Solar Power Inc (OTCMKTS:SOPW) has managed to trade close to $2 per share mark in last few months. However, the stock started to decline in the last week of May, making a low of $1.43 per share on June 4, 2015. It halted its decline when the company reported a $50 million share repurchase plan to be implemented in the second half of this year. The news sparked investor interest and the stock jumped over 37% in a single trading session.
The performance
Solar Power Inc (OTCMKTS:SOPW) market caps stands at nearly 946 billion which is quite big for an OTC traded firm. Still, a glance at company’s financial report reveals that it is not another OTC entity. As per the latest financial report, Solar Power had cash of $96 million. The current assets stood at $429 million and current liabilities came at $307 million.
The revenue in the quarter was $16 million and net loss came at $37 million. These are pretty impressive numbers for a firm trading at the OTC marketplace. Here, it is important to highlight that the company reported a jump of 350% in the revenues. The only problem was net loss as it surged 4400% from the comparable period.
The factors
The net loss increased due to all the wrong reason. The general administrative expenses in the reported quarter came at $39.1 million. Out of that, nearly $32.0 million consisted of stock based compensation to Solar Power’s management. It is the reason why investors were not excited when the company reported the closing of two private placements deals for total of $90 million. The company reported closing of deals in last week of June.
In last trading session, the stock price of declined over 1% to close the trading session at $1.57. The decline came at a share volume of 202,599 compared to average share volume of 124,626.
