Dallas, Texas 03/31/2014 (FINANCIALSTRENDS) – soars after senatorial assurance on tax credit renewals Hanwha Solarone Co Ltd (NASDAQ:HSOL), the Chinese solar company it appears to have moved its way out of trouble on the stock market, in recent times. At the end of the fourth week of March, Hanwha Solarone appears to have made a turnaround. Stocks had risen by 1 %, closing the trading session at $2.86 per share.
On a hectic trading day, on March 28 nearly all solar energy stocks were seen to perform better than typical trading ranges.
Spurt of movement leads to analyst coverage
Hanwha Solarone Co Ltd (NASDAQ:HSOL) has received trading coverage. Why was Hanwha Solarone considered for coverage? Leading analysts, given the balance of structure of this stock on the market trading floor find it has reached traction. The immediate recommendation for investors, with respect to Hanwha Solarone Co Ltd (NASDAQ:HSOL) stock trading is Sale, because the gross profit margins remain low.
Meanwhile, the debt to equity ratio held by Hanwha Solarone Co Ltd (NASDAQ:HSOL) is very high at 2.84. This ratio is much higher than the average ratio others in this industry hold. Other causes which, analysts indicate, as reason for the sale of this stock, is the current return on equity. Where competitors have reported an increase, in this parameter; disappointingly HSOL has a much lesser index on the same.
Solar stocks boomed following Senator Whitehouse’s comments that the incentive program offered by the US government for solar technology and production companies would likely be extended, allowing solar energy companies to enjoy production tax credit as well as investment tax rebates. Senator Whitehouse told industry representatives that, “there’s very strong bipartisan support for extension of incentives.”
Wuxi deal leads to HSOL Pole-vault Additionally, Hanwha Solarone Co Ltd (NASDAQ:HSOL), with new solar partners in tow, in Wuxi, is hoping to achieve higher traction in an already crowded Chinese solar products manufacturing industry!