The stock was recently trading at $15.69, down twenty cents. See note below. From 24/7 Wall Street:
The solar power business has had its ups and downs, with the downs prevailing lately. Even meeting the modest EPS expectation of $0.09 for the current quarter might be challenging for Energy Conversion Devices, Inc. (NASDAQ: ENER). With the exception of solar sector leader First Solar Inc. (NASDAQ:FSLR), most of the solar players have been just able to eke out some profit.
Even the Claymore/MAC Global Solar Energy (NYSE: TAN) solar ETF took a hit of more than 5% yesterday to $9.12 and its 52-week range is $4.65 to $30.79. While this ETF holds foreign stocks that are often unlisted as US-traded stocks, Energy Conversion makes up almost 6% of this ETF’s weighting.
One of the company’s largest customers is having trouble getting credit, which is bad enough. But now, Energy Conversion says it will halt production at its Tijuana plant for four weeks and at its two Michigan plants, one for three weeks and the other for four. The company said the suspension will save $6 million in costs and is “due to uncertain near-term demand.”
Energy Conversion shares fell 20% yesterday, but are up more than 1% in pre-market this morning. Does that mean that investors think that now is a good time to buy the company’s shares?>>>MORE
Earnings are due Monday before the open. In this situation the company's balance sheet is more important than it's income statement. do your own homework. The company has a June fiscal year, here's the 12-31-08 10Q.