Suncast Solar Energy (OTCMKTS:SUNC) Reaches New 12-Month High – Still a Buy?

Shares of Suncast Solar Energy, Inc. (OTCMKTS:SUNC) reached a new 52-week high on Monday . The company traded as high as $60.46 and last traded at $59.93, with a volume of 99980 shares trading hands. The stock had previously closed at $59.89.

Wall Street Analysts Forecast Growth

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

Suncast Solar Energy Trading Down 1.4%

The stock’s 50-day simple moving average is $54.00 and its 200 day simple moving average is $31.12.

Institutional Inflows and Outflows

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