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Cleantech Solutions International Inc. (NASDAQ:CLNT) shares increased by 159.36%

Boston, MA 05/23/2013 (wallstreetpr) – The share prices of Cleantech Solutions International Inc. (NASDAQ:CLNT) had increased by whopping 159.36 percent to close at $9.70 per share for the last trading session. This was an increase $5.96 per share over the previous day’s closing price. Further, the manufacturer and seller of forged and fabricated products, Cleantech Solutions International Inc. (NASDAQ:CLNT) had also become the top volume gainers in NASDAQ with a trading volume of 13.59 million shares for the day. While the stock opened at an intraday low price of $4.48 per share, the prices continually increased to readjust the 52 week high price of Cleantech Solutions International Inc. (NASDAQ:CLNT) to $9.75 per share.

Results of First Quarter, 2013

Cleantech Solutions International Inc. (NASDAQ:CLNT) had recently reported the financial results for first quarter, 2013 in which the company registered an increase in revenue by 47.6 percent to $13.9 million over the same quarter of the previous year. The increase in revenue to the company was partly attributed to the increased demand for forged rolled rings especially from the wind power industry. The order flow had been gradually reducing over the previous quarters, which had now surged up.

Cleantech Solutions International Inc. (NASDAQ:CLNT) registered a net income of $1.6 million which gets translated into $0.56 per basic and diluted share. This was an increase over the net income of previous year which was reported as $0.12 per basic and diluted share. The average trading volume of the company is 201,133 shares per day and Cleantech Solutions International Inc. (NASDAQ:CLNT) had floated 2.67 million shares to the equity holders.

Published by Pushpa Naresh

Pushpa Naresh has done MBA (Finance) and an avid market tracker. She is a technical analyst who closely tracks US markets along with other global markets like India. She has been expressing her views about markets and also advises various clients.

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