Trina Solar Limited (TSL) Trading Up 25.7%
Shares of Trina Solar Limited (NYSE:TSL) were up 25.7% during trading on Monday . The stock traded as high as $10.75 and last traded at $10.37, with a volume of 7,736,385 shares trading hands. The stock had previously closed at $8.25.
Several analysts recently commented on TSL shares. Credit Suisse Group AG reduced their price objective on shares of Trina Solar Limited from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Axiom Securities restated a “sell” rating on shares of Trina Solar Limited in a report on Saturday, April 23rd. Zacks Investment Research downgraded shares of Trina Solar Limited from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 27th. Cowen and Company downgraded shares of 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. Finally, Roth Capital restated a “neutral” rating and set a $10.00 target price (up from $8.00) on shares of Trina Solar Limited in a report on Tuesday. Three 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 has a consensus rating of “Hold” and an average price target of $9.82.
The company has a market capitalization of $874.03 million and a PE ratio of 9.78. The stock’s 50 day moving average price is $8.11 and its 200-day moving average price is $9.05.
Trina Solar Limited (NYSE:TSL) last posted its quarterly earnings data on Thursday, May 26th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. The company earned $816.90 million during the quarter, compared to analyst estimates of $786.08 million. During the same period in the previous year, the company earned $0.16 EPS. The business’s revenue for the quarter was up 46.4% compared to the same quarter last year. Analysts anticipate that Trina Solar Limited will post $1.17 EPS for the current year.
A number of large investors recently bought and sold shares of the company. Marshall Wace LLP increased its stake in 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 last quarter. First Trust Advisors LP increased its stake in 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 last quarter. Guinness Asset Management Ltd increased its stake in 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 last quarter. Finally, Morgan Stanley increased its stake in 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 last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.