SunEdison is suspending stock contributions to the retirement savings plans of its executives, TheStreet TV anchor Rhonda Schaffler reports in the above video.
NEW YORK (TheStreet) -- SunEdison (SUNE) stock is up by 15% to $1.38 in mid-afternoon trading on Monday, as the renewable energy company is temporarily suspending stock contributions to the retirement savings plans of its directors and executives, MarketWatch reports.
The "blackout period" will continue until the company is up to date with its financial filings with the SEC.
SunEdison has delayed filing its annual 10-K statement to the SEC twice. If the company does not file the report by March 30, it could face a technical default on $1.4 billion in loans and credit facilities, Bloomberg reported.
Shares plunged to $1.21 on Thursday, closing at their lowest level since September 2001, MarketWatch adds.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
SunEdison's weaknesses include its generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: SUNE
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.