Hanwha Solarone Co Ltd (NASDAQ:HSOL) stock gained by 4.73%


Dallas, Texas 07/17/2013 (Financialstrend) – Hanwha Solarone Co Ltd (NASDAQ:HSOL) is primarily engaged in the integrated supply of Silicon ingots, silicon wafers, PV Cells and PV modules with its operations based in the People’s republic of China. The firm sells its materials through 3rd party distributors and directly to the market through system integrators.

HSOL manufactures a range of products using advanced manufacturing process technologies that have helped the organization to increase its operational efficiency.

HSOL has recently announced that it protected a $100 million term mortgage facility from the Bank of Korea spread over 3 years. This loan has been predictable to mature by 25 June, 2016. The principal amount is to be paid at maturity. The newly secured term loan facility will enable HSOL to cover its working capital needs, convert its short-term leans into long-term and also acquire flexibility in developing opportunity business strategies for the company.

HSOL suffered a net loss of $250.9 million for financial year 2012. The firm has reported gross profit of $4,653 million in the first quarter of 2013 which was released in 31 March, 2013 with an increase in unit shipments to 289.1 megawatts frequently to the large emerging markets of Japan and South Africa. This yet was not enough to compensate, still the firm has a net loss of $36,374 million.

Shares of Hanwha Solarone Co Ltd opened at $3.40 per share on Tuesday and thereafter increased by 4.73% to close at $3.32 for the day. There had been intraday price movements in the stock within the range of $3.17 as low price to $3.59 as high price. Hanwha Solarone has 52 week low at $0.77 and 52 week high at $3.59 per share. The company has 99.28 million shares outstanding in the market which gives it a market cap of $329.62 million and there is institutional ownership in the capital at 4% of the stock. Hanwha Solarone witnessed the trade of 3.62 million shares on Tuesday, while the average level is at 1.00 million shares per day.