NEW YORK (TheStreet) -- Shares of Trina Solar (TSL) declined 6.09% to $9.10 in morning trading Thursday as peer company Canadian Solar (CSIQ) continues to drop after it announced fourth-quarter guidance on Wednesday that came up short of analysts' expectations.
Canadian Solar, a solar power systems manufacturer, said it now anticipates revenue in the range of $925 million to $975 million for the fourth quarter, less than analysts' estimates of $977.4 million.
The ongoing plunge in oil prices could also be affecting the solar energy stocks, as pricier oil could drive consumers to alternative energy sources. Crude oil prices dropped to less than $80 a barrel for the first time in four years as indicators point to a continuing slowdown in China's economy.
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Separately, TheStreet Ratings team rates TRINA SOLAR LTD as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRINA SOLAR LTD (TSL) 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 impressive record of earnings per share growth, compelling growth in net income and robust revenue growth. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, poor profit margins and a generally disappointing performance in the stock itself."