Trina Solar Limited Sees Large Increase in Short Interest (TSL)
Shares of Trina Solar Limited (NYSE:TSL) were the target of a significant growth in short interest during the month of May. As of May 30th, there was short interest totalling 13,960,333 shares, a growth of 18.6% from the May 15th total of 11,769,446 shares, AnalystRatingsNetwork reports. Based on an average daily volume of 6,050,958 shares, the days-to-cover ratio is presently 2.3 days. Currently, 19.4% of the shares of the company are short sold.
A number of research firms have recently commented on TSL. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Trina Solar Limited in a research note on Wednesday, June 4th. They now have a $15.00 price target on the stock, down previously from $17.00. Separately, analysts at Zacks downgraded shares of Trina Solar Limited from an “outperform” rating to a “neutral” rating in a research note on Friday, May 23rd. They now have a $14.20 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Trina Solar Limited in a research note on Thursday, May 22nd. They now have a $23.90 price target on the stock, up previously from $23.70. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $17.09.
Trina Solar Limited (NYSE:TSL) opened at 13.07 on Monday. Trina Solar Limited has a 1-year low of $5.00 and a 1-year high of $18.77. The stock’s 50-day moving average is $11.90 and its 200-day moving average is $13.66. The company has a market cap of $1.047 billion and a P/E ratio of 49.53.
Trina Solar Limited (NYSE:TSL) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.34. The company had revenue of $444.80 million for the quarter, compared to the consensus estimate of $452.55 million. During the same quarter in the prior year, the company posted ($0.90) earnings per share. The company’s quarterly revenue was up 70.9% on a year-over-year basis. On average, analysts predict that Trina Solar Limited will post $1.13 earnings per share for the current fiscal year.
Trina Solar Limited (NYSE:TSL) is an integrated solar-power products manufacturer based in China with a global distribution network covering Europe, North America and Asia.
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