Sunedison Sees Unusually Large Options Volume (SUNE)
Shares of Sunedison (NASDAQ:SUNE) were the recipient of unusually large options trading activity on Monday. Investors purchased 107,892 call options on the company, StockRatingsNetwork reports. This is an increase of 605% compared to the typical volume of 15,298 call options.
In other Sunedison news, Director Steven Vincent Tesoriere sold 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 value of $116,580,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. initiated coverage on shares of Sunedison in a research note on Monday. They set an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of Sunedison in a research note on Monday. They set a “neutral” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Sunedison in a research note on Monday. They now have a $35.00 price target on the stock, up previously from $13.00. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $23.24.
Shares of Sunedison (NASDAQ:SUNE) traded up 10.93% on Monday, hitting $21.51. 20,865,028 shares of the company’s stock traded hands. Sunedison has a 1-year low of $6.24 and a 1-year high of $21.93. The stock has a 50-day moving average of $19.10 and a 200-day moving average of $16.77. The company’s market cap is $5.761 billion.
Sunedison (NASDAQ:SUNE) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the analysts’ 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. Sunedison’s revenue was up 33.9% compared to the same quarter last year. Analysts expect that Sunedison will post $-0.36 EPS for the current fiscal year.
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.