3 Solar Stocks on the Rise $LDK $JASO $ESLR
Beacon Equity Research
JA Solar Holdings Co. Ltd. (ADR) (NASDAQ: JASO) is a China-based company engaged in the manufacturing ofhigh-performance solar cells. The company is engaged in the productionand sale of mono-crystalline and multi-crystalline solar cells.
JA Solar entered into a Financial Partnership Agreement with ChinaDevelopment Bank in September. Per the agreement, China Development Bank will provide up to RMB 30 billion of credit facilities and financing to JA Solar to support the company’s long-term growth and corporatedevelopment plans. Over the last three months, the company signed aseries of supply agreements as well.
The ADRs of JA Solar are up 52.63% since the beginning of this year.The ADRs have a 52-week range of $3.57-$9.47. They are currently trading above their 50-day and 200-day moving averages.
Evergreen Solar Inc. (NASDAQ: ESLR) is a Marlboro, Massachusetts-based company engaged in the development,manufacturing and marketing of String Ribbon solar panels.
Last week, Evergreen Solar announced that it appointed MichaelEl-Hillow as its new president and CEO. El-Hillow replaced Richard M.Feldt, who will join a privately held company as CEO. El-Hillowcommented that Feldt left a great platform, which the company’sstakeholders, customers and employees will continue to benefit from asit further leverages its unique technology and extends its leadershipposition.
Evergreen Solar has a 52-week range of $0.60-$1.91. Year-to-date, the stock is down 49.42%. The penny stock is currently trading above its 50-day and below its 200-day moving average.
LDK Solar Co. Ltd. (NYSE: LDK) is a China-based company engaged in the production of solar wafers interms of capacity. The company is also a manufacturer of solar modules.The company offers multi-crystalline and mono-crystalline wafers tomanufacturers of solar cells and modules.
Earlier this week, LDK Solar announced that it entered into astrategic financing agreement with China Development Bank Corporation.As per the agreement, the company will be provided with creditfacilities of RMB 60 billion by China Development Bank Corporation over a 5-year period.
LDK Solar stock has a 52-week range of $4.97-$10.84. The stock iscurrently trading above its 50-day and 200-day moving averages.Year-to-date, the stock is up an impressive 43.37%.
