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Big Mover; China Sunergy Co. Ltd. (CSUN)

By Warren Paige

China Sunergy Co. Ltd. (NASDAQ: CSUN), a specialized solar cell and module manufacturer and solar developer in China, saw a sharp rise in its shares in trading on Friday.

CSUN shares rose 19.57% higher to finish the day at $2.20 on above average volume of 359,955. The stock touched an intra-day high of $2.30 on Friday. It has now gained more than 46% in the last three trading sessions.

China Sunergy last month reported its financial results for the first quarter ended March 31, 2012. CSUN posted total revenue of $68.5 million for the first quarter, representing a decline of 38.2% over the previous quarter.

CSUN’s shipments for the quarter were 79.9 MW, representing a decline of 31.6% over the previous quarter. Average selling price for the quarter was $0.86 per watt.

CSUN last month reported a net loss of $9.6 million for the first quarter.

 

June 23rd, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.