JA Solar Holdings Co., Ltd. was a big mover last session, as the company saw its shares rise more than 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $6.75 to $7.15 in the past one month time frame.
The move came after the company reported that its subsidiary in Vietnam entered into a deal with China Minsheng Bank Corporation, which will provide credit facility to fund the former’s procurement of wafer manufacturing facility.
The company has seen one negative estimate revision in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
JA Solar currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the Solar industry is JinkoSolar Holding Co., Ltd. (JKS - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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