NEW YORK (TheStreet) -- Shares of China Ming Yang Wind Power Group (MY) are higher by 6.39% to $2.83 on Wednesday after the company reported an increase in revenue and earnings for the 2014 first quarter.
The wind turbine manufacturer in China said total revenue for the most recent quarter was $196.9 million compared to the previous year's first quarter revenue of $129.7 million.
Income for the 2014 first quarter was $29.9 million versus $0.7 million reported for the year ago quarter.
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The company posted 25 cents per basic share and 24 cents per diluted share for the latest quarter, compared to 3 cents per basic and diluted share for the 2013 first quarter.
TheStreet Ratings team rates CHINA MING YANG WIND PWR-ADR as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHINA MING YANG WIND PWR-ADR (MY) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income and disappointing return on equity."