RINO Continues To Tumble (RINO)

The pain for shareholders of RINO International Corporation RINO is continuing today. Shares are down $1.46, or 10.53%, to $12.40. Year-to-date shares of RINO are down an astounding 56.27 percent!! RINO is a Chinese wastewater-treatment and desulphurization company. Fears of tighter Chinese monetary policy and a slowdown in the overall Chinese economy have sent this stock from a high of $35.15 to its current level of $12.40. Share are still up 270 percent from their 52-week low of $4.54, however. On Monday the company reported adjusted earnings of 30 cents per share. Analysts were looking for earnings of 44 cents per share. Revnues rose to $47.9 million, matching analysts' expectations. Profit margins slipped dramatically from 44.8 percent to 34.9 percent due to higher steel costs. A selloff of this magnitude may be unjustified given that the company trades for just 5 times 2011 earnings estimates.