ZHABEI, China ( TheStreet) -- The last thing a Chinese solar company needed was a downgrade on Tuesday, adding salt to the wound opened last week by Germany's plans to cut solar feed-in tariffs.
Most of JA Solar's Chinese solar peers were finally seeing reduced levels of selling on Tuesday morning.
Yingli Green Energy
(YGE - Get Report),
(TSL - Get Report),
(CSIQ - Get Report) were all marginally positive to start Tuesday, after
ReneSola (SOL - Get Report) was up more than 3% to start the week, with a gain of 17 cents on Tuesday morning to $5.27. ReneSola shares had dropped last week more than $1, from a Monday close of $6.13 to a Friday close of $5.10.Significant selling action in JA Solar shares early Tuesday morning was the result of the downgrade. Shares of JA Solar were down more than 3% and reached above the 4 million share-traded mark within an hour of the market open on Tuesday. The $5.43 price for JA Solar on Tuesday morning was the lowest price level for shares in more than a month. JA Solar experienced a double-digit percentage decline last Thursday and Friday, on the German reports and