Insider Selling: David A. Ranhoff Sells 14,742 Shares of Sunedison Stock (SUNE)
Sunedison (NASDAQ:SUNE) SVP David A. Ranhoff unloaded 14,742 shares of the stock on the open market in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $1.76, for a total transaction of $25,945.92. Following the completion of the transaction, the senior vice president now directly owns 150,000 shares in the company, valued at approximately $264,000. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Sunedison (NASDAQ:SUNE) traded up 2.95% during mid-day trading on Monday, hitting $21.97. 7,703,747 shares of the company’s stock traded hands. Sunedison has a 1-year low of $6.24 and a 1-year high of $24.35. The stock has a 50-day moving average of $21.78 and a 200-day moving average of $19.48. The company’s market cap is $5.907 billion.
Sunedison (NASDAQ:SUNE) last announced its earnings results 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 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.
SUNE has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus 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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