Suncast Solar Energy (OTCMKTS:SUNC) Sets New 52-Week High – Time to Buy?

Shares of Suncast Solar Energy, Inc. (OTCMKTS:SUNC) reached a new 52-week high on Tuesday . The stock traded as high as $59.83 and last traded at $58.47, with a volume of 452684 shares trading hands. The stock had previously closed at $58.94.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Zacks Research upgraded shares of Suncast Solar Energy to a “hold” rating in a research report on Monday, December 8th. Citigroup assumed coverage on shares of Suncast Solar Energy in a report on Tuesday, November 11th. They issued a “buy” rating and a $65.00 target price for the company. Raymond James Financial raised 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. Finally, Barclays reaffirmed an “overweight” rating and set a $57.00 price objective on shares of Suncast Solar Energy in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Suncast Solar Energy currently has an average rating of “Buy” and an average target price of $64.00.

Suncast Solar Energy Price Performance

The stock has a fifty day simple moving average of $53.19 and a two-hundred day simple moving average of $29.25.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. purchased a new stake in shares of Suncast Solar Energy during the 4th quarter worth $126,936,000. Millennium Management LLC purchased a new position in shares of Suncast Solar Energy in the 4th quarter valued at about $76,886,000. Norges Bank acquired a new stake in shares of Suncast Solar Energy in the fourth quarter valued at about $74,696,000. Morgan Stanley acquired a new stake in shares of Suncast Solar Energy in the fourth quarter valued at about $73,776,000. Finally, Engine Capital Management LP purchased a new stake in Suncast Solar Energy during the fourth quarter worth about $67,976,000.

Suncast Solar Energy Company Profile

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.