LDK Solar (NYSE: LDK) was downgraded by investment analysts at Auriga from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday. They currently have a $2.00 target price on the stock, down from their previous target price of $3.00.
Shares of LDK Solar traded down 4.53% during mid-day trading on Tuesday, hitting $2.95. LDK Solar has a 52 week low of $2.54 and a 52 week high of $10.79. The company has a market cap of $386.5 million and a P/E ratio of 4.13.
The company last announced its quarterly results on Monday, April 30th. It reported ($4.63) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.64) EPS by $3.99. The company’s quarterly revenue was down 54.4% on a year-over-year basis. On average, analysts predict that LDK Solar will post $-0.81 earnings per share next quarter.
Separately, analysts at Needham & Company reiterated a “hold” rating on shares of LDK Solar in a research note to investors on Wednesday, April 11st.
LDK Solar Co, Ltd. is a producer of solar wafers in terms of capacity, and a solar module manufacturer.