Investing Chinese Solar - China Sunergy
The entire Chinese solar stock sector continue to rise for the second straight day amid triple digit oil price caused by political instability in Egypt. Solar stocks such as LDK Solar, Solarfun, JA Solar, Yingli Green Energy, Suntech Power and ReneSola rose from 2% to 3% with Suntech, ReneSola and JA Solar leading the way. However despite the overall interest in the Chinese solar sector, China Sunergy (Nasdaq:CSUN) lags behind with a mere 0.45% gain.
Shares of China Sunergy is trading at $4.43 with low P/E ratio of 5.97. A stock with such a low P/E ratio on a hot sector should have already drawn lots of interest but at the moment it does not seem to be the case. Shares for the past year and half haven't change much and fluctuate between $3.5 to $5 per share. Technical chart points to short term weakness with KD dropping and stock traded just below 50 day moving average.
The financial chart looks more promising with consecutive quarterly revenue and net income increase. The year 2010 should be a bright spot for the company as for the first three quarters the company has already earned $346 million, the figure the company achieved in 2008, the best year so far. Even more promising is that the company has swung to net income of $36 million during 2010 so far as the company has yet to turn in profit since 2006. So looking at the financial this could very well be a hidden jewel waiting to be discovered. Do expect more investor attentions once the company reported the result for the entire year of 2010.
Shares of China Sunergy is trading at $4.43 with low P/E ratio of 5.97. A stock with such a low P/E ratio on a hot sector should have already drawn lots of interest but at the moment it does not seem to be the case. Shares for the past year and half haven't change much and fluctuate between $3.5 to $5 per share. Technical chart points to short term weakness with KD dropping and stock traded just below 50 day moving average.
The financial chart looks more promising with consecutive quarterly revenue and net income increase. The year 2010 should be a bright spot for the company as for the first three quarters the company has already earned $346 million, the figure the company achieved in 2008, the best year so far. Even more promising is that the company has swung to net income of $36 million during 2010 so far as the company has yet to turn in profit since 2006. So looking at the financial this could very well be a hidden jewel waiting to be discovered. Do expect more investor attentions once the company reported the result for the entire year of 2010.
posted by Stock Geek at
9:08 AM
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