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LDK Solar Shares Popped: What You Need to Know

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August 10, 2011 | Comments (0)

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: LDK Solar (NYSE: LDK  ) popped 11% in intraday trading today after announcing it had signed an agreement for a major new project.

So what: LDK Solar and Datang International Power Generation signed an engineering, procurement, and construction agreement in which LDK Solar will develop a 20-megawatt solar project in China. Construction on the first 10 megawatts is scheduled to begin this month.

Now what: Solar stocks have been particularly hard hit in the recent market sell-off. That's at least somewhat due to disappointing financial news from First Solar (Nasdaq: FSLR  ) , JA Solar (Nasdaq: JASO  ) , and Trina Solar (NYSE: TSL  ) . Yesterday, my Foolish colleague Travis Hoium concluded that solar stocks look oversold and recommended vertically integrated players capable of developing large projects. Even after today's pop, LDK stock has a forward P/E ratio of only 3.6 times.

Interested in more info on LDK? Add it to your watchlist by clicking here.

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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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Related Tickers

5/24/2013 4:04 PM
LDK $1.66 Down -0.01 -0.60%
LDK Solar Co., Ltd… CAPS Rating: *
TSL $6.17 Up +0.03 +0.49%
Trina Solar Limite… CAPS Rating: **
JASO $8.03 Up +0.09 +1.13%
JA Solar Holdings… CAPS Rating: **
FSLR $51.55 Down -0.03 -0.05%
First Solar CAPS Rating: **

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