Sunedison Sets New 52-Week High at $23.13 (SUNE)
Shares of Sunedison (NASDAQ:SUNE) reached a new 52-week high on Friday , Analyst Ratings Network reports. The company traded as high as $23.13 and last traded at $22.93, with a volume of 11,562,430 shares. The stock had previously closed at $22.46.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC raised their price target on shares of Sunedison to $26.00 in a research note on Wednesday, June 18th. Separately, analysts at Macquarie initiated coverage on shares of Sunedison in a research note on Tuesday, June 17th. They set an “outperform” rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Sunedison in a research note on Tuesday, June 17th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.58.
The stock’s 50-day moving average is $19.7 and its 200-day moving average is $17.36. The company’s market cap is $6.106 billion.
Sunedison (NASDAQ:SUNE) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters 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 quarterly revenue was up 33.9% on a year-over-year basis. On average, analysts predict that Sunedison will post $-0.42 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.
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