Small Caps Trading Up: NewLead Holdings Ltd (NASDAQ:NEWL), LDK Solar Co., Ltd (ADR) (NYSE:LDK)
Northern, WI 05/13/2013 (GDPInsider) – NewLead Holdings Ltd (NASDAQ:NEWL) opened trading at 0.29, 0.03 above its previous close of 0.26 and the stock is up 4.58%. Trading volume is 503.06K, a figure which betters the average trading volume of 466.65K. NEWL has a range of 0.26 and 0.30 and the stock is trading 89.75% below its 52-week high of 2.73. NEWL is however, up 11.96% on its 52-week low of 0.25.
NewLead Holdings is an international shipping company which transports refined products like jet fuel and gasoline around the world. The company recently announced that it had entered into a 5-year time charter contract with a 60% profit sharing setup for its panamax vessel called the Newlead Victoria built in 2002. The net daily charter rate for NewLead Victoria is set at $11,700 a day and this rate will remain extant until December 29, 2014. Other rates include $12,723.75 which is set to run until December 29, 2015; $12,918.75 which is set to run until December 29, 2017 and $13,016.25 which will run until June 29, 2018.
NEWL has a RSI of 28.77 and the stock is trading below its SMA50 by 43.80%.
Is NEWL a solid investment at these levels? Get exclusive data and trends here.
LDK Solar Co., Ltd (ADR) (NYSE:LDK) opened trading at 1.33, up on its previous close of 1.29. The stock is up 15.12% on trading volume of 2.792 million. Average volume is 1.688 million and the stock has a range of 1.32 and 1.49. LDK is down 54.91% on its 52-week high of 3.26 but up 107.04% on its 52-week low of 0.71.
Solar stocks, particularly those for companies based in China have been bracing themselves for the new set of tariffs announced by the European Union (EU). The tariffs are seen as a hostile towards Chinese solar companies that are accused of selling panels in the EU below cost. Whilst some solar stocks for companies based in China reacted poorly to the impending tariffs, LDK seems to have taken it in its stride. The stock is showing a northward climb and is trading 16.39% above its 50-day simple moving average and 21.44% above its 20-day simple moving average. Analysts have set a target price of 1.10 and the stock has a RSI of 64.07.
How Should Investors Trade LDK Now? Get exclusive insights and updates here.
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