Solar Power Inc (OTCMKTS:SOPW) Takes A Blow

[[tagnumber 0]][[tagnumber 1]]After a few months of staying around the $2 per share mark we saw the stock of Solar Power Inc (OTCMKTS:SOPW) steeply slide down the charts in the end of May, reaching a low of $1.43 per pop on June 4.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Then we saw some incredible performance from [[tagnumber 6]]SOPW.[[tagnumber 7]] The company announced that a $50 million share repurchase program that is to be carried out in the second half of this year has been approved by the Board of Directors which sparked investor interest and we saw [[tagnumber 6]]SOPW[[tagnumber 7]] gain 37.76% in a single session.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That is quite a lot when you consider that the company’s market cap of nearly $1 billion is quite big for an OTC company. Still, a quick look at [[tagnumber 6]]SOPW’s[[tagnumber 7]] ledgers quickly shows that it is not your regular OTC entity.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 19]] [[tagnumber 20]]cash: $96 million[[tagnumber 21]] [[tagnumber 20]]current assets: $429 million[[tagnumber 21]] [[tagnumber 20]]current liabilities: $307 million[[tagnumber 21]] [[tagnumber 20]]quarterly sales: $16 million[[tagnumber 21]] [[tagnumber 20]]quarterly net loss: $37 million[[tagnumber 21]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those are definitely some pretty impressive numbers for a company trading at the over–the–counter markets. Furthermore, we see a serious increase of 350% in the revenues. Unfortunately, the net loss has increased by a whopping 4400% compared to the same period last year and it was for all the wrong reasons.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Around $32.9 million out of the $39.1 million in general administrative expenses consist of stock–based awards to the company’s management, something that never looks good, especially when they push your company to record such a massive net loss.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And it’s probably why investors weren’t really that impressed when the company announced the closing of two major private placements for up to $90 million combined. The press releases came in the final days of last month and we can’t say that they made any impact on the company stock.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile we saw [[tagnumber 6]]SOPW[[tagnumber 7]] drop 12.64% in the first session after the 4[[tagnumber 48]]th[[tagnumber 49]] of July and the ticker finished yesterday’s session at $1.59. The volume was well below the 30 day average and the 68 thousand shares that changed their owners generated only $114 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see [[tagnumber 6]]SOPW[[tagnumber 7]] with an optimistic start of today’s session, but considering the inconsistent movements of the stock you should be sure to do your due diligence and weigh out all the risks before putting any money on the line.[[tagnumber 2]]