Sunedison Inc (SUNE) Stock Sets New Low Then Gains a Ton Today

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What an exciting day it has been for shareholders of Sunedison Inc (NYSE:SUNE), as the stock started the day by setting a new 52-week low of $1.37 per share before suddenly erupting into an upward slope that has finally begun to level off just minutes ago. After opening the day at $1.51 per share and then falling to $1.37, the stock has gained over 18% on the day. The cause? Several factors are at play here.

For one, the Vivint Solar hearing is taking place today, which deals with the acquisition made by Sunedison Inc (NYSE:SUNE). Additioanlly, many investors are looking at this stock, which is trading at just 5% of the 52-week high of $33.45. If the company can get their act together, and just make up 50% of these losses, that means an increase of almost 10 times what it is trading at today. More than likely shares of Sunedison Inc (NYSE:SUNE) have found a bottom, as the downside appears to be heavily outdone by the potential upside. While the company is facing plenty of debt issues, solar energy is a technology of the future. It will be interesting to see how the stock performs as the week unfolds.

The stock is up 18.44% or $0.26 following the news, hitting $1.67 per share. About 39.71M shares traded hands or up 3.49% from the average. SUNE has declined 95.36% since July 10, 2015 and is currently downtrending. It has underperformed the S&P500 by 85.16%.

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 $15.84 which is 848.50% above today’s ($1.67) stock price. SunEdison Inc was the topic of 46 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 $365.83 million. 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=’What an exciting day it has been for shareholders of Sunedison Inc (NYSE:SUNE), as the stock started the day by setting a new 52-week low of $1.37 per share before suddenly erupting into an upward slope that has finally begun to level off just minutes ago. After opening the day at $1.51 per share and then falling to $1.37, the stock has gained over 18% on the day. The cause? Several factors are at play here.

For one, the Vivint Solar hearing is taking place today, which deals with the acquisition made by Sunedison Inc (NYSE:SUNE). Additioanlly, many investors are looking at this stock, which is trading at just 5% of the 52-week high of $33.45. If the company can get their act together, and just make up 50% of these losses, that means an increase of almost 10 times what it is trading at today. More than likely shares of Sunedison Inc (NYSE:SUNE) have found a bottom, as the downside appears to be heavily outdone by the potential upside. While the company is facing plenty of debt issues, solar energy is a technology of the future. It will be interesting to see how the stock performs as the week unfolds.

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