Yingli Green Energy (YGE) posted improved revenues and net income margin for three consecutive quarters. Offsetting those improvements is negative operating cash flow for the third quarter of 2010 due to increased receivables, inventory and advances to suppliers.
At just under $10.50 per share it trades at seven times 2011 consensus earnings estimates, a 55% discount to its peer group which correlates to its short interest of 8.27% compared its peer group average of 11.95%. We believe the share price may also be impacted by the quality of financial reporting and disclosure of key performance indicators. In addition, the company achieved overall capacity of one gigawatt during the third quarter of 2010.
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Melissa George Cameron Richardson Chandra West Kasey Chambers Megan Ewing
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