SunEdison, Inc. SUNE was a big mover last session, as the company saw its shares rise more than 9% on the day. Shares moved up after its unit TerraForm Global (GLBL) canceled a $3.45 billion deal with a Brazilian renewable energy company. This led to solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend of the company as the stock is now down 55.1% in the past one-month time frame.
This semiconductor industry stock witnessed three negative estimate revisions in the past 30 days. The Zacks Consensus Estimate also moved down over the same time frame, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
SunEdison has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
However, a better-ranked stock in the same space is CEVA Inc. CEVA, sporting a Zacks Rank #1 (Strong Buy).
Is SUNE going up? Or down? Predict to see what others think: Up or Down
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