Cleantech Solutions ( CLNT) manufactures and sells forged products and fabricated products to a range of clean technology customers, including forged rolled rings and related products for the wind power industry and other industries and equipment to the solar industry. This stock is trading up 6.6% to $2.26 in recent trading. Today's Range: $2.16-$2.55 52-Week Range: $1.65-$10.10 Volume: 73,000 Three-Month Average Volume: 25,293 >>5 Stocks Under $10 That Probably Won't Double in 2012 From a technical perspective, CLNT is bouncing here off some near-term support at around $2.10 with above average volume. This stock has been stuck in a nasty downtrend for the last four months, with shares plunging from $8.81 to a recent low of $2.03. During that downtrend, shares of CLNT have consistently made lower highs and lower lows, which is bearish technical price action. That said, CLNT has now possibly put in a double bottom at around $2.10 to $2.03. Traders should now look for long-biased trades once CLNT sustains a move or close above its 50-day moving average at $2.67 and its 200-day at $3.11 with high volume. Look for volume on that move that registers near or above 25,293 shares. If we get that action soon, then CLNT could tag $3.50 to $4 in the near future.
Cleantech Solutions (CLNT) soared Monday after the metal components manufacturer reported its fourth-quarter results. Revenue increased 29.4% year over year to $22.8 million from $17.6 million mostly due to sales of the company's dyeing and finishing equipment thanks to the demand for Cleantech's low-emission airflow dyeing machines. Net income increased to $2.1 million, or 60 cents per basic and diluted share, from $0.5 million, or 17 cents per basic and diluted share, in the same period one year earlier. Operating expenses decreased 10.7% year over year to $3.1 million from $3.5 million, while operating income increased to $2.8 million from $0.7 million. Operating margin was 12.2% compared to 4.1% in the same period one year earlier. Adjusted EBIDTA rose year over year to $7.3 million from $4.8 million.