Sunedison Sees Large Increase in Short Interest (SUNE)
Shares of Sunedison (NYSE:SUNE) were the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 56,954,442 shares, a growth of 5.0% from the March 31st total of 54,258,840 shares, AnalystRatings.Net reports. Currently, 21.4% of the company’s shares are short sold. Based on an average daily trading volume, of 13,496,308 shares, the short-interest ratio is presently 4.2 days.
A number of analysts have recently weighed in on SUNE shares. Analysts at Needham & Company LLC raised their price target on shares of Sunedison from $20.00 to $23.00 in a research note on Wednesday, March 12th. Separately, analysts at Morgan Stanley upgraded shares of Sunedison to an “overweight” rating in a research note on Tuesday, March 4th. Finally, analysts at Credit Suisse raised their price target on shares of Sunedison from $17.00 to $34.00 in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $20.33.
Shares of Sunedison (NYSE:SUNE) opened at 18.31 on Thursday. Sunedison has a one year low of $5.00 and a one year high of $21.93. The stock’s 50-day moving average is $18.98 and its 200-day moving average is $15.34. The company’s market cap is $4.892 billion.
SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers.
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