Sunedison PT Raised to $26.00 at Needham & Company LLC (SUNE)
Research analysts at Needham & Company LLC raised their target price on shares of Sunedison (NASDAQ:SUNE) to $26.00 in a report released on Wednesday. Needham & Company LLC’s price objective would suggest a potential upside of 17.38% from the company’s current price.
In other Sunedison news, Director Steven Vincent Tesoriere sold 6,000,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $19.43, for a total transaction of $116,580,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on SUNE. Analysts at Macquarie initiated coverage on shares of Sunedison in a research note on Tuesday. They set an “outperform” rating on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Sunedison in a research note on Tuesday. They set a “neutral” rating on the stock. Finally, 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Sunedison currently has a consensus rating of “Buy” and an average price target of $23.58.
Sunedison (NASDAQ:SUNE) opened at 22.15 on Wednesday. Sunedison has a 52 week low of $6.24 and a 52 week high of $22.65. The stock’s 50-day moving average is $19.21 and its 200-day moving average is $16.96. The company’s market cap is $5.932 billion. Sunedison also was the target of some unusual options trading activity on Monday. Investors acquired 107,892 call options on the stock. This represents an increase of 605% compared to the average daily volume of 15,298 call options.
Sunedison (NASDAQ:SUNE) last announced its 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. On average, analysts predict that Sunedison will post $-0.36 earnings per share 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.