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REC Silicon ASA ( (RNWEF) ) has shared an update.
REC Silicon ASA reported a challenging fourth quarter for 2024, with a decline in revenues and an EBITDA loss from continuing operations. The company is transitioning to focus on silicon gas production after discontinuing polysilicon production at its Moses Lake facility. While the decision to cease production was difficult, REC Silicon aims to focus on stabilizing operations, cutting costs, and expanding market share in silicon gases, where it holds a strong position. The company is looking to secure long-term financing and capitalize on growth opportunities in various markets, including semiconductors and solar PV.
More about REC Silicon ASA
REC Silicon is a global leader in producing high-purity silicon materials, specializing in silane-based products for the solar and electronics industries. Headquartered in Lysaker, Norway, and listed on the Oslo Stock Exchange, the company operates with over 40 years of experience and maintains a strong market presence with manufacturing facilities in the U.S. and sales support offices in Asia and the United States.
YTD Price Performance: -19.38%
Average Trading Volume: 43,547
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $56.34M
See more insights into RNWEF stock on TipRanks’ Stock Analysis page.
