REC Silicon ASA (RNWEY) Stock Analysis
DELISTED 2026
What happened to REC Silicon ASA (RNWEY) stock?
REC Silicon ASA (RNWEY) no longer trades on public markets. It was delisted in June 2026. The figures below are historical and are not a current quote.
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 (RNWEY) trades at $0.001. REC Silicon ASA produces and sells silicon materials for the solar and electronics industries globally. The company offers solar and electronic grade polysilicon, as well as silicon gases. Sector: Technology.
Last analyzed: Mar 17, 2026Analyst Coverage for RNWEY: RNWEY 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 RNWEY against Technology peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
RNWEY: 1/2 scored disciplines lean bearish. Dominant signal: Ray Dalio bullish.
How is this calculated? →REC Silicon ASA (RNWEY) Technology Profile & Competitive Position
REC Silicon ASA, based in Norway, is a materials provider for the solar and electronics industries, specializing in polysilicon and silicon gases. With a negative profit margin and trading on the OTC market as an ADR, the company faces unique challenges and opportunities within the semiconductor landscape.
What Is the Investment Thesis for RNWEY?
REC Silicon ASA presents a complex investment case. The company's negative P/E ratio of -0.08 and a profit margin of -82.1% indicate significant challenges in achieving profitability. However, the increasing demand for polysilicon in both the solar and semiconductor industries could act as a growth catalyst. The company's strategic focus on high-purity polysilicon for advanced electronics applications may provide a competitive edge. Investors should closely monitor the company's ability to improve its financial performance and capitalize on market opportunities. Key factors to watch include production efficiency improvements, capacity utilization rates, and the overall growth of the solar and semiconductor markets.
Based on FMP financials and quantitative analysis
RNWEY Key Highlights
REC Silicon ASA operates with 466 employees, indicating a relatively lean organizational structure.
- The company's gross margin stands at 25.7%, suggesting potential for improvement in production efficiency and cost management.
- REC Silicon ASA's beta of -0.17 indicates a low correlation with the overall market, potentially offering some downside protection during market downturns.
- The company does not currently offer a dividend, reflecting its focus on reinvesting earnings for growth.
- REC Silicon ASA's products serve both the solar and electronics industries, diversifying its revenue streams.
Who Are RNWEY's Competitors?
RNWEY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ARRXF Archer Materials Limited | $0.18 | +0.00% | $49.2M | 51 |
| ENMPF Ensurge Micropower ASA | $0.10 | +0.00% | $389M | 38 |
| FRDSF 4DS Memory Limited | $0.01 | +0.00% | $20.6M | 38 |
| IQEPF IQE plc | $0.58 | -8.08% | $777M | 49 |
| IQEPY IQE plc | $14.54 | -6.19% | $566M | 48 |
| OBDCF Obducat AB (publ) | $0.23 | +0.00% | $34.7M | 64 |
| GUER Guerrilla RF, Inc. | $3.96 | -1.00% | $42.2M | 61 |
| INTT inTEST Corporation | $12.17 | -4.62% | $153M | 61 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are RNWEY's Key Strengths?
Established player in the polysilicon market.
- Offers both solar and electronic grade polysilicon.
- Produces silicon gases for various applications.
What Are RNWEY's Weaknesses?
Negative profit margin.
- High dependence on the cyclical solar and semiconductor industries.
- Limited geographic diversification.
What Could Drive RNWEY Stock Higher?
Increasing global demand for solar energy driving demand for solar grade polysilicon.
- Growing adoption of advanced semiconductor technologies boosting demand for electronic grade polysilicon.
- Potential for new strategic partnerships with solar panel manufacturers and semiconductor companies.
- Possible expansion into new geographic markets to increase sales and market share.
What Are the Key Risks for RNWEY?
Financial-distress signal — its Altman Z-Score of -44.78 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
- Negative profit margin indicating financial instability.
- Intense competition from other polysilicon manufacturers.
- Fluctuations in raw material prices impacting production costs.
- Geopolitical risks and trade barriers affecting international operations.
- Limited liquidity and transparency due to trading on the OTC market.
What Are the Growth Opportunities for RNWEY?
