REC Silicon ASA (RNWEF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
REC Silicon ASA (RNWEF) trades at $0.02 with AI Score 39/100 (Grade D). REC Silicon ASA produces and sells silicon materials for the solar and electronics industries internationally. The company offers Signature Silane gas and solar grade polysilicon. Market cap: $8.20M, Sector: Technology.
Price live · AI analysis from Mar 16, 2026Analyst Coverage for RNWEF: RNWEF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates RNWEF against Technology peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
RNWEF: 1/1 perspectives are bearish.
How is this calculated? →REC Silicon ASA (RNWEF) Technology Profile & Competitive Position
REC Silicon ASA, based in Norway, provides silicon materials for the solar and electronics sectors, offering Signature Silane gas and polysilicon products. With a focus on specialty gases and solar-grade silicon, the company caters to manufacturers of flat panel displays, semiconductors, and solar cells, operating in a competitive global market.
What Is the Investment Thesis for RNWEF?
REC Silicon ASA operates in the semiconductor and solar material sectors. With a market capitalization of $8.20M, the company's financial performance shows a negative profit margin of -80.7% but a strong gross margin of 76.3%. The company's free cash flow is negative, at $-0.00B. REC Silicon's beta is -0.17. Growth catalysts include increasing demand for polysilicon in solar panel manufacturing and the expanding use of silicon materials in advanced electronics. Key risks include market volatility in the solar industry and competition from other silicon manufacturers. The company does not currently offer a dividend.
Based on FMP financials and quantitative analysis
RNWEF Key Highlights
- Market Cap of $8.20M indicates the company's size relative to its peers in the semiconductor materials industry.
- Gross Margin of 76.3% demonstrates strong efficiency in production costs despite overall profitability challenges.
- Negative Profit Margin of -80.7% highlights current challenges in converting revenue to profit.
- Free Cash Flow of $-0.00B indicates that the company is not currently generating positive cash flow from operations.
- Beta of -0.17 suggests the stock price has a low correlation to the broader market.
Who Are RNWEF's Competitors?
RNWEF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| CWB State Street SPDR Bloomberg Convertible Securities ETF | $105.34 | +0.92% | $4.62B | 47 |
| TDV ProShares - S&P Technology Dividend Aristocrats ETF | $100.89 | +1.33% | $293.21M | 47 |
| DAUG FT Vest U.S. Equity Deep Buffer ETF - August | $46.97 | +0.26% | $363.40M | 47 |
| KSTR KraneShares SSE STAR Market 50 Index ETF | $28.75 | +2.00% | $67.07M | 47 |
| FTQGX Fidelity Focused Stock Fund | $48.04 | -2.26% | $5.41B | 44 |
| SHAPX ClearBridge Appreciation A | $36.64 | +0.80% | $9.79B | 44 |
| FGFRX Federated Hermes International Leaders Fund Class R | $47.03 | +1.34% | $1.53B | 44 |
| SBYEX BNY Mellon Diversified Emerging Markets Fund | $23.10 | -0.04% | $48.80M | 44 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are RNWEF's Key Strengths?
- Specialized product portfolio of silicon materials.
- Technological expertise in producing high-purity silicon.
- Established presence in the solar and electronics industries.
What Are RNWEF's Weaknesses?
- Negative profit margin.
- Negative free cash flow.
- Dependence on cyclical industries (solar and semiconductors).
What Could Drive RNWEF Stock Higher?
- Increased demand for polysilicon in the solar industry due to renewable energy initiatives.
- Expansion of silicon material usage in advanced electronics and electric vehicles.
- Potential strategic partnerships with solar and electronics companies to expand market reach.
- Development of new advanced silicon materials with enhanced properties.
What Are the Key Risks for RNWEF?
- Financial-distress signal — its Altman Z-Score of -44.77 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
- Fluctuations in polysilicon prices impacting revenue and profitability.
- Increased competition from other silicon manufacturers in Asia and globally.
- Changes in trade policies and regulations affecting international sales.
- Dependence on cyclical industries (solar and semiconductors) leading to revenue volatility.
What Are the Growth Opportunities for RNWEF?
- Expansion in Solar Polysilicon Market: The global solar energy market is projected to reach significant growth by 2030, driven by increasing demand for renewable energy. REC Silicon can capitalize on this trend by increasing its production capacity of solar grade polysilicon, particularly its NextSi product. This expansion requires strategic investments in production facilities and supply chain optimization to meet the rising demand from solar module manufacturers.
