How low can you go on solar stocks? If you look towards the bargain end of the market, it’s possible to find picks well below a dollar. Solar Integrated Roofing Corp. (OTC: SIRC) is one of them. This company provides residential and commercial solar roofing installations throughout California. Its business is growing, and unlike many picks at the bottom end, Solar Integrated Roofing turns a profit.
There’s been good news for this company in recent months. In October, it reported its best revenue result ever, with $1.7 million for the month. More important than the actual figure was the growth rate. It was a 40% increase over September. CEO Dave Massey expects this kind of growth to continue, thanks to new acquisitions and a profitable business plan.
One of the biggest advantages of this company is that it is highly integrated with in-house marketing, distribution, and installation divisions. In the 2019 fiscal year, Solar Integrated Roofing generated a gross profit margin of 14.72%. The fact that it is already profitable, despite its challenging industry, should give confidence to new investors.
Anyone looking for a solar pick that is literally at the bottom end of the bargain bin should consider this stock for 2020.
- 1 Year Price Growth: -70.24%
- YTD Price Growth: -70.24%
- 3 Month Price Growth: -45.50%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.