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Sunedison (NASDAQ:SUNE)‘s stock had its “underperform” rating reaffirmed by Zacks in a report issued on Monday. They currently have a $19.00 target price on the stock. Zacks‘s target price points to a potential downside of 11.26% from the stock’s previous close.

Zacks’ analyst wrote, “SunEdison swung to profit in the second quarter and revenues also compared favorably on a year-over-year basis. Nonetheless, higher operating expense remains a concern. We believe SunEdison will benefit from a rise in demand for solar energy. The divestment of the semiconductor business will enable it to concentrate on its core competencies. Moreover, its recent partnerships and cost reduction initiatives are expected to expand margins. Nonetheless, pricing environment and a highly leveraged balance sheet remain concerns for the company. Competition from its peers is also a headwind. Thus, we reiterate our Underperform recommendation on SunEdison.”

Shares of Sunedison (NASDAQ:SUNE) traded up 2.48% during mid-day trading on Monday, hitting $21.94. 5,111,988 shares of the company’s stock traded hands. Sunedison has a 52-week low of $6.24 and a 52-week high of $24.35. The stock’s 50-day moving average is $21.93 and its 200-day moving average is $19.13. The company’s market cap is $5.899 billion.

Sunedison (NASDAQ:SUNE) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.28) by $0.40. The company had revenue of $557.50 million for the quarter, compared to the consensus estimate of $571.80 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts expect that Sunedison will post $-0.61 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Sunedison from $20.00 to $24.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Sunedison from $24.00 to $28.00 in a research note on Tuesday, July 22nd. They now have an “overweight” rating on the stock. Finally, analysts at Axiom Securities initiated coverage on shares of Sunedison in a research note on Thursday, July 17th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Sunedison presently has an average rating of “Buy” and an average price target of $24.83.

SunEdison Inc, formerly MEMC Electronic Materials, Inc, is engaged in the development, manufacture and sale of silicon wafers.

To view Zacks’ full report, visit Zacks’ official website.

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