Sunedison Inc (SUNE) Shares Up Big in Pre-Market Following Yesterday’s Rout

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Shares of Sunedison Inc (NYSE:SUNE) are moving up in pre-market trading this morning after the stock had been pummelled in the previous two trading sessions. Shares are up $0.46 or 13.77% in the pre-market as investors and traders look for the stock to recover somewhat today along with the overall market.

Yesterday shares of Sunedison Inc (NYSE:SUNE) were down as much as 40% at one point, and over the last 12 trading days the stock has plunged more than 50% after rising rapidly on positive industry news after the Paris climate meetings. While shares are nowhere close to where they began just a couple days ago, the activity this morning seems to indicate that Wednesday and Thursday’s selloff was likely overdone after worrys about the Chinese market drove an overall market selloff here in the United States. The stock closed at $3.34 during the last trading session. It is down 88.92% since June 4, 2015 and is downtrending. It has underperformed the S&P500 by 84.23%.

From a total of 15 analysts covering SunEdison Inc (NYSE:SUNE) stock, 10 rate it a “Buy”, 2 a “Sell”, and 3 a “Hold”. This means that 67% of the ratings are positive. The highest target price is $42 while the lowest target price is $6.0. The mean of all analyst targets is $18.61 which is 457.19% above today’s ($3.34) stock price. SunEdison Inc was the topic of 41 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. FBR Capital initiated shares on December 18 with a “Outperform” rating. JP Morgan maintained shares with a”Overweight” rating and a $19 target share price in their report from a September 29. UBS downgraded SUNE stock in a recent report from November 25 to a “Sell” rating. S&P Research maintained the rating on September 9. S&P Research has a “Strong Buy” rating and a $32 price target on shares. Finally, Axiom Capital downgraded the stock to a “Sell” rating in a report they issued on a November 12.

SunEdison, Inc. is a developer and seller of photovoltaic energy solutions, an owner and operator of clean power generation assets, and a developer and maker of silicon wafers. The company has a market cap of $1.06 billion. The Firm operates in three divisions: Solar Energy, TerraForm Power and Semiconductor Materials through SunEdison Semiconductor Ltd. (SSL). It currently has negative earnings. The Company’s Solar Energy segment provides solar energy services that integrate the design, installation, financing, monitoring, activities and maintenance portions of the downstream solar market for the Company’s customers.

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