Major tier-1 PV manufacturer Yingli Green Energy is at threat of receiving a NYSE de-listing warning as its shares have traded below the US$1.0 threshold for the last 20 days of consecutive trading.
Yingli Green’s shares have traded on the NYSE below the US$1.0 threshold since July 21, 2015 and would trigger a de-listing notice after trading below the threshold for 30 consecutive trading days.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
The company issued a ‘going concern’ warning in its 2014 annual report, in mid-May, while its shares have declined around 75% in the last 12 months.
However, solar stocks in general have been taking a beating on both the NYSE and NASDAQ exchanges in the US in recent months, primarily driven by continued weakness in oil prices that investors translate to weak demand in energy and therefore energy listed companies, despite no actual relation to PV related demand, globally.
Concern surrounding Yingli Green’s share price and potential de-listing trigger point around the time of the release of its second quarter financial results on August 27, have resulted in larger share trading volumes yesterday, driving the share price to US$0.98 briefly and US$0.86 at close of trading.
