Sunlight Financial (NYSE:SUNL – Get Rating) was downgraded by stock analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued on Friday, MarketBeat.com reports. They presently have a $1.60 price target on the stock, down from their prior price target of $4.00. Credit Suisse Group’s price target points to a potential upside of 20.30% from the company’s previous close.
A number of other brokerages have also weighed in on SUNL. Roth Capital lowered shares of Sunlight Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $2.50 in a research report on Thursday, September 29th. Citigroup lowered shares of Sunlight Financial from a “buy” rating to a “sell” rating and dropped their target price for the stock from $4.00 to $2.00 in a research report on Thursday, September 29th. Cowen lowered their price objective on shares of Sunlight Financial to $3.25 in a research report on Thursday, November 17th. Finally, Cowen lowered their price objective on shares of Sunlight Financial from $8.75 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, September 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.06.
Sunlight Financial Price Performance
Shares of NYSE SUNL opened at $1.33 on Friday. The firm has a fifty day moving average price of $1.47 and a 200-day moving average price of $2.23. The stock has a market cap of $172.00 million, a PE ratio of -0.30 and a beta of 2.83. Sunlight Financial has a 1 year low of $0.96 and a 1 year high of $5.70.
Hedge Funds Weigh In On Sunlight Financial
Institutional investors have recently bought and sold shares of the business. ECP ControlCo LLC purchased a new stake in shares of Sunlight Financial in the third quarter valued at $5,153,000. Alliancebernstein L.P. raised its stake in shares of Sunlight Financial by 48.6% in the third quarter. Alliancebernstein L.P. now owns 5,500,956 shares of the company’s stock valued at $6,821,000 after acquiring an additional 1,799,793 shares during the period. Ares Management LLC purchased a new stake in shares of Sunlight Financial in the first quarter valued at $8,891,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sunlight Financial in the first quarter valued at $3,895,000. Finally, State Street Corp raised its stake in shares of Sunlight Financial by 524.3% in the second quarter. State Street Corp now owns 748,593 shares of the company’s stock valued at $2,208,000 after acquiring an additional 628,682 shares during the period. Institutional investors own 29.60% of the company’s stock.
Sunlight Financial Company Profile
Sunlight Financial Holdings Inc operates a business-to-business-to-consumer technology-enabled point-of-sale financing platform in the United States. Its platform is used to provide secured and unsecured loans for homeowners originated by third-party lenders to purchase and install residential solar energy systems, and other home improvements.
- Get a free copy of the StockNews.com research report on Sunlight Financial (SUNL)
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