Suncast Solar Energy (OTCMKTS:SUNC) Hits New 1-Year High – Still a Buy?

Shares of Suncast Solar Energy, Inc. (OTCMKTS:SUNC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $60.46 and last traded at $59.93, with a volume of 99980 shares trading hands. The stock had previously closed at $59.89.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SUNC shares. Barclays reaffirmed an “overweight” rating and set a $57.00 price objective on shares of Suncast Solar Energy in a research report on Monday, November 17th. 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. Zacks Research upgraded shares of Suncast Solar Energy to a “hold” rating in a research report on Monday, December 8th. Finally, Citigroup started coverage on shares of Suncast Solar Energy in a research report on Tuesday, November 11th. They set a “buy” rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $64.00.

Suncast Solar Energy Stock Performance

The stock’s fifty day simple moving average is $53.60 and its 200-day simple moving average is $30.29.

Institutional Investors Weigh In On Suncast Solar Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. QV Investors Inc. purchased a new position in Suncast Solar Energy during the 4th quarter valued at $58,528,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Suncast Solar Energy in the 4th quarter worth approximately $606,000. TD Waterhouse Canada Inc. purchased a new position in shares of Suncast Solar Energy in the fourth quarter worth approximately $949,000. Arizona State Retirement System purchased a new stake in Suncast Solar Energy during the fourth quarter valued at approximately $571,000. Finally, UBS Group AG bought a new position in shares of Suncast Solar Energy during the 4th quarter valued at approximately $49,908,000.

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.