Shares of Chinese solar manufacturers surged Monday after the Chinese Government pledged its support to the industry. China’s government has pledged to make financing easier for solar companies and will look to stimulate domestic demand, according to a recent Bloomberg article. Additionally, China is currently developing a plan to promote renewable energy for heating purposes, the Shanghai Securities Journal reported Monday.
Canadian Solar Inc. (NASDAQ: CSIQ) shares traded in the range of $9.77 to $10.22 Tuesday before settling to close at $9.92, a decrease of 1.98 percent. The stock appears to be facing some resistance at $10.20 with some support at $9.61. Nomura currently have a “buy” rating on the company and has recently raised its price target to $25.00. Shares of Canadian Solar have gained approximately 192 percent in 2013.
More information on Canadian Solar and access to the free equity report can be found at: www.WallStreetFundamentals.com/CSIQ
LDK Solar Co., Ltd. (NYSE: LDK) shares traded in the range of $1.40 to $1.47 Tuesday before settling to close at $1.40, a decrease of 1.41 percent. The stock appears to be facing resistance at $1.45 with some support at $1.32. The company reported a net loss of $187.1 million for the first quarter of fiscal 2013, compared to a net loss of $548.5 million in the previous quarter. Shares of LDK Solar have fallen approximately 2.78 percent in 2013.
More information on LDK Solar and access to the free equity report can be found at: www.WallStreetFundamentals.com/LDK
Trina Solar Ltd. (NYSE: TSL) shares traded in the range of $6.12 to $6.35 Tuesday before settling to close at $6.14, a decrease of 1.44 percent. The stock appears to have support at the $5.96 and $5.51 levels. The company reported a net loss of $63.7 million for the first quarter of 2013, compared to a net loss of $87.2 million in the previous quarter. Shares of Trina Solar have gained approximately 41.5 percent in 2013.
More information on Trina Solar and access to the free equity report can be found at: www.WallStreetFundamentals.com/TSL
Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE) shares traded in the range of $3.13 to $3.33 Tuesday before settling to close at $3.15, a decrease of 3.08 percent. The stock appears to be facing some resistance at $3.60 with some support at $3.06. The company reported a net loss of RMB 611.8 million (US$98.5 million) for the first quarter of 2013, compared to a loss of RMB 1,249.0 million in the previous quarter. Shares of Yingli Green Energy have gained approximately 34.0 percent in 2013.
More information on Yingli Green Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/YGE
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