Analyst Update: Sunedison, bluebird bio, TASER

Analysts adjusted their ratings on Sunedison Inc (SUNE), bluebird bio Inc (BLUE), and TASER International, Inc. (TASR)

Nov 18, 2015 at 2:47 PM
facebook twitter linkedin

Analysts are weighing in today on solar energy concern Sunedison Inc (NYSE:SUNE), biotech interest bluebird bio Inc (NASDAQ:BLUE), and weapon manufacturer TASER International, Inc. (NASDAQ:TASR). Here's a quick roundup of today's brokerage notes on SUNE, BLUE, and TASR.

  • It's been a volatile day for SUNE. The stock touched a new three-year low of $2.71, then rallied as high as $3.34, and was last seen up 7% at $3.23 before getting halted for volatility. The stock got a $3 price-target cut to $15 -- still a level the shares haven't seen since August -- at BofA-Merrill Lynch. This is hardly a surprise, considering that Sunedison Inc has lost more than 84% of its value in 2015, and has shed 55.8% in November alone. Still, 10 out of 14 brokerage firms give SUNE a "buy" or better rating. The solar energy company last week fueled concerns about liquidity, and yesterday suffered a loss of more than 33% on the news that two major shareholders had drastically reduced their stakes in the company. It's no surprise that nearly one-third of the stock's available float is sold short, accounting for more than three days' of trading, at SUNE's typical volumes.

  • Goldman Sachs initiated coverage on BLUE with a "buy" rating and a price target of $165 -- more than double yesterday's close of $79.61. Bluebird bio Inc has gained 4.6% so far today, last seen at $83.25, and Goldman opined that "current share levels represent an attractive entry point." The security is down 9.2% year-to-date, and has lost more than half its value since peaking at $197.35 in May. The shares hit a year-to-date low earlier this month, after the company's quarterly earnings fell short of expectations -- yet all 12 analysts covering the stock give it a "buy" rating or better. Options traders are less convinced of BLUE's potential, though, as it holds a Schaeffer's put/call open interest ratio (SOIR) of 0.74 -- higher than 71% of readings in the past year -- indicating a heavier-than-usual penchant for near-term puts over calls.

  • TASR is up 9.9% today, last seen trading at $18.42, thanks to an upgrade to "buy" at Ladenburg Thalmann. The brokerage firm also set a $24 price target, and waxed optimistic on TASR's chances of winning a contract with the London Metro Police, which could spark "broader adoption in northern Europe." The security -- which last month announced a partnership with Microsoft Corporation (MSFT) -- has lost more than 30% of its value so far this year, and yesterday touched an annual low of $16.74. It also recently reported a third-quarter earnings miss. More than a quarter of TASER International, Inc.'s float is sold short, which would take more than a week to buy back, at TASR's average pace of trading. In the options pits, the stock has racked up a 50-day put/call volume ratio of 0.77 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- 1 percentage point shy of an annual high.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Apple Inc., Kite Pharma Inc, and Biomarin Pharmaceutical Inc. and Analyst Downgrades: GoPro Inc, Diana Shipping Inc., and Seattle Genetics, Inc.

Begin the New Year With Schaeffer's 7 FREE 2022 Stock Picks!



Special Offers from Schaeffer's Trading Partners