Dallas, Texas 07/16/2013 (Financialstrend) – The solar energy company, Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) is primarily involved in the design, manufacturing, marketing and sales of photovoltaic products and has been recently experiencing share price hikes. In the last month of trading, the stock price has risen by 39.44%, while in the last three months it has further posted a gain of 131.03%. In addition to the photovoltaic products, Suntech is also involved in providing procurement, engineering and construction services to build various solar power systems. Such systems are built using the solar products of the company and have a wide range of applications for residential, industrial and commercial purposes.
A significant part of the operations of the company are processed through its wholly owned subsidiary, Wuxi Suntech Power Co. Ltd, which manufactures the photovoltaic modules and cells used in the solar power systems. The subsidiary is also involved in the manufacture of a wide range of building-integrated photovoltaic products. The photovoltaic products of the company are sold to various markets across the globe such as Spain, Greece, United States, France, China, Australia, Middle East and Japan.
Intraday range was from a low price of $1.18 to a high price of $1.41. The share price of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) closed for the day at $1.40, recording an increase of 21.21%. The 52-week range was from $0.30 to a high price of $1.99.The stock opened at the price of $1.21 on Monday with a market capitalization of $253.18 million and 180.84 million outstanding shares. With an institutional ownership of 7%, the trading volume for the day of Suntech Power Holdings was 11.55 million and the average trading volume was 2.64 million shares.