Solar Companies Get a Huge Boost from China

The Chinese government is introducing lavish subsidies for new solar installations, as it works to find ways to support local manufacturers dealing with both the U.S. ITC’s anti-dumping investigation and a harsh demand/pricing environment. The subsidies could help the government meet its aggressive 2015 renewable energy installation goal of 15 gigawatts.

Big solar companies such as LDK (NYSE:LDK), Yingli (NYSE:YGE) and Suntech (NYSE:STP) all reported enormous losses for third-quarter 2011. Plus the industry also suspects that India and Europe might begin their own probes similar to the U.S. action against China-based firms.

Here’s how solar stocks are reacting to the news:

Yingli Green Energy Holding Co. Ltd. (NYSE:YGE): YGE shares recently traded at $4.03, down $0.01, or 0.25%. They have traded in a 52-week range of $2.75 to $13.59. Volume today was 620,482 shares versus a 3-month average volume of 3,267,670 shares. The company’s trailing P/E is 3.75, while trailing earnings are $1.08 per share.

LDK Solar Co., Ltd. (NYSE:LDK): LDK shares recently traded at $4.25, up $0.01, or 0.24%. They have traded in a 52-week range of $2.55 to $14.97. Volume today was 895,439 shares versus a 3-month average volume of 2,196,000 shares. The company’s trailing P/E is 6.33, while trailing earnings are $0.67 per share.

Suntech Power Holdings Co. Ltd. (NYSE:STP): STP shares recently traded at $2.42, down $0.01, or 0.41%. They have traded in a 52-week range of $1.70 to $10.83. Volume today was 724,965 shares versus a 3-month average volume of 3,566,300 shares. The company’s trailing P/E is 31.43, while trailing earnings are $0.08 per share.

SunPower Corporation (NASDAQ:SPWRA): SPWRA shares recently traded at $N/A,. They have traded in a 52-week range of $ to $. Volume today was shares versus a 3-month average volume of shares. The company’s trailing P/E is , while trailing earnings are $ per share.

First Solar, Inc. (NASDAQ:FSLR): FSLR shares recently traded at $35.77, up $1.07, or 3.08%. They have traded in a 52-week range of $29.87 to $175.45. Volume today was 1,626,561 shares versus a 3-month average volume of 4,454,190 shares. The company’s trailing P/E is 5.87, while trailing earnings are $6.09 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com