Advanced Energy shares fall on CEO resignation
Shares fell to $16.52 Tuesday morning after opening at $19. The Fort Collins-based company makes solar and thin-films products.
New York City-based analyst Needham & Co. LLC downgraded the stock from a “buy” to “hold” Tuesday. Rogerson is viewed as a key figure in driving major operational changes aimed at strong earnings growth at Advanced Energy, Needham senior analyst Edwin Mok said in a report.
Rogerson’s planned departure follows the resignation of Advanced Energy’s solar unit President…
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