3. China Sunergy (CSUN), through its wholly owned subsidiary China Sunergy (Nanjing), designs, develops, manufactures and sells solar cells. It produces both monocrystalline and multi-crystalline silicon solar cells. The company will announce its first quarter results on April 29.
For the first quarter of 2011, the company estimates shipments to range between 98 megawatts to 110 megawatts as compared to 94.5 recorded in the fourth quarter of 2010. Meanwhile, it forecasts gross margin for the quarter to be approximately between 9%-10.5%, with an integrated margin between 14%-15%.
Of the 6 analysts covering the stock, 17% recommends a buy, while 67% suggest a hold. Analysts polled by Bloomberg expect the stock to gain almost 17.7% to $4.3 from current levels over the next 12 months.