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Short-Selling Activity Is Getting Hotter At SunEdison

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Astec Analytics' hot stocks list includes the firm’s top picks from a securities lending perspective.

Sunedison Inc (NYSE: SUNE) is a hot stocks regular, which saw many short positions closed a couple of weeks ago as upside seemed to run out and the cost to borrow the shares continued to rise.

Nonetheless, this past week saw borrow volumes spike again, up 14 percent over the last seven days. With shares still trading below $0.40, “the only likely explanation is that new short positions have been attracted by the 30 percent fall in the borrowing cost,” Astec's report said.

Related Link: 80% Of Tesla Shares Are Borrowed By Short Sellers

While the stock remains relatively pricey, “there is a potential return available if they fall sufficiently further or the company does indeed go bankrupt, but the new trading has added some spark to the next few weeks for observers of SunEdison,” the experts concluded.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Latest Ratings for SUNE

DateFirmActionFromTo
Mar 2016Stifel NicolausTerminatesHold
Mar 2016Axiom CapitalMaintainsSell
Mar 2016Avondale PartnersDowngradesMarket OutperformMarket Perform

View More Analyst Ratings for SUNE
View the Latest Analyst Ratings

Posted-In: Astec Analytics FISAnalyst Color Short Ideas Analyst Ratings Trading Ideas

 

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