Dallas, Texas 07/16/2013 (Financialstrend) – Sunedison. Inc. (NYSE:SUNE), formerly known as MEMC Electronic Materials, Inc., is primarily involved in providing semiconductor and solar technology related products to private companies and governmental agencies around the world. The company’s market capitalization recently touched the value of $2 billion. Despite weak results reported for the financial performance of the first quarter, the company’s guidance for the next quarter was still promising and thereby analysts expect that the firm will manage to deliver double digit growth of earnings per share over the next five years.
The solar installations segment of the company currently contributes the largest share in the revenue generation for the firm, although the other business segments like that of the silicon wafers still continue to ensure large amount of cash flow to the company. As the entire world is moving towards the get green campaign, it appears that Sunedison, Inc. is efficiently positioned to reap the benefits of increased demand for solar power and other technologies related to the production of solar power. A strong focus has recently been emphasized on distributed generation (DG) of solar power. This approach involves the use of small scale technologies to produce electricity from solar power right at the close proximity of the end users of the power. This will further ensure a reduction of the cost of power generation owing to the elimination of distribution costs. It is further expected that the size of the solar power segment will at least double by the year 2016.
Intraday range was from a low price of $9.15 to a high price of $10.09. The share price of Sunedison, Inc. (NYSE:SUNE) currently trading at $9.50, decreased by 2.86%. The price range of Sunedison for the past 52 weeks was from $1.68 to $10.09. The stock opened at the price of $9.91 with a market capitalization of $2.20 billion and 231.81 million outstanding shares. With an institutional ownership of 84%, the trading volume for the day of Sunedison was 6.25 million and the average trading volume was 4.47 million shares.