14th. They set a “buy” rating and a $13.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Sunedison in a research note to investors on Thursday, November 14th. They now have a $15.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.29.
Sunedison (NASDAQ:SUNE) traded up 1.43% on Wednesday, hitting $14.22. 10,174,559 shares of the company’s stock traded hands. Sunedison has a 1-year low of $3.95 and a 1-year high of $15.22. The stock’s 50-day moving average is $13.8 and its 200-day moving average is $10.62. The company’s market cap is $3.791 billion.
SunEdison Inc, formerly MEMC Electronic Materials, Inc, is engaged in the development, manufacture and sale of silicon wafers.
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