Yingli Green Energy Holding Co Ltd (ADR) (NYSE:YGE), one of the world’s leading solar panel manufacturers, announced that it was notified by the New York Stock Exchange (“NYSE”) that the Company had regained compliance with NYSE’s continued listing criteria regarding the price of its American depositary shares (“ADS”) (each representing 10 ordinary shares of the Company) since, due to the ADS-to-ordinary share ratio change previously announced by the Company, the average closing price of the ADSs for the consecutive 30 trading days endedDecember 31, 2015 and the closing price of the ADSs on December 31, 2015 both exceeded US$1.00.
“We are pleased to have regained compliance with NYSE’s continued listing requirement,” commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. “We look forward to building shareholder value and the enhanced visibility and liquidity afforded by continued listing of our ADSs on the NYSE.” (Original Source)
Shares of Yingli Green Energy Holding closed yesterday at $4.13, down $0.33 or -7.40%. YGE has a 1-year high of $24.70 and a 1-year low of $3.28. The stock’s 50-day moving average is $5.95 and its 200-day moving average is $7.39.
On the ratings front, Yingli Green Energy has been the subject of a number of recent research reports. In a report issued on November 25, Roth Capital analyst Philip Shen maintained a Sell rating on YGE, with a price target of $3.10, which implies a downside of 24.9% from current levels. Separately, on September 10, Credit Suisse’s Patrick Jobin maintained a Sell rating on the stock and has a price target of $7.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Philip Shen and Patrick Jobin have a total average return of -7.0% and -0.7% respectively. Shen has a success rate of 34.6% and is ranked #3490 out of 3647 analysts, while Jobin has a success rate of 35.5% and is ranked #2448.
Yingli Green Energy Holding Co Ltd along with its subsidiaries is engaged in the design, development, marketing, manufacture, installation and sale of photovoltaic products in China & overseas market.