RINO International Falls 20%, Hits 52-Week Low (RINO)

Shares of RINO International Corporation RINO are trading down 20% at $8.80 per share during the Monday morning trading session. The day's trading range for shares of RINO International Corporation has been between a 52-week low $8.78 and $9.91 per share. Analysts covering the company's stock give it a consensus price target of $29.00 per share. Volume of 2.5 million shares is already nearly 3 times the daily average volume of 868,000 shares. RINO International Corporation (RINO) announced on Monday morning that it missed consensus Wall Street expectations. RINO International Corporation announced 3rd quarter earnings per share of 31 cents, on revenue that fell 16.7% to $52.72 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 42 cents per share, on revenue of $55.46 million. Director and chief executive officer Dejun Zou said, “We believe that despite the temporary market downturn, the long-term industry environment remains very encouraging with increasing government pressure coming to bear on polluting industries and demand getting even stronger. We are racing to meet that demand by expanding capacity and investing in advanced technology to help us solidify our leading position. At the same time we are continuing to look for opportunities to expand outside our traditional de-sox and wastewater treatment segments to capture market share in new high growth areas.” Read more from Benzinga's Company news.