Sunedison Coverage Initiated at Stifel Nicolaus (SUNE)
Sunedison (NYSE:SUNE) traded up 0.66% on Wednesday, hitting $19.5088. The stock had a trading volume of 4,464,090 shares. Sunedison has a 52 week low of $6.24 and a 52 week high of $21.93. The stock’s 50-day moving average is $18.49 and its 200-day moving average is $16.20. The company’s market cap is $5.225 billion. Sunedison also was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 64,438,340 shares, a growth of 10.8% from the April 30th total of 58,135,763 shares. Approximately 24.3% of the shares of the stock are short sold. Based on an average trading volume of 13,866,746 shares, the short-interest ratio is currently 4.6 days.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company LLC cut their price target on shares of Sunedison from $23.00 to $22.00 in a research note on Friday, May 9th. Finally, analysts at Morgan Stanley upgraded shares of Sunedison to an “overweight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.17.
SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.