Cereplast Inc. (OTCMKTS:CERP) Up 27.78%, Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) Up 20.76%

Posted by Michael Korte May 20, 2013 0 Comment 2653 views


Cereplast Inc. (OTCMKTS:CERP) Up 27.78%, Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) Up 20.76%

Northern, WI 05/20/2013 (GDPInsider) –  Cereplast Inc. (OTCMKTS:CERP) is up 27.78% in today’s trading after a strong start in the session. The stock opened at  0.04, no better than its previous close of 0.04 but quickly began its northward climb. The stock has a range of 0.0392 and 0.05 and volume is 19.558 million. Average volume is 12.223 million and the stock is down 34.29% on its 52-week high of 0.07. CERP is however up 360.00% on its 52-week low of 0.01.

In recent weeks CERP has made a few announcements on positive developments surrounding the company. Most notable is the announcement that the company has started a major reorganization of its global operations in a bid to reduce costs. According to CERP, the reorganization which would align the company with market opportunities is expected to reduce operating expenses by $600,000 to around $800,000 a year. Mr. Frederic Scheer, Chairman and CEO of Cereplast also gave some insights into the operations of the company. “As we recently announced, our revenue for the first quarter of 2013 was approximately $900,000 to $1 million, exceeding the total revenue for the entire fiscal year of 2012,” said Mr Scheer.

CERP has a RSI of 87.27 and analysts have set a target price of 0.75 for the stock.

Is CERP a solid investment at these levels? Get exclusive data and trends here.

Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) started the day’s trading at 0.69, a full 0.03 clear of the previous close of 0.66. The stock is up 20.76% on trading volume of 5.523 million, a shave under its average volume of 5.822 million.

STP is a leading solar energy company which focuses on the design, development, manufacturing and marketing of photovoltaic (PV) products and also provides engineering, procurement and construction services to building solar power systems using its own solar modules for residential, commercial, and utility-scale power plant customers. The company recently announced the deferment of a $541 million loan. This announcement came after STP defaulted on a principal payment of the 3% convertible notes on the books as at March 15.

STP is currently up 154.90% on its 52-week low of 0.30 but down 64.27% on its 52-week high of 2.14. Analysts have set a target of 1.17 for the stock and STP is up 19.86% on its SMA20. The company is also up 21.11% on its SMA50 and has a RSI of 64.22.

How Should Investors Trade STP Now? Get exclusive insights and updates here.

 

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About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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