Rec Silicon shines as it eyes new silane opportunities

Rec Silicon ASA

08/02/2024 10:10

** Shares in REC Silicon  RECSI.OL  jump 10% as the
Norway-based producer of advanced silicon material says it is
working on new silane opportunities after it posted Q4 revenues
above expectation
    ** Arctic Securities analyst Daniel Stenslet points to
company commentary on new silane opportunities and initiatives
with battery material producers as the main driver behind the
share move
    ** "For the first time since the Hanwha agreement was
signed, the company says that it is 'actively positioning itself
for new silane gas opportunities' and that it has 'several
initiatives ongoing with battery material producers'", notes
Stenslet 
    ** Q4 revenues amounted to $40.5 million, which Arctic
Securities notes was 15% above consensus 
    ** If gains hold, the shares will see their best day in a
year 



 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))