Boston, MA 06/11/2013 (wallstreetpr) – The prices of American Depository Shares of LDK Solar Company Ltd. ADR (NYSE:LDK) had surged by 13.89 percent to close at $1.64 per ADR for the last trading session on Monday. The ADRs of the company had been trading in the range of $1.45 to $1.65 during the day. The American Depository Receipts of LDK Solar Company Ltd. ADR (NYSE:LDK) had recorded 52 week low price level of $0.71 per ADR and 52 week high price level of $2.36 per ADR.
LDK Solar Company Ltd. ADR (NYSE:LDK) is primarily engaged in providing photovoltaic products and operates as a vertically integrated company in the solar energies industry. The company had recently announced the results of Extraordinary General Meeting in which the issuance of 25 million ordinary shares of LDK Solar Company Ltd. ADR (NYSE:LDK) to the investment company, Fulai Investments Limited had been approved by the shareholders.
The shares to be issued at $1.03 per unit would result in aggregate purchase proceedings of $25.75 million to LDK Solar Company Ltd. ADR (NYSE:LDK). Further, the company would be announcing the quarterly results of financial performance in the forthcoming week. These quarterly results are surrounded with high expectations of investors as to whether LDK Solar Company Ltd. ADR (NYSE:LDK) would make a last chance to regain from its present cash crunch owing to large losses.
However, LDK Solar Company Ltd. ADR (NYSE:LDK) is not the only player in the industry to undergo such tough times. The analysts have a consensus estimate of $0.96 net loss per share of LDK Solar Company Ltd. ADR (NYSE:LDK) over the previous year’s net loss of $1.46 per share for the same quarter.
The shares of LDK Solar Company Ltd. ADR (NYSE:LDK) had witnessed a heavy trading volume at 4.07 million trades on Monday, while the average trading volume of the company is at 2.63 million shares per day.
