The value of JA Solar Holdings Co.'s (NASDAQ:JASO) micro cap stock rose during trading on Tuesday, as the company's first quarter shipments were higher than anticipated and investor sentiment shifted following this news.
Bloomberg News reported that the company shipped 366 megawatts of solar cells and panels in the first quarter, beating the forecasts that noted JA Solar would ship between 320 megawatts and 350 megawatts.
Total revenue for the Shanghai-based company was $254.4 million during the fiscal period, again beating expectations, as analysts projected $237.16 million for the first quarter.
Although the company experienced a sharp rise in the value of its stock, a move by the U.S. Department of Commerce to impose a tariff on Chinese companies may affect future growth for JA Solar, The Wall Street Journal reported.
"While we are disappointed by the U.S. Department of Commerce's preliminary decision on anti-dumping duties last month, since last year we have worked to ensure that JA Solar is relatively insulated from the impact of this ruling," said chief executive Peng Fang.
The company's stock rose $0.12 to $1.01 at 12:09 a.m. on June 5, an increase of 13.5 per share.
