Suncast Solar Energy (OTCMKTS:SUNC) Trading Down 0.3% – Should You Sell?

Suncast Solar Energy, Inc. (OTCMKTS:SUNC)’s stock price was down 0.3% during mid-day trading on Wednesday . The company traded as low as $48.85 and last traded at $49.28. Approximately 323,176 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 848,926 shares. The stock had previously closed at $49.42.

Analyst Upgrades and Downgrades

SUNC has been the subject of a number of research analyst reports. Barclays reaffirmed an “overweight” rating and set a $57.00 price objective on shares of Suncast Solar Energy in a research note on Monday, November 17th. Raymond James Financial started coverage on shares of Suncast Solar Energy in a report on Monday, November 17th. They issued an “outperform” rating for the company. Zacks Research raised shares of Suncast Solar Energy to a “hold” rating in a research report on Monday, December 8th. Finally, Citigroup began coverage on shares of Suncast Solar Energy in a report on Tuesday, November 11th. They issued a “buy” rating and a $65.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.00.

Suncast Solar Energy Price Performance

The firm’s 50 day moving average price is $40.30.

Insiders Place Their Bets

In other Suncast Solar Energy news, Director Michael Jennings purchased 3,000 shares of Suncast Solar Energy stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $49.68 per share, with a total value of $149,040.00. Following the completion of the transaction, the director directly owned 7,590 shares in the company, valued at approximately $377,071.20. This represents a 65.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by company insiders.

Suncast Solar Energy Company Profile

Suncast Solar Energy, Inc, through its subsidiary, Environmental Testing Laboratories, Inc, provides environmental testing services in the northeast United States. The company’s services include resource conservation recovery act and hazardous waste characterization, toxic characteristic leaching procedure analyses, underground storage tank analytical assessment, landfill/ground water monitoring, and pesticide and herbicide testing in soil and groundwater services. Its services also comprise national pollution discharge elimination system effluent characteristics analysis, PCB (polychlorinated biphenyls) and PCB congener analysis, HUD lead abatement testing, fingerprint categorization, petroleum analyses, client specific deliverables, and electronic data deliverables.