- Penetration of Electronics Grade Silicon Market: The demand for electronic grade polysilicon is growing due to its use in advanced electronic devices, including electric vehicles, 5G communications, and high-speed trains. REC Silicon can focus on increasing its market share in this segment by offering high-quality electronic grade polysilicon products, such as float zone-based devices and Czochralski silicon, tailored to the specific needs of semiconductor manufacturers.
- Strategic Partnerships with Solar and Electronics Companies: Forming strategic partnerships with key players in the solar and electronics industries can provide REC Silicon with access to new markets and technologies. These partnerships can involve joint research and development projects, supply agreements, and co-marketing initiatives. By collaborating with industry leaders, REC Silicon can strengthen its competitive position and accelerate its growth.
- Geographic Expansion into Emerging Markets: Emerging markets in Asia and Latin America are experiencing rapid growth in both the solar and electronics sectors. REC Silicon can expand its presence in these regions by establishing local sales offices, distribution networks, and production facilities. This geographic diversification can reduce the company's reliance on mature markets and tap into new sources of demand.
- Development of Advanced Silicon Materials: Investing in research and development to create advanced silicon materials with enhanced properties can provide REC Silicon with a competitive edge. This includes developing new types of polysilicon with improved purity, conductivity, and durability. By offering innovative silicon materials, REC Silicon can attract customers seeking high-performance solutions for their solar and electronic applications.
What Opportunities Does RNWEF Have?
- Growing demand for solar energy and polysilicon.
- Expansion in the electronics grade silicon market.
- Strategic partnerships with industry leaders.
What Threats Does RNWEF Face?
- Fluctuations in polysilicon prices.
- Competition from other silicon manufacturers.
- Changes in trade policies and regulations.
What Are RNWEF's Competitive Advantages?
- Specialized Product Portfolio: Offers a range of silicon materials tailored to specific applications.
- Technological Expertise: Deep knowledge in the production of high-purity silicon materials.
- Established Customer Relationships: Long-standing relationships with key players in the solar and electronics industries.
What Does RNWEF Do?
REC Silicon ASA, founded in 1996 and headquartered in Lysaker, Norway, specializes in the production and sale of silicon materials for both the solar and electronics industries. Originally known as Renewable Energy Corporation ASA, the company rebranded in October 2013 to reflect its core focus on silicon production. REC Silicon's product portfolio includes Signature Silane gas, a high-purity silicon product used in the fuel industry, and specialty gases like Dichlorosilane, Monochlorosilane, and Disilane. These gases are essential in the manufacturing of flat panel displays, semiconductors, and solar cells. The company also produces solar grade polysilicon, including NextSi, which is used in the production of multi-crystalline and monocrystalline solar ingots and wafers for solar modules. Additionally, REC Silicon offers electronic grade polysilicon, including float zone-based devices used in applications such as motor control, power conversion for hybrid and electric vehicles, wind energy, high voltage transmission, 5G communications, high-speed trains, IoT, and big data, as well as Czochralski for manufacturing semiconductor wafers used in memory processors, optics, and micro electromechanical systems. REC Silicon operates internationally, serving customers across various regions.
What Products and Services Does RNWEF Offer?
- Produces Signature Silane gas for fuel industries.
- Manufactures specialty gases like Dichlorosilane, Monochlorosilane, and Disilane.
- Supplies materials for flat panel displays, semiconductors, and solar cells.
- Produces solar grade polysilicon, including NextSi.
- Provides electronic grade polysilicon for motor control and power conversion.
- Offers silicon materials for hybrid and electric vehicles, wind energy, and 5G communications.
- Supplies silicon for high-speed trains, internet of things, and big data applications.
- Produces Czochralski silicon for semiconductor wafers.
How Does RNWEF Make Money?
- Manufactures and sells Signature Silane gas and specialty gases.
- Produces and sells solar grade polysilicon for solar module manufacturing.
- Offers electronic grade polysilicon for semiconductor and electronics applications.
What Industry Does RNWEF Operate In?
REC Silicon ASA operates within the semiconductor equipment and materials industry, a sector characterized by rapid technological advancements and cyclical demand. The solar industry, a key market for REC Silicon's polysilicon products, is experiencing growth driven by increasing adoption of renewable energy sources. However, the industry is also subject to fluctuations in polysilicon prices and trade policies. Competition includes established silicon manufacturers and new entrants, particularly from Asia. The company's success depends on its ability to maintain cost competitiveness and technological innovation.
Who Are RNWEF's Key Customers?
- Manufacturers of flat panel displays.
- Semiconductor manufacturers.
- Solar cell and solar module manufacturers.
Company Profile
REC Silicon ASA operates in the Semiconductors industry within the Technology sector. It is headquartered in Lysaker, NO. The company is led by CEO William Kurtis Levens. RNWEF has traded publicly since 2008.
F-Score 2/9Financial Health
REC Silicon ASA's Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -44.77 places it in the distress zone, a signal of elevated financial risk.
ROE 42%Key Financial Metrics
Return on equity for REC Silicon ASA stands at 41.8%, a gauge of how efficiently it converts shareholder capital into profit. A current ratio of 0.08 means current liabilities exceed short-term assets, a liquidity point worth watching.
RNWEF Valuation & Market Position
With a $8.20M market cap, REC Silicon ASA sits in the micro-cap segment of the market. Relative to its peer group, RNWEF's quantitative score of 39/100 is roughly in line with the peer average of 46/100.
FY2026 estForward Outlook
Wall Street analysts project REC Silicon ASA revenue of about $116.0M for fiscal 2026, with EPS near $-0.01.
RNWEF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Specialized product portfolio of silicon materials.
- Technological expertise in producing high-purity silicon.
- Established presence in the solar and electronics industries.
- Ongoing: Increased demand for polysilicon in the solar industry due to renewable energy initiatives.
Bear Case
- Negative profit margin.
- Negative free cash flow.
- Dependence on cyclical industries (solar and semiconductors).
- Ongoing: Fluctuations in polysilicon prices impacting revenue and profitability.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
RNWEF Latest News
No recent news available for RNWEF.
RNWEF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for RNWEF.
Price Targets
Wall Street price target analysis for RNWEF.
RNWEF MoonshotScore
What does this score mean?
The MoonshotScore rates RNWEF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Classification
Industry Semiconductor Equipment & MaterialsRNWEF OTC Market Information
The OTC Other tier, where RNWEF trades, represents the lowest tier of the OTC market. Companies in this tier often have limited financial disclosure and may not meet minimum listing standards required by major exchanges like the NYSE or NASDAQ. This tier includes companies that may be experiencing financial distress, are thinly traded, or do not provide adequate information to investors. Investing in companies on the OTC Other tier carries a higher degree of risk compared to those listed on national exchanges due to the lack of regulatory oversight and transparency.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited Financial Disclosure: Lack of transparency due to minimal reporting requirements.
- Low Liquidity: Difficulty in buying or selling shares due to low trading volume.
- Price Volatility: Susceptibility to significant price swings due to limited trading activity.
- Potential for Fraud: Higher risk of fraudulent activities due to less regulatory oversight.
- Going Concern Risk: Increased risk of business failure due to financial instability.
- Verify the company's registration and legal standing.
- Review available financial statements and disclosures.
- Assess the company's business model and competitive landscape.
- Evaluate the management team's experience and track record.
- Monitor trading volume and price fluctuations.
- Consult with a financial advisor.
- Understand the risks associated with OTC investments.
- Company has been in operation since 1996.
- Operates in the technology sector, specifically semiconductor equipment and materials.
- Has a global presence, selling products internationally.
RNWEF Technology Stock FAQ
What does REC Silicon ASA do?
REC Silicon ASA produces and sells silicon materials for the solar and electronics industries. The company offers Signature Silane gas, specialty gases like Dichlorosilane, Monochlorosilane, and Disilane, and solar grade polysilicon, including NextSi. These products are used in manufacturing flat panel displays, semiconductors, and solar cells. Additionally, REC Silicon provides electronic grade polysilicon for applications in electric vehicles, 5G communications, and high-speed trains, catering to a diverse range of technology sectors.
What are the main risks for RNWEF?
REC Silicon ASA faces several risks, including fluctuations in polysilicon prices, which can significantly impact revenue and profitability. The company also faces competition from other silicon manufacturers, particularly those in Asia. Changes in trade policies and regulations could affect its international sales. Additionally, REC Silicon's performance is tied to the cyclical nature of the solar and semiconductor industries, leading to potential revenue volatility. The OTC listing adds risks related to liquidity and disclosure.
What are the key factors to evaluate for RNWEF?
REC Silicon ASA (RNWEF) holds an AI score of 39/100 (low). Not financial advice.
How frequently does RNWEF data refresh on this page?
RNWEF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven RNWEF's recent stock price performance?
REC Silicon ASA (RNWEF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Specialized product portfolio of silicon materials. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider RNWEF overvalued or undervalued right now?
Valuing REC Silicon ASA (RNWEF) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying RNWEF?
Before investing in REC Silicon ASA (RNWEF), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding RNWEF to a portfolio?
Key strength of REC Silicon ASA (RNWEF): Specialized product portfolio of silicon materials. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data is based on the most recent available information.
- OTC market data may be limited or delayed.