Suncast Solar Energy (OTCMKTS:SUNC) Hits New 12-Month High – Should You Buy?

Suncast Solar Energy, Inc. (OTCMKTS:SUNC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.93 and last traded at $54.24, with a volume of 119124 shares. The stock had previously closed at $54.48.

Analyst Ratings Changes

SUNC has been the topic of a number of research reports. Zacks Research upgraded Suncast Solar Energy to a “hold” rating in a research report on Monday, December 8th. Raymond James Financial upgraded Suncast Solar Energy from an “outperform” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a report on Monday, January 5th. Citigroup initiated coverage on shares of Suncast Solar Energy in a report on Tuesday, November 11th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, Barclays reissued an “overweight” rating and set a $57.00 target price on shares of Suncast Solar Energy in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $64.00.

Suncast Solar Energy Price Performance

The company has a 50-day moving average price of $51.03 and a two-hundred day moving average price of $19.49.

Insider Buying and Selling at Suncast Solar Energy

In related news, Director Michael Jennings bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were bought at an average price of $52.00 per share, for a total transaction of $52,000.00. Following the transaction, the director directly owned 8,590 shares of the company’s stock, valued at approximately $446,680. The trade was a 13.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Suncast Solar Energy stock. QV Investors Inc. acquired a new stake in shares of Suncast Solar Energy, Inc. (OTCMKTS:SUNC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,187,664 shares of the company’s stock, valued at approximately $58,528,000. Suncast Solar Energy makes up approximately 4.8% of QV Investors Inc.’s portfolio, making the stock its 4th biggest position. QV Investors Inc. owned about 0.58% of Suncast Solar Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

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. 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.