LDK Solar (LDK) Given New $5.60 Price Target by HSBC (HBC) Analysts.
Thursday, July 07, 2021 8:00 AM

Equities research analysts at HSBC (NYSE: HBC) lowered their price target on shares of LDK Solar (NYSE: LDK) from $9.80 to $5.60 in a research note to investors on Thursday. The analysts currently have an "underweight" rating on the stock.

Separately, analysts at Piper Jaffray (NYSE: PJC) cut their price target on shares of LDK Solar to $25.00 in a research note to investors on Wednesday, June 8th. Also, analysts at Brean Murray cut their price target on shares of LDK Solar from $20.00 to $12.00 in a research note to investors on Wednesday, June 8th. They now have a "buy" rating on the stock.

Shares of LDK Solar opened at 7.06 on Friday. LDK Solar has a 52 week low of $5.50 and a 52 week high of $15.10. The stock's 50-day moving average is $7.09 and its 200-day moving average is $10.62. The company has a market cap of $1.007 billion and a price-to-earnings ratio of 2.29.

LDK Solar last announced its quarterly results on Tuesday, June 7th. The company reported $0.95 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.86 EPS by $0.09. The company’s quarterly revenue was down 91.7% on a year-over-year basis. On average, analysts predict that LDK Solar will post $0.40 EPS next quarter.

LDK Solar Co., Ltd. is a producer of solar wafers in terms of capacity, and a solar module manufacturer. It sells multicrystalline and monocrystalline wafers to manufacturers of solar cells and modules. Solar wafers are the principal raw material used to produce solar cells, which are devices capable of converting sunlight into electricity. It also sells solar materials, which include ingots, and other chemicals used to produce polysilicon and solar wafers. In addition, it provides wafer processing services. As of December 31, 2009, it had an annualized wafer production capacity of approximately 1.8 gigawatts. Its production operations are primarily located in Xinyu city of Jiangxi province, China. As of December 31, 2009, it had an installed annualized polysilicon production capacity of 6,000 metric tons. In July 2009, it announced the acquisition of a 70% controlling interest in Solar Green Technology S.p.A. (SGT), a system integrator in the Italian market.

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