- Expansion in Solar Grade Polysilicon: The increasing global demand for solar energy presents a significant growth opportunity for REC Silicon ASA. As countries worldwide adopt renewable energy sources, the demand for solar panels and, consequently, solar grade polysilicon is expected to rise. REC Silicon can capitalize on this trend by increasing its production capacity and improving its production efficiency to meet the growing demand.
- Penetration of Electronics Market: REC Silicon ASA can further penetrate the electronics market by offering high-purity polysilicon for advanced semiconductor applications. The demand for semiconductors is driven by the proliferation of electronic devices, including smartphones, computers, and automotive electronics. By focusing on producing high-quality polysilicon that meets the stringent requirements of the semiconductor industry, REC Silicon can secure a larger share of this market. The semiconductor market is expected to continue its growth trajectory, presenting a lucrative opportunity for REC Silicon.
- Development of Silicon Gases: The company's silicon gases, including silane and dichlorosilane, have applications in various industries, including electronics and specialty chemicals. REC Silicon ASA can invest in research and development to expand its silicon gas product portfolio and explore new applications for these gases. By diversifying its product offerings, REC Silicon can reduce its reliance on polysilicon and tap into new revenue streams. The market for silicon gases is expected to grow in line with the expansion of the electronics and chemical industries.
- Strategic Partnerships: Forming strategic partnerships with solar panel manufacturers and semiconductor companies can provide REC Silicon ASA with access to new markets and customers. By collaborating with industry players, REC Silicon can secure long-term supply agreements and enhance its market position. Strategic partnerships can also facilitate technology transfer and knowledge sharing, enabling REC Silicon to improve its production processes and develop new products. These partnerships can be crucial for navigating the competitive landscape and achieving sustainable growth.
- Geographic Expansion: REC Silicon ASA can expand its geographic presence by establishing production facilities or sales offices in key markets. By locating closer to its customers, REC Silicon can reduce transportation costs and improve its responsiveness to market demands. Geographic expansion can also provide access to new sources of raw materials and skilled labor. The company should carefully evaluate potential locations based on factors such as market size, regulatory environment, and infrastructure availability. Expanding into high-growth regions can significantly boost REC Silicon's revenue and profitability.
What Are RNWEY's Competitive Advantages?
- Specialized production process for high-purity polysilicon.
- Long-standing relationships with key customers in the solar and electronics industries.
- Proprietary technology for silicon gas production.
What Does RNWEY Do?
REC Silicon ASA, founded in 1996 and headquartered in Lysaker, Norway, is a prominent producer of silicon materials catering to the solar and electronics sectors worldwide. The company's origins lie in the burgeoning renewable energy industry, initially named Renewable Energy Corporation ASA before rebranding to REC Silicon ASA in 2013. REC Silicon offers a diverse portfolio of solar grade polysilicon, including granular polysilicon, Siemens rod sections, chunks, chips, and fines, essential for solar panel manufacturing. Additionally, it provides electronic grade polysilicon, such as TearDrop and as-grown Siemens rods, vital for Czochralski monocrystalline ingot/wafer production in the semiconductor industry. These materials also serve other electronic market segments, including optics and microelectromechanical systems. Beyond polysilicon, REC Silicon produces silicon gases like silane, dichlorosilane, monochlorosilane, disilane, and polysilanes. The company's global reach extends to serving customers in various regions, positioning it as a key player in the supply chain for both the solar and electronics industries.
What Products and Services Does RNWEY Offer?
- Produces solar grade polysilicon for solar panel manufacturing.
- Manufactures electronic grade polysilicon for the semiconductor industry.
- Offers granular polysilicon, Siemens rod sections, chunks, chips, and fines.
- Provides TearDrop and as-grown Siemens rods for Czochralski monocrystalline ingot/wafer production.
- Supplies silicon gases such as silane, dichlorosilane, and monochlorosilane.
- Serves customers in the solar and electronics industries worldwide.
How Does RNWEY Make Money?
- Manufactures and sells solar grade polysilicon to solar panel manufacturers.
- Produces and sells electronic grade polysilicon to semiconductor companies.
- Generates revenue from the sale of silicon gases to various industries.
What Industry Does RNWEY Operate In?
REC Silicon ASA operates within the semiconductor industry, a sector characterized by rapid technological advancements and intense competition. The demand for polysilicon, REC Silicon's primary product, is driven by the growth of the solar energy and electronics markets. The industry is subject to cyclical trