J.P. Morgan dropped its rating on Evergreen Solar, Inc. (ESLR)

by Zagros on March 11, 2020

Evergreen Solar, Inc. (ESLR) was hit with a negative analyst note today, when J.P. Morgan dropped its rating on the shares to “underweight” from “neutral.” The downgrade comes on the heels of ESLR’s fourth-quarter earnings report, with the firm on Wednesday evening confessing to a dramatically wider-than-forecast loss of $11.99 per share.

ESLR is off 3.8% in electronic trading, deepening its year-to-date deficit of 46.8%. In fact, the shares are now set to open at a new annual low, dropping below their current 52-week nadir of $1.84 .

Due to the stock’s utterly bleak price action, most analysts already maintain a less-than-rosy opinion of ESLR. Zacks reports zero “buy” ratings, along with nine “holds” and three “strong sells.”

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