Insider Selling: Sunedison EVP Sells 313,992 Shares of Stock (SUNE)
Sunedison (NASDAQ:SUNE) EVP Carlos Domenech unloaded 313,992 shares of Sunedison stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $21.15, for a total transaction of $6,640,930.80. Following the completion of the transaction, the executive vice president now directly owns 42,945 shares of the company’s stock, valued at approximately $908,287. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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, August 12th. 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, August 12th. 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, August 11th. 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 issued a hold rating and fourteen have given a buy rating to the stock. Sunedison presently has a consensus rating of “Buy” and an average target price of $24.22.
Shares of Sunedison (NASDAQ:SUNE) traded up 0.05% during mid-day trading 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 has a 50-day moving average of $21.81 and a 200-day moving average of $19.38. The company’s market cap is $5.738 billion. Sunedison also saw unusually large options trading activity on Thursday. Traders bought 41,552 call options on the stock. This represents an increase of approximately 126% compared to the average daily volume of 18,424 call options.
Sunedison (NASDAQ:SUNE) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that Sunedison will post $-0.59 EPS for the current fiscal year.
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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