Trina Solar Limited (NYSE:TSL) dropped 5% on Thursday . The stock traded as low as $8.28 and last traded at $8.31, with a volume of 2,702,696 shares changing hands. The stock had previously closed at $8.75.

TSL has been the subject of several analyst reports. Axiom Securities restated a “sell” rating on shares of Trina Solar Limited in a report on Saturday, April 23rd. Credit Suisse Group AG dropped their target price on Trina Solar Limited from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Cowen and Company cut Trina Solar Limited from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $11.00 to $7.50 in a report on Friday, July 15th. Roth Capital cut Trina Solar Limited from a “buy” rating to a “neutral” rating and dropped their target price for the company from $12.00 to $8.00 in a report on Friday, June 3rd. Finally, Zacks Investment Research cut Trina Solar Limited from a “hold” rating to a “strong sell” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.66.

The firm has a market capitalization of $703.63 million and a price-to-earnings ratio of 7.87. The company’s 50-day moving average price is $7.91 and its 200-day moving average price is $9.06.

Trina Solar Limited (NYSE:TSL) last issued its earnings results on Thursday, May 26th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. During the same period last year, the firm posted $0.16 earnings per share. The firm earned $816.90 million during the quarter, compared to the consensus estimate of $786.08 million. The company’s revenue for the quarter was up 46.4% compared to the same quarter last year. On average, equities research analysts forecast that Trina Solar Limited will post $1.17 earnings per share for the current fiscal year.

Other large investors have recently modified their holdings of the company. Marshall Wace LLP boosted its stake in shares of Trina Solar Limited by 44.7% in the fourth quarter. Marshall Wace LLP now owns 128,072 shares of the company’s stock valued at $1,412,000 after buying an additional 39,554 shares during the period. First Trust Advisors LP boosted its stake in shares of Trina Solar Limited by 2.2% in the fourth quarter. First Trust Advisors LP now owns 231,224 shares of the company’s stock valued at $2,548,000 after buying an additional 5,035 shares during the period. Guinness Asset Management Ltd boosted its stake in shares of Trina Solar Limited by 10.1% in the fourth quarter. Guinness Asset Management Ltd now owns 473,814 shares of the company’s stock valued at $5,221,000 after buying an additional 43,274 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Trina Solar Limited by 148.3% in the fourth quarter. Morgan Stanley now owns 1,148,345 shares of the company’s stock valued at $12,656,000 after buying an additional 685,913 shares during the period.

Trina Solar Limited is an integrated solar power products manufacturer and solar system developer based in China with a global distribution network. The Company has integrated the manufacturing of ingots, wafers and solar cells for use in its photovoltaic (PV) module production. Its PV modules provide electric power for residential, commercial, industrial and other applications.

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