Insider Buying: Suncast Solar Energy (OTCMKTS:SUNC) Director Acquires 3,000 Shares of Stock

Suncast Solar Energy, Inc. (OTCMKTS:SUNC) Director Michael Jennings acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $49.68 per share, with a total value of $149,040.00. Following the acquisition, the director owned 7,590 shares in the company, valued at $377,071.20. The trade was a 65.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Suncast Solar Energy Price Performance

SUNC traded up $0.36 during trading on Tuesday, reaching $50.37. 506,305 shares of the company’s stock were exchanged, compared to its average volume of 1,717,112. Suncast Solar Energy, Inc. has a one year low of $47.00 and a one year high of $51.95. The stock has a fifty day moving average price of $7.84.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays restated an “overweight” rating and issued a $57.00 price objective on shares of Suncast Solar Energy in a report on Monday. Raymond James Financial began coverage on Suncast Solar Energy in a research note on Monday. They issued an “outperform” rating for the company. Finally, Citigroup assumed coverage on Suncast Solar Energy in a research note on Tuesday, November 11th. They issued a “buy” rating and a $65.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $61.00.

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.