Boston, MA 05/30/2013 (wallstreetpr) – The prices of American Depository Receipts of Trina Solar Limited ADR (NYSE:TSL) had declined by 11.05 percent to close at $6.04 per ADR for the end of last trading session. The ADRs of the company had been trading in the range of $5.80 to $6.45 per ADR during the day before closing at $0.75 lower than the previous closing price.
Decline in sales guidance
Trina Solar Limited ADR (NYSE:TSL) had recently cut down its revenue expectations for the forthcoming first quarter due to its cut in the solar module shipments view and due to certain onetime expenditures. While the previous guidance for solar module shipments for this quarter was fixed at 420 MW to 430 MW, the expectations had presently been cut down to 390 MW to 400 MW without quoting any specific reason.
Trina Solar Limited ADR (NYSE:TSL), with its operations based in China is involved in the manufacture of integrated solar power products. The distribution networks of the company extend across the regions of Europe, North America and Asia. The company produces mono crystalline and multi crystalline photo voltaic modules of solar products which are distributed to regions of Europe, North America and Asia through distributors, wholesalers, power plant developers and operators and PV system integrators.
The company presently holds 79.87 million American Depository Receipts outstanding in the market with an institutional ownership of 65 percent of its holdings. The average trading volume for Trina Solar Limited ADR (NYSE:TSL) is at 5.22 million ADRs per day.
