Insider Selling: Carlos Domenech Sells 313,992 Shares of Sunedison Stock (SUNE)
Sunedison (NASDAQ:SUNE) EVP Carlos Domenech unloaded 313,992 shares of Sunedison stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $21.15, for a total value of $6,640,930.80. Following the transaction, the executive vice president now directly owns 42,945 shares in the company, valued at approximately $908,287. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Sunedison (NASDAQ:SUNE) traded up 0.05% on Friday, hitting $21.34. The stock had a trading volume of 8,620,294 shares. 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 $21.84 and its 200-day moving average is $19.33. The company’s market cap is $5.738 billion. Sunedison also was the recipient of unusually large options trading activity on Thursday. Stock investors bought 41,552 call options on the stock. This is an increase of approximately 126% compared to the average daily volume of 18,424 call options.
Sunedison (NASDAQ:SUNE) last released its earnings data 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 $-0.59 EPS for the current fiscal year.
A number of research firms have recently commented on SUNE. Analysts at Cowen and Company initiated coverage on shares of Sunedison in a research note on Tuesday. They set a “market perform” rating and a $20.00 price target on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Sunedison in a research note on Tuesday. They set a “buy” rating and a $21.65 price target on the stock. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Sunedison in a research note on Monday. They now have a $19.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $24.22.
SunEdison Inc, formerly MEMC Electronic Materials, Inc, incorporated on October 1, 1984, is engaged in the development, manufacture and sale of silicon wafers.
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