SmartHeat (NASDAQ: HEAT) was downgraded by equities research analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday.
Shares of SmartHeat opened at 0.9001 on Tuesday. SmartHeat has a 52 week low of $0.79 and a 52 week high of $8.11. The stock’s 50-day moving average is $1.17 and its 200-day moving average is $2.28. The company has a market cap of $34.7 million and a price-to-earnings ratio of 1.82.
SmartHeat last announced its quarterly results on Tuesday, August 9th. The company reported ($0.17) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.01) EPS by $0.16. The company’s quarterly revenue was down 68.9% on a year-over-year basis. On average, analysts predict that SmartHeat will post $-0.11 EPS next quarter.
SmartHeat Inc. (SmartHeat) is a designer, manufacturer and seller of clean technology plate heat exchangers and related systems in China. The Company designs, manufactures, sells and services plate heat exchangers (PHEs), PHE Units, which combine PHEs with various pumps, temperature sensors, valves and automated control systems (PHE Units), and heat meters for use in commercial and residential buildings. Its products and systems are used in energy conversion for heating, ventilation and air conditioning (HVAC) and industrial use in petroleum refining, petrochemicals, metallurgy, food and beverage and chemical processing. Its PHE Units are designed by its own in-house engineers and sold under its own Taiyu brand name, while its PHEs are sold under both its Taiyu brand, as well as the Sondex brand name. The Company is a dealer of Sondex PHEs in China. On May 27, 2009, the Company acquired the production assets of Siping Beifang Heat Exchanger Manufacture Co., Ltd. (Siping Beifang).
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Source:localizedusa