While trading in shares of Rino International (RINO) remains halted during an accounting investigation, some facts are beginning to trickle out confirming that there is indeed fraudulent activity going on at Rino International (RINO).
The independent auditors have said that CEO Zou Dejun told them two of the six contracts in question by Muddy Waters are invalid, but that the others are legitimate and can be verified. The firm says that the financial impact can … Read the rest
RINO International (RINO) beat analyst estimates after the bell today and reaffirmed guidance. The company posted a Q2 non-GAAP EPS of $0.54, 12 cents better than the analyst estimate of $0.42 on revenue of $65.4 million, which was better than the estimate of $50.93 million. That represents quarter over quarter growth of 35% on the EPS side and 61% on the revenue side.
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Here are … Read the rest
Rino Intl (RINO) was a high flyer last year as revenues and earnings soared, but the stock began to sell off in January and continued to slide even as growth remained very impressive. Now we know why. As I’ve mentioned before, technicals always lead fundamentals. That is, the stock will sell off long before the fundamentals turn sour. Conversely, a stock will run well before the growth begins to appear.
Yesterday before the bell, Canaccord Adams initiated coverage on Rino Intl (RINO) with a Buy rating and price target of $34
Hat tip to StreetInsider.com for the following analyst comment:
“RINO is a China-based environmental protection company. Its core businesses are flue gas desulphurization (FGD), wastewater treatment, and anti-oxidation equipment for the Chinese steel industry. It has also won its first contract to provide sludge-treatment technology for municipal wastewater treatment plants. The Chinese government has … Read the rest
RINO International (RINO) reported outstanding results again this morning, smashing analyst estimates. The company reported a non GAAP EPS of .78/share which nearly doubled the analyst estimate of .47 (again, remind me what these analysts are being paid for?) That’s just about a doubling of profits over the year ago quarter. The company smashed analyst estimates on the revenue side as well posting $63 million vs the estimate of $44 million.
CEO Zou Dejun … Read the rest