By midafternoon, shares had tanked 28.7% to $1.29.
In its third quarter, the metals processor earned 3 cents a share and reported revenue 30.9% lower year over year to $96.4 million.
TheStreet Ratings team rates SUTOR TECHNOLOGY GROUP LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUTOR TECHNOLOGY GROUP LTD (SUTR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth and attractive valuation levels. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."
- You can view the full analysis from the report here: SUTR Ratings Report