Sunedison (SUNE) Posts Quarterly Results
Sunedison (NASDAQ:SUNE) released its earnings data on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.08, AR Network reports. The company had revenue of $546.50 million for the quarter, compared to the consensus estimate of $593.88 million. The company’s revenue for the quarter was up 33.9% on a year-over-year basis.
Sunedison (NASDAQ:SUNE) traded down 2.62% during mid-day trading on Thursday, hitting $17.8301. The stock had a trading volume of 9,390,206 shares. Sunedison has a 52-week low of $5.00 and a 52-week 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 $4.763 billion. Sunedison also was the target of some unusual options trading activity on Wednesday. Investors purchased 29,270 put options on the stock. This represents an increase of approximately 262% compared to the average volume of 8,091 put options.
A number of research firms have recently commented on SUNE. Analysts at Brean Capital reiterated a “hold” rating on shares of Sunedison in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.11.
SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers.
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