Is SunEdison Inc (NYSE:SUNE) a Good Investment?

[Market Watch] SunEdison Inc (NYSE:SUNE)(TREND ANALYSIS) At a dedication event in Coconino County, SunEdison, Inc. SUNE, -6.83% the largest global renewable energy development company, celebrated the commissioning of 1.2 megawatts (MW) DC of solar carport and rooftop systems at four Coconino County, Ariz., government facilities. The buildings include the county’s King Street Community Services building, law enforcement administration facility, juvenile detention center and correctional facility.

Coconino County is buying the solar power generated by the systems through a 25-year power purchase agreement, and estimates that they will save $2.7 million over the life of the agreement.

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SunEdison Inc (NYSE:SUNE) stock is currently trading 69% below its 52-week-high, 28.02% above its 52-week-low. The 1-year stock price history is in the range of $8.1 – $33.45. SunEdison Inc (SUNE) has a price to book ratio of 5.49 versus Technology sector average of 3.24. SUNE stock price has underperformed the S&P 500 by 43.8%. The Alternative Energy company is currently valued at $3.27 billion and its share price closed the last trading session at $10.37. The stock has a 50-day moving average of $13.07 and a 200-day moving average of $24.01.

SunEdison Inc (SUNE) current short interest stands at 90.33 million shares. It has increased by 2% from the same period of last month. Around 35% of the company’s shares, which are float, are short sold. With a 10-days average volume of 19.9 million shares, the number of days required to cover the short positions stand at 4.6 days.

The company is expected to announce next quarter earnings on November 04, at consensus estimate of $-0.55. SunEdison Inc (SUNE) reported last quarter earnings on August 06. The Alternative Energy company announced earnings per share of $-0.74 against a consensus Street estimate of $-0.45, missing estimate by $0.29. This corresponds to a decrease of $0.57 compared to the same quarter of the previous fiscal year.

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There are currently sixteen analysts that cover SunEdison Inc stock. Of those sixteen, thirteen have a Buy rating, three have a Hold rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $23.64.

A recent analyst activity consisted of Bank of America who resumed their coverage on the stock with Buy rating on September 15. Bank of America decreased price target from $18 to $18. This corresponds to a 73.58% upside from the last closing price. On the date of report, the stock closed at $11.25.

Janney Capital initiated their coverage on the stock with Buy rating on September 9. On the date of report, the stock closed at $11.96.

Another research firm was JP Morgan who reiterated their Overweight stance on September 8. JP Morgan decreased price target from $24 to $23. This translates to a 121.79% upside from the last closing price. On the date of report, the stock closed at $12.94.

Company profile

SunEdison, Inc. manufactures semiconductors and solar energy technology. The Company produces electronic-grade polysilicon used for electronics, solar cells, and film devices. SunEdison also develops solar power projects. SunEdison markets its products to corporations, utilities, governments and chip manufacturers.

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