Solar stocks turned green again after facing declines on disappointed results from JinkoSolar (JKS) and analysts view that the surge after First Solar’s guidance was “an overreaction”. You may like to know 3 Big Things Driving Solar Stocks these days.
On the corporate front, the share price of Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) gained 17.57% to end Thursday’s session at $0.870 after saying that its main operating unit in Europe had been given a provisional two-month moratorium on debt repayments. The statement disclosed that judicial authorities in Switzerland had given the moratorium to enable the unit, Suntech Power International Ltd, to restructure its debt.
Thursday marks the fourth consecutive strong rally, which started after a report that billionaire Warren Buffett’s MidAmerican Energy Holdings Co. may buy the company forced into bankruptcy after defaulting on debt.
At recent close, the company has a market cap of $157.33 million. The stock has a 52 week worst hit of $0.30 and a 52 week high of $7.28. The P/S ratio is 0.06 and P/B ratio 0.20. The beta value is 3.04. STP RSI amounts to 58.90.
SunPower Corporation (NASDAQ:SPWR) rose 2.50% to move at $11.05. The company today revealed plan to announce its first-quarter financial results on a conference call Thursday, May 2 at 1:30 p.m. Pacific Time. The market value of this company is $1.78 billion.
It has 5220 people in workforce, over the last 12 months has generated revenue of $2.42 billion and has earnings of -$352.20 million. The firm’s operating margin is -11.90 percent and net profit margin -14.54 percent.The latest closing price of its shares moved up 1.61% from the 50-day moving average.
First Solar, Inc.(NASDAQ:FSLR) traded 2.41% higher to close at $37.19, could be moving higher due in part to a positive Forbes article. The stock closed at a distance of 31.02% from 20-day simple moving average. For this company, a return on equity of -2.66 percent has been realized due to the financial position. Last twelve months’ per-share profit reached a value of -$1.16.
In the last trading session, shares of Yingli Green Energy Hold. Co. Ltd. (ADR)(NYSE:YGE) were up 0.93% to $2.17 after a Seeking Alpha article suggested it is moving to the right direction and the partnership with GCL-Poly is the first step to get rid of its vertical integration. Its price moved -0.80% below its 200 day moving average, changing hands as low as $2.10 per share. The stock is currently trading -15.56% down its SMA 50.Theworst hit in its 52 week range is $1.25 per share, with $4.12 being the 52 week best price, which compares with a latest closing price of $2.17.The Beta of this stock is 2.81.
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