LDK Solar Co, Ltd (ADR) (NYSE:LDK) moved down to record low in 3 weeks, leading drops in Chinese stocks traded in New York, on outlooks the world’s second-biggest manufacturer of wafers would report a fourth consecutive quarter of losses.
The Bloomberg China-US Equity Index of the major traded Chinese corporations in New York moved up 0.3% to 90.16 by 2:52 PM on Friday. Shares of LDK Solar fell 7.9% to $2.11 and marked the lowest level since May 29.
Suntech Power Holdings Co, Ltd (ADR) (NYSE:STP), the world’s largest solar-panel manufacturer, moved up 3.7%, after First Solar, Inc (NASDAQ:FSLR) reported that it would restart construction of a power plant in California.
The Xinyu, China’s Jiangxi province based LDK Solar is due to announce Q1 results on June 26.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. ReneSola Ltd. (ADR) (NYSE:SOL) increased +1.42% to settle at $1.43, JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) moved up +1.82% to end at $1.12 while Trina Solar Limited (ADR) (NYSE:TSL) jumped +1.87% to finish on Friday at $7.10.
LDK Solar Co., Ltd (ADR) (NYSE:LDK) last session volume of 1.20 million shares was surprisingly higher than its average volume of 1.96 million shares. The stock after opening at $2.29 hit high price of $2.33 and then closed at $2.12 by scoring -7.42%.
The liquidity measure in recent quarter results of the company was recorded 0.51 as current ratio and on the other side the debt to equity ratio was 5.49 and long-term debt to equity ratio also remained 1.86. The Company had total cash at hand $244.07 million and a book value per share as $4.57 in the most recent quarter.
The stock price volatility was 10.28% for a week and 12.17% for a month as well as price volatility’s Average True Range for 14 days was 0.22 and its beta remained 2.91.
LDK generated revenue of 2.16 billion in the following twelve months and earned -$655.46 million. The Company showed a negative -28.22% in the net profit margin and as well as in its operating margin which remained -21.33%. Company’s quarterly for the past five year was -54.37%.
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