Boston, MA 10/22/2013 (wallstreetpr) – Alternative energy company Real Goods Solar, Inc. (NASDAQ:RSOL) registered a 22.3% growth in Monday trading. Stock trading for the energy sector major reportedly went up by over 200% to about 8.84 million shares trading from its three-month daily average trading volume of 3.57 million shares.
In its second quarter, one of USA’s largest and most diversified developers of commercial and residential solar energy technology saw a 17.8% year-on-year jump in U.S. solar panel installations, despite a 3.3% fall in revenue to $20.7 million. The company is expected to report its third-quarter earnings in November.
Considered a big gainer in 2013 so far, Real Goods Solar saw its share price significantly jump by about 130% from its all-time current quarter bottom of $1.70 in August, showing good growth signs. Monday’s performance is a good comeback, considering that the energy company’s return on equity and gross profit margins have declined in 2013, compared to its respective performances of the same quarter in 2012. This could be a major weakness in the company. Real Goods Solar Inc’s earnings per share also declined by 22.2% in the most recent quarter compared likewise.
The alternative energy generation company, which recently applied for the SEC Form 8-K, seeking Entry into a Material Definitive Agreement, Financial Statements and Exhib in September, was on a recent acquisition spree, acquiring the lesser-known Syndicated Solar by paying $2.5 million plus 400,000 shares of its common stock, and more importantly, fellow industry major, Mercury Solar for 7.9 million class A shares in a bid to expand its Northeast American operations. A respected pioneer since 1978 in alternative energy generation, the company is now valued at around $111.85 million.
The energy major’s shares were trading at $3.92 at stock market close on October 21, a 7.96% jump from its previous close at $3.63. After-hours trading was at $3.90.
