This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Solar Losers: JA Solar Slips on Downgrade

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.

Too bad for JA Solar (JASO - Get Report), in that case, which received a healthy pinch of salt on Tuesday morning as a Broadpoint Amtech research analyst downgraded the solar Chinese player.

Most of JA Solar's Chinese solar peers were finally seeing reduced levels of selling on Tuesday morning. Yingli Green Energy (YGE - Get Report), Trina Solar (TSL - Get Report), Suntech Power (STP), Solarfun Power (SOLF) and Canadian Solar (CSIQ - Get Report) were all marginally positive to start Tuesday, after last week's solar bloodbath in Chinese stocks .

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 fears of a glut in the solar market if Germany moves ahead with feed-in tariff reductions by April -- the original expectation had been July or January 2011.

The extent of the selling in JA Solar seemed to be moderating within an hour of the market's open also, with the share decline of 6% down to a 3% decline by 10:15 am on Tuesday.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
STP $0.53 0.00%
CSIQ $27.40 0.00%
JASO $8.43 0.00%
SOL $1.40 0.00%
TSL $11.53 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs