Suncast Solar Energy (OTCMKTS:SUNC) Shares Gap Down – What’s Next?

Shares of Suncast Solar Energy, Inc. (OTCMKTS:SUNC) gapped down before the market opened on Monday . The stock had previously closed at $51.24, but opened at $48.50. Suncast Solar Energy shares last traded at $51.06, with a volume of 40,227 shares.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SUNC. Citigroup assumed coverage on Suncast Solar Energy in a research note on Tuesday, November 11th. They issued a “buy” rating and a $65.00 price objective for the company. Raymond James Financial started coverage on Suncast Solar Energy in a report on Monday, November 17th. They issued an “outperform” rating on the stock. Finally, Barclays reissued an “overweight” rating and issued a $57.00 price target on shares of Suncast Solar Energy in a research report on Monday, November 17th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Suncast Solar Energy has a consensus rating of “Buy” and a consensus target price of $61.00.

Suncast Solar Energy Stock Performance

The business’s 50 day moving average price is $22.44.

Insider Buying and Selling

In other Suncast Solar Energy news, Director Michael Jennings acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were acquired at an average price of $52.00 per share, with a total value of $52,000.00. Following the completion of the transaction, the director owned 8,590 shares in the company, valued at approximately $446,680. This trade represents a 13.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

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.