This CSUN might see a pop by Friday: China Sunergy Co., Ltd. (CSUN) Chairman and Chief Executive Officer to Ring the NASDAQ Stock Market Closing Bell China Sunergy Co., Ltd. (CSUN) Chairman and Chief Executive Officer to Ring the NASDAQ Stock Market Closing Bell ADVISORY, May 17, 2007 (PrimeNewswire via COMTEX) -- What: Lu, Tingxiu, Chairman and CEO of China Sunergy Co., Ltd. (CSUN), will preside over the closing bell. Where: NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio When: Friday, May 18, 2007 at 4 p.m. ET
CSUN $14.11, I can only watch it, won't be able to trade it on my own account. I did buy 200 shares in my friend's account at $13, will have to hold it for three days before I could sell, very bad Etrade's own policy: This order to purchase securities, if accepted, will be paid for by the proceeds of the sale of securities in your account which settle on or before the payment for the purchase is due. If you enter an order to sell these securities before they are fully paid for, your account may be subject to a 90-day restriction under federal securities regulations
China Sunergy, TechTarget Make Swift Gains Post-IPO Last Update: 5/17/2007 2:31:16 PM By Yvonne Ball Of DOW JONES NEWSWIRES A Chinese solar cell manufacturer and a technology stock were the star performers of the initial public offering market Thursday, racking up double-digit gains on their first day of trading on the Nasdaq Stock Market. The strong debuts overshadowed another debutante, Netherlands-based health care company Eurand NV (EURX), which slipped below its IPO price. China Sunergy Co. Ltd. (CSUN) opened at $12 a share, a 9% premium to its $11 IPO price. The stock has since climbed higher, recently trading at $14.65 a share, up $3.65, or 33.2%. Some 8.5 million American depositary shares were sold into the offering at $11 a share, above the expected range of $8 to $10 per ADS, which was set by underwriter Merrill Lynch & Co. (MER). China Sunergy joins other solar cell debutantes in the U.S., JA Solar Holdings Co. Ltd. (JASO), which went public in February, and Trina Solar Ltd. (TSL) and Solarfun Power Holdings Co. Ltd. (SOLF), which made their debut last year. Of the three, JA Solar and Trina continue to trade well above their IPO prices, while Solarfun was trading at a slight discount to its offering price. They will soon be joined by another Chinese company, LDK Solar Co., which could raise as much as $469 million when it debuts on the New York Stock Exchange in coming weeks. "They are doing well, it is alternative energy, and their (financial) numbers are quite explosive," said John Fitzgibbon, an IPO analyst and founder of IPOScoop.com, adding there were probably more solar cell companies contemplating a public offering. "The best of the best go public and if they work, the rest come," he said. China Sunergy manufactures solar cells from silicon wafers, using crystalline silicon solar cell technology to convert sunlight directly into electricity. The company has grown rapidly since its formation three years ago. At the end of last year, China Sunergy had six solar cell manufacturing lines, with an aggregate production capacity of 192 megawatts a year. Its rapid growth is reflected in its balance sheet. The company sold 4.4 MW of solar cells in 2005, rising to 46.4 MW in 2006. As a result, its net revenues soared from $13.7 million to $149.5 million over the same period. The surge in revenue enabled China Sunergy to move from a $300,000 loss in 2005 to an $11.8 million profit last year. Meanwhile, TechTarget Inc. (TTGT), one of the week's most anticipated public offerings, also performed strongly, soaring 12% on its debut. The stock opened at $14.50 a share, well above its IPO price of $13, set by underwriters Morgan Stanley (MS) and Lehman Brothers Holdings Inc. (LEH). The stock was recently trading at $15.05 a share, up $2.05, or 15.8%. Some 7.7 million shares were sold into the oversubscribed offer, which priced at the midpoint of the expected range of $12 to $14. Analysts reported strong demand for shares in TechTarget, which continues the resurgence of IPOs from the technology sector. It marks the 13th technology stock to go public so far this year, representing 18% of all IPOs priced in the U.S., according to Thomson Financial. TechTarget provides online content aimed at bringing together buyers and sellers of corporate information technology products. Scott Sweet, managing director of IPOBoutique.com, an IPO research service, says TechTarget's business represents a significant departure from the past. "IT managers had to manually assemble and disseminate volumes of product offerings through multiple Web sites or hearsay," he said. "TechTarget has now provided a proven site that fits the past large gap between the buyers and the sellers." TechTarget derives almost all of its revenue by selling advertising to its 1,000-plus active advertisers. The company generated revenue of $18.3 million in the first quarter, resulting in a modest profit of $317,000. Last year, the company booked revenue of $79 million and a $7.2 million profit. In contrast with China Sunergy and TechTarget, Eurand failed to entice investors, opening on the Nasdaq at a slight discount to its IPO price. Eurand opened at $15.90 a share, below its IPO price of $16, set by underwriters Deutsche Bank AG (DB) and Lehman Brothers Holdings. The stock was recently trading at $15.19 a share, down 81 cents, or 5.1%. Some 7 million shares were sold into the offer, which priced below the expected range of $17 to 19 a share. Two Phase III clinical trials have been completed for Eurand's lead product candidate, EUR-1008, for the treatment of exocrine pancreatic insufficiency. In 2006, the company reported a $6.6 million net loss and at the end of December, Eurand had an accumulated deficit of about $61 million. -By Yvonne Ball, Dow Jones Newswires; 201-938-5289; yvonne.ball@dowjones.com (END) Dow Jones Newswires
CSUN $16s, still in the power zone, no signs of slowing down with 8 minutes to the market close. I feel this CSUN could pop a couple more dollars tomorrow, could be a very nice gapper:
PT, Based on your research what valuation do you give CSUN for a possible top. I was going to buy at about $14.5 but I thought it had run it's course.