Sunedison Given Average Recommendation of “Buy” by Brokerages (NYSE:SUNE)
Shares of Sunedison (NYSE:SUNE) have earned an average rating of “Buy” from the ten analysts that are currently covering the stock, AnalystRatingsNetwork.com reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.17.
A number of analysts have recently weighed in on SUNE shares. 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. 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.
Sunedison (NYSE:SUNE) opened at 22.15 on Wednesday. Sunedison has a one year low of $6.24 and a one year high of $22.65. The stock has a 50-day moving average of $19.21 and a 200-day moving average of $16.96. The company’s market cap is $5.932 billion. Sunedison also was the recipient of a large increase in short interest during the month of May. As of May 30th, there was short interest totalling 67,830,286 shares, an increase of 5.3% from the May 15th total of 64,438,340 shares. Based on an average daily volume of 10,213,877 shares, the days-to-cover ratio is currently 6.6 days. Currently, 25.5% of the shares of the company are short sold.
SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers.
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