Suncast Solar Energy (OTCMKTS:SUNC) Sets New 52-Week High – Time to Buy?

Shares of Suncast Solar Energy, Inc. (OTCMKTS:SUNC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $55.73 and last traded at $55.42, with a volume of 54362 shares. The stock had previously closed at $54.97.

Analyst Ratings Changes

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

Suncast Solar Energy Stock Performance

The business has a 50-day simple moving average of $51.99 and a two-hundred day simple moving average of $25.84.

Insider Buying and Selling at Suncast Solar Energy

In other news, Director Michael Jennings acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average cost of $52.00 per share, for a total transaction of $52,000.00. Following the transaction, the director directly owned 8,590 shares in the company, valued at approximately $446,680. This represents a 13.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Deutsche Bank AG acquired a new stake in Suncast Solar Energy in the fourth quarter valued at $92,000. Danske Bank A S acquired a new position in shares of Suncast Solar Energy during the 4th quarter worth $133,000. Commonwealth Equity Services LLC purchased a new position in shares of Suncast Solar Energy in the 4th quarter valued at about $272,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Suncast Solar Energy in the fourth quarter valued at about $312,000. Finally, Gabelli Funds LLC acquired a new stake in shares of Suncast Solar Energy in the fourth quarter valued at about $320,000.

About Suncast Solar Energy

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.