Is SPI Energy a Good Renewable Energy Stock to Buy? By StockNews
SPI Energy (SPI), has expanded its production capabilities by implementing various operational improvements and has made substantial investments to develop a new range of efficient vehicles. Is SPI worth the investment? SPI has low profits margins and high production costs. Read on to learn more. SPI Energy Co. Ltd. (SPI), is located in Hong Kong. It provides photovoltaic services for residential customers, investors, businesses, as well government clients. Through its subsidiaries, the company develops and sells electric cars as well as EV charging systems.
Shares of SPI soared 36.3% in price after the company’s Phoenix Motorcars division announced the production of its third-generation drivetrain products on June 9, 2021. The stock gained 353.3% in the past year due to bullish sentiments that closed the previous trading session at $5.44.
The stock trades at an overvalued valuation. SPI’s trailing-12-months EBITDA/EV/EBITDA is 43.77x. That is 13.5.4% lower than the 18.60x industry standard. The 1,760.31 trailing-12 month EV/EBIT multiple, which is 6.826.2% more than the industry average of 25.42, is 2,277.31.
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