We all know that renewable energy will continue to grow as time goes on. Whether it be solar energy or wind energy that will ultimately take off, no one knows for sure. However, SunEdison, continues to be at the forefront of renewable energy, and dispite a downgrade by UBS Research on Wednesday, the stock is up today on very heavy trade volume.
The stock is up 4.00% or $0.13, hitting $3.38 per share. About 11.78M shares traded hands. SUNE has declined 87.79% since April 24, 2015 and is downtrending. It has underperformed by 86.43% the S&P500.
Out of 2 analysts covering Sunedison (NASDAQ:SUNE), 2 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $45 is the highest target while $20 is the lowest. The $30 average target is 787.57% above today’s ($3.38) stock price. Sunedison was the topic in 9 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock on September 6 with “Buy” rating. Credit Suisse maintained it with “Outperform” rating and $45 target price in an August 7 report. JP Morgan initiated the shares of SUNE in a report on August 31 with “Overweight” rating. Finally, Robert W. Baird maintained the stock with “Hold” rating in an August 18 report.
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 $1.08 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.