Kepler Capital Reaffirms Their Hold Rating on REC Silicon ASA (RNWEF)

By Ryan Adsit

In a report issued on September 14, Christian Faitz from Kepler Capital maintained a Hold rating on REC Silicon ASA (RNWEFResearch Report), with a price target of NOK4.20. The company’s shares closed last Monday at $0.46.

According to, Faitz is a 1-star analyst with an average return of -2.8% and a 40.3% success rate. Faitz covers the Basic Materials sector, focusing on stocks such as Wacker Chemie AG, Clariant AG, and LANXESS.

The word on The Street in general, suggests a Hold analyst consensus rating for REC Silicon ASA with a $0.47 average price target.

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Based on REC Silicon ASA’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $24.7 million and GAAP net loss of $10.5 million. In comparison, last year the company earned revenue of $47 million and had a GAAP net loss of $37.8 million.

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REC Silicon ASA is a holding company, which engages in the manufacture and trade of silicon materials. Its products include solar grade poly silicon, electronic grade poly silicon, and silicon gases. The firm operates through the following segments: Solar Materials and Semiconductor Materials. The company was founded on December 3, 1996 and is headquartered in Baerum, Norway.