Wednesday, December 19, 2007

China Sunergy Co., Ltd. (ADR) (Public, NASDAQ:CSUN)

Solar stocks have been on a huge tear recently and one China Sunergy has not kept up with some of the others. The large short position could become trouble for the skeptics in the near term. I own a little and plan on adding to it. A stop below the 50 dma just under 10.00 seems to make sense.

China Sunergy Co., Ltd. (China Sunergy) is a manufacturer of solar cell products in the People’s Republic of China. The Company conducts substantially all of its operations through CEEG (Nanjing) PV-Tech Co. Ltd., operating subsidiary. China Sunergy manufactures its solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. As of May 17, 2007, the Company produced both mono-crystalline and multi-crystalline silicon solar cells. As of December 2006, the Company had six solar cell manufacturing lines with an aggregate production capacity of 192 megawatts per year, assuming the use of 156-millimeter, mono-crystalline silicon wafers. The Company sells its solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble the solar cells into solar modules and solar power systems for use in various markets.