Canadian Solar Inc. (NASDAQ:CSIQ) shares decreased -18.19% in last trading session and ended the day at $20.20. Zacks lowered shares of Sunedison from a hold rating to a sell rating in a report on Tuesday, May 12th.
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Several other research firms also recently weighed in on SUNE. SunEdison shares surged after the close of regular trading in New York.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc. Credit Suisse reiterated a “buy” rating on shares of Sunedison in a research report on Thursday, August 13th. The 12-month consensus target price for the stock is $30.45, which reflects an upside potential of 151.65% over the current price. Sunedison presently has an average rating of “Buy” and an average target price of $31.66.
Sunedison (NYSE:SUNE) traded down 7.138% on Wednesday, reaching $13.465.
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. What management didn’t talk much about on the conference call was the company’s continued losses, including $263 million last quarter alone. The business earned $455 million during the quarter, compared to analysts’ expectations of $393.71 million. The result represents a significant decrease from the USD 61.3 million, or USD 1.04 per diluted share, booked in the first quarter of 2015 as well as from the USD 55.8 million, or USD 0.95 per diluted share, reported a year ago. Just Monday, its shares rose 6% following an announcement that it had formed a new billion acquisition fund with backing from Goldman Sachs.
The warehouse investment vehicle, WSIP Warehouse, will fund construction costs and be used to acquire operating assets.
TerraForm Power Inc., a global owner and operator of clean energy power plants, has acquired the project.
SunEdison Services will operate and maintain the solar system.
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About SunEdison SunEdison is the world’s largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe.
