Sunedison Inc (SUNE) Shares Plunge Despite Rise in Oil

Share

Sunedison Inc (NYSE:SUNE) is quite a volatile company to own shares in. Following a six day run after hitting a low of $2.07 back on January 20, the stock is giving back a decent chunk of those 65% gains today. While oil prices rise considerably, shares of Sunedison Inc (NYSE:SUNE) are uncharacteristically headed in the other direction.

In fact the stock dropped so quickly earlier in the trading day that it triggered a halt for a few minutes. Shares, which were trading close to $7 just over one month ago, are being pushed down by fears related to a recent class action lawsuit and the lack accurate of information that the company provided to shareholders. The drop in oil prices over the last month and a half has also added major downward pressure to Sunedison Inc’s (NYSE:SUNE) stock. Needless to say the recent volatility has certainly been a blessing to daytraders.

The stock is down 6.61% or $0.22 following the news, hitting $3.11 per share. Approximately 27.51M shares traded hands. SUNE shares have declined 89.64% since June 23, 2015 and are currently downtrending. It has underperformed the S&P500 by 80.77%.

From a total of 16 analysts covering SunEdison Inc (NYSE:SUNE) stock, 11 rate it a “Buy”, 1 a “Sell”, and 4 a “Hold”. This means that 69% of the ratings are positive. The highest target price is $42 while the lowest target price is $2. The mean of all analyst targets is $16 which is 414.47% above today’s ($3.11) stock price. SunEdison Inc was the topic of 45 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Avondale upgraded shares on January 8 to a “Mkt Outperform” rating. JP Morgan maintained shares with a”Overweight” rating and a $19 target share price in their report from a September 29. Needham maintained SUNE stock in a recent report from January 8 with a “Buy” 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, FBR Capital initiated the stock with a “Outperform” rating in a report they issued on a December 18.

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.

#focuskw=’Sunedison Inc (NYSE:SUNE)’##metadesc=’Sunedison Inc (NYSE:SUNE) is quite a volatile company to own shares in. Following a six day run after hitting a low of $2.07 back on January 20, the stock is giving back a decent chunk of those 65% gains today. While oil prices rise considerably, shares of Sunedison Inc (NYSE:SUNE) are uncharacteristically headed in the other direction. In fact the stock dropped so quickly earlier in the trading day that it triggered a halt for a few minutes. Shares, which were trading close to $7 just over one month ago, are being pushed down by fears related to a recent class action lawsuit and the lack accurate of information that the company provided to shareholders. The drop in oil prices over the last month and a half has also added major downward pressure to Sunedison Inc’s (NYSE:SUNE) stock. Needless to say the recent volatility has certainly been a blessing to daytraders. ‘##metarobot=’index’##newskw=’Zafgen Inc positive news,Zafgen Inc – (NASDAQ:ZFGN),NASDAQ:ZFGN Analyst rating analysis,Stock Analysis,Outlook and potential,ZFGN Price change and trend,ZFGN stock update’##sitemap=’include’##skipsocial##stockticker=’NYSE:SUNE’#

COMMENTS: