Wall Street Fundamentals Releases New In-Depth Stock Reports on CSIQ, SCTY, SUNE and YGE
On Tuesday, the Chinese Solar Industry received another blow after the European Union announced anti-dumping tariffs on imported Chinese solar panels. EU Trade Commissioner Karel De Gucht stated tariffs of approximately 12 percent will be imposed on imported solar panels, cells and wafers this week, before rising to 47.6 percent in August if no settlement is reached. The EU is accusing China of selling solar panels below costs in an attempt to corner the market. Chinese solar panels currently make up approximately 80 percent of the European market. Here is how some solar stocks reacted to the news Tuesday:
Canadian Solar Inc. (NASDAQ: CSIQ) shares traded in the range of $8.70 to $9.55 Tuesday before settling to close at $8.91, an increase of 1.14 percent, on volume of 2.36 million shares traded. The stock appears to have some resistance at $10.26. The company recently announced that it has signed a RMB270 million (US$44.1 million) loan agreement with China Development Bank. Shares of Canadian Solar have gained over 160 percent so far in 2013.
More information on Canadian Solar and access to the free equity report can be found at: www.WallStreetFundamentals.com/CSIQ
SolarCity Corp. (NASDAQ: SCTY) shares traded in the range of $36.50 to $40.44 Tuesday before settling to close at $37.00, a decrease of 9.25 percent, on volume of 3.57 million shares traded. The stock appears to have some strong support at $23.67. The company grew their customer base to 57,416 in the first quarter of 2013, a year-over-year increase of 106 percent. Shares of SolarCity have gained over 210 percent so far in 2013.
More information on SolarCity and access to the free equity report can be found at: www.WallStreetFundamentals.com/SCTY
Sunedison Inc. (NYSE: SUNE) shares traded in the range of $7.82 to $8.40 Tuesday before settling to close at $7.94, a decrease of 4.91 percent, on volume of 7.5 million shares traded. On June 3, 2013, the company’s ticker symbol on the New Stock Exchange changed from “WFR” to “SUNE”, the company has also changed its name from MEMC Electronic Materials, Inc. to SunEdison, Inc.Shares ofSunEdison are up approximately 145 percent so far in 2013.
More information on Sunedison and access to the free equity report can be found at: www.WallStreetFundamentals.com/SUNE
Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE) shares traded in the range of $2.89 to $3.09 Tuesday before settling to close at $2.95, a decrease of 0.34 percent, on volume of 3.18 million shares traded. The stock appears to be facing resistance at $3.05 with support at $2.82. The company reported PV module shipments declined 6.4 percent in the first quarter of 2013 when compared to the previous quarter. Shares of Yingli Green Energyare up approximately 25.5 percent so far 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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Disclaimer:
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Contact: Wall Street Fundamentals Website: www.WallStreetFundamentals.com Email: editor@wallstreetfundamentals.com