Sky Solar Holdings, Ltd. – Nasdaq: SKYS
Shares of Sky Solar Holdings (Nasdaq: SKYS) rocketed this morning – at one point trading at double yesterday’s closing price. The Hong Kong based firm announced its financial results for the third quarter of 2016 ended September 30, 2016. Among the Q3 2016 highlights were: total revenue up 93.4% over same period last year; electricity revenue up 58.8% over same period last year; adjusted EBITDA up over 466% over same period last year; and a plethora of solar projects in the pipeline.
Shares of Sky Solar Holdings (Nasdaq: SKYS) ended yesterday at $1.79 but the financial release sent the shares gapping up to open at $2.81 and they reached a high of $3.62 before pulling back below $3. Average volumes for SKYS were posted at just over 37k, but today volumes are already over 6.7 million before lunch.
Sky Solar Holdings is a global independent power producer that develops, owns, and operates solar parks around the world. The company has a broad geographic reach and established solar parks in Asia, South America, Europe, North America, and Africa. Interestingly, Sky Solar Holdings (Nasdaq: SKYS) is technology agnostic and can customize its solar parks based on local environmental and regulatory requirements.
Sky Solar Holdings (Nasdaq: SKYS) sales have been erratic. In 2012 Sky Solar reported sales of $203.8 million however that figure dropped to $47.2 million for 2015. EPS for SKYS shareholders has been no less unpleasant. In 2012 Sky Solar posted an EPS of $0.49, in 2014 that dropped to a loss of $1.72, and in 2015 EPS for SKYS shares was a smaller loss of $0.03.
Two firms follow Sky Solar Holdings. They both rate shares of SKYS as a “Strong Buy” with a price target of $6.50.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 11:36 AM EST||$ 2.80|
|Market Cap (mlns)||$ 6,716,065.00|
|Shares Outstanding (mlns)||47.54|
|Share Float (mlns)||6.03|
|Short Interest Ratio||2.62|