Insider Selling: Steven Vincent Tesoriere Sells 6,000,000 Shares of Sunedison Stock (SUNE)
Sunedison (NASDAQ:SUNE) Director Steven Vincent Tesoriere unloaded 6,000,000 shares of Sunedison stock on the open market in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $19.43, for a total transaction of $116,580,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Sunedison (NASDAQ:SUNE) traded down 2.87% during mid-day trading on Tuesday, hitting $19.26. 10,559,407 shares of the company’s stock traded hands. 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 $19.11 and its 200-day moving average is $16.64. The company’s market cap is $5.158 billion.
Sunedison (NASDAQ:SUNE) last released its earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by $0.08. 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. On average, analysts predict that Sunedison will post $-0.36 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Sunedison in a research note on Wednesday, May 28th. They set a “hold” rating on the stock. Separately, analysts at Brean Capital reiterated a “hold” rating on shares of Sunedison in a research note on Thursday, May 15th. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Sunedison in a research note on Tuesday, May 13th. They now have a $16.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $21.69.
SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers.
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