Hanwha Solarone Co Ltd (NASDAQ:HSOL) Up 7.41% as Solar Stocks Rally

Posted by Chris Bell June 13, 2013 0 Comment 1116 views


Northern, WI 06/13/2013 (GDPInsider) – Hanwha Solarone Co Ltd (NASDAQ:HSOL) opened today at 1.62, level with its previous close and is up 7.41% in current market valuation. The good run for HSOL comes amidst a general rebound in solar stocks. HSOL has a range of 1.60 and 1.78 and volume in today’s session is 816.02K, a slight bump on its average volume of 775.79K.

HSOL is a leading manufacturer and seller of silicon ingots, silicon wafers, photovoltaic (PV) cells, and PV modules. The company is coming off its Q1 2013 earnings results which were discussed on May 30, 2013.

During the earning call, Chairman of HSOL, Ki-Joon Hong, discussed the progress the company has made in the last few months as well give insights into the future growth plans of the company. “We are quite pleased with the progress achieved in a number of areas during the first quarter and look forward to farther improvement as the remainder of the year unfolds.

Firstly, to some of the major achievements for the period, cost variables was the reflection of higher shipment volumes and improved prices driving the return back to gross profitability. We substantially narrowed the gap to reaching operating break-even and positive operating cash flow,” said Chairman Hong.

Chairman Hong’s confidence and optimism is well placed because in the last few weeks solar product and service prices have stabilized and with it a settling in confidence by investors.

HSOL’s uptrend has been consistent and the stock is now trading above both its SMA50 and SMA20. RSI is 59.93, indicating that investors have the room to make gains before the stock because overbought.

HSOL technical setup is supported by its strong Q1 2013 performance which delivered a 40% increase in revenue to $179.2 million.

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

 

Disclosure:

WallStreetAnalyzed.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please visit WallStreetAnalyzed.com website, for complete risks and disclosures.

 

 


About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

View all post by Chris Bell Visit author's website

Write Your Comment