TerraForm stock rose 1.3% Monday to 25.83, but it’s down almost 40% from its all-time high of 42.66, touched in April.
Several other brokerages have also commented on SUNE. The company has a market cap of $4,244 million and the number of outstanding shares have been calculated to be 315,053,000 shares. It has surge over the last 12 months, decreasing -38.63% and marked new low $11.78 on August 12, 2015. The company has been rated an average of 1.86 by 7 Wall Street Analysts.
Sunedison Inc using SYMBOL/TICKER code NYSE:SUNE has had its stock rating noted as “Reitereated” with the recommendation being set at “BUY” this morning by analysts at Needham. SunEdison, Inc. (NYSE:SUNE) distance from 50-day simple moving average (SMA50) is -49.15%. Bank of America reissued a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of Sunedison in a research note on Saturday, May 23rd. Analysts forecast that Sunedison will post ($3.47) earnings per share for the current year. The equity research firm lowered its price objective from $35 to $20, while reiterating a Neutral rating on the stock. Instead, the demand only called for 45 million shares at $15 and it raised just $675 million. The business’s revenue for the quarter was up 5.6% compared to the same quarter past year . Nevertheless, shares fell as a response to the company’s $263 million net loss, as investors were left concerned over SunEdison’s many new acquisitions. The 12-month average target price stands at $29.18, implying upward potential of 117% over Wednesday, August 9 closing price of $13.45.
In the past year, six solar companies have gone public in the United States, raising a combined $1.85-billion, according to IPO ETF manager Renaissance Capital. The Company operates in three segments: Solar Energy, TerraForm Power and Semiconductor Materials through SunEdison Semiconductor Ltd. (SSL). After acquiring Vivint, the company will drop down its 523-MW rooftop solar portfolio to yieldco vehicle TerraForm Power Inc (NASDAQ:TERP) in exchange for a cash payment of Dollars 922 million.
SunEdison Inc, formerly MEMC Electronic Materials, Inc., incorporated on October 1, 1984, is engaged in the development, manufacture and sale of silicon wafers. SunEdison is one of the world’s largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services.