Suncast Solar Energy (OTCMKTS:SUNC) Shares Gap Down – Should You Sell?

Suncast Solar Energy, Inc. (OTCMKTS:SUNC)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $54.10, but opened at $52.46. Suncast Solar Energy shares last traded at $53.88, with a volume of 77,009 shares.

Analyst Upgrades and Downgrades

SUNC has been the topic of several recent research reports. Zacks Research raised Suncast Solar Energy to a “hold” rating in a report on Monday, December 8th. Raymond James Financial upgraded Suncast Solar Energy from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a report on Monday, January 5th. Barclays restated an “overweight” rating and set a $57.00 price target on shares of Suncast Solar Energy in a report on Monday, November 17th. Finally, Citigroup started coverage on shares of Suncast Solar Energy in a research note on Tuesday, November 11th. They issued a “buy” rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $64.00.

Suncast Solar Energy Stock Performance

The stock’s 50-day moving average is $51.68 and its 200-day moving average is $23.57.

Insider Activity at Suncast Solar Energy

In other news, Director Michael Jennings bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $52.00 per share, with a total value of $52,000.00. Following the transaction, the director directly owned 8,590 shares of the company’s stock, valued at approximately $446,680. This represents a 13.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Suncast Solar Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Danske Bank A S bought a new position in shares of Suncast Solar Energy in the fourth quarter valued at approximately $133,000. Gabelli Funds LLC bought a new position in Suncast Solar Energy during the 4th quarter valued at $320,000. Pictet Asset Management Holding SA purchased a new position in Suncast Solar Energy during the 4th quarter worth $327,000. Arizona State Retirement System bought a new stake in shares of Suncast Solar Energy in the 4th quarter worth $571,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Suncast Solar Energy in the fourth quarter valued at about $606,000.

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.