NEW YORK (TheStreet) -- SunEdison (SUNE - Get Report) stock is extending positive momentum enjoyed over Wednesday's session, spurred by news it had closed on construction financing for a solar power project.
By midafternoon, shares had added 4.7% to $20.14. Year to date, the stock has added 53.8%.
On Wednesday, the silicon wafer manufacturer said it had closed construction financing underwritten by Deutsche Bank. The funds will be used to construct a 60MW alternating-current Regulus solar power plant in California. The plant is planned to be operational by the end of 2014.
- Compared to its closing price of one year ago, SUNE's share price has jumped by 310.95%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, our hold rating indicates that we do not recommend additional investment in this stock despite its gains in the past year.
- SUNE, with its decline in revenue, underperformed when compared the industry average of 3.4%. Since the same quarter one year prior, revenues slightly dropped by 8.2%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- SUNEDISON INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past year. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, SUNEDISON INC reported poor results of -$2.39 versus -$0.65 in the prior year. This year, the market expects an improvement in earnings (-$0.15 versus -$2.39).
- The gross profit margin for SUNEDISON INC is currently extremely low, coming in at 13.04%. It has decreased significantly from the same period last year. Along with this, the net profit margin of -51.95% is significantly below that of the industry average.
- Net operating cash flow has significantly decreased to -$399.20 million or 2106.03% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
- You can view the full analysis from the report here: SUNE Ratings Report
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