JA Solar Holdings Co., Ltd. Stock Price Down 4.5% Following Weak Earnings (JASO)
Shares of JA Solar Holdings Co., Ltd. (NASDAQ:JASO) were down 4.5% during mid-day trading on Wednesday following a dissappointing earnings announcement, American Banking News reports. The stock traded as low as $9.33 and last traded at $9.54, with a volume of 5,557,571 shares trading hands. The stock had previously closed at $9.99.
The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.07. The company had revenue of $390.50 million for the quarter. During the same quarter in the previous year, the company posted ($0.58) earnings per share. The company’s revenue for the quarter was up 52.9% on a year-over-year basis.
JASO has been the subject of a number of recent research reports. Analysts at Northland Securities raised their price target on shares of JA Solar Holdings Co., Ltd. from $19.00 to $20.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Axiom Securities downgraded shares of JA Solar Holdings Co., Ltd. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 29th. Finally, analysts at Credit Suisse initiated coverage on shares of JA Solar Holdings Co., Ltd. in a research note on Monday, June 23rd. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.67.
The stock’s 50-day moving average is $9.44 and its 200-day moving average is $10.01. The company’s market cap is $436.4 million. JA Solar Holdings Co., Ltd. also was the target of unusually large options trading on Tuesday. Traders acquired 7,340 call options on the company. This is an increase of approximately 620% compared to the typical daily volume of 1,019 call options.
JA Solar Holdings Co, Ltd. (NASDAQ:JASO) is engaged in the business of designing, developing, manufacturing and selling solar cell and solar module products.
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