NEW YORK (TheStreet) --Shares of SunEdison Inc.
(SUNE) are climbing higher by 15.27% to $22.27 in mid-morning trading on Thursday, after the company reported a norrow net loss of -$41.2 million, or -16 cents per share for the 2014 second quarter.
SunEdison's net loss was lower from the previous year's second quarter net loss of -$102.9 million, or -45 cents per share.
Analysts polled by Thomson Reuters expected the silicon wafer manufacturer and developer to post a loss of -28 cents per share for the quarter.
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The company said its SunEdison Semiconductor
(SEMI) IPO and convertible senior notes placement gave it added flexibility and accelerated growth for the quarter.
Separately, TheStreet Ratings team rates SUNEDISON INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUNEDISON INC (SUNE) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, poor profit margins, weak operating cash flow and feeble growth in its earnings per share."
You can view the full analysis from the report here: SUNE Ratings Report
SunEdison's net sales grew to $646.2 million, from $401.3 million, while analysts had forecast revenue of $571.76 million for the 2014 second quarter.
SUNE data by YCharts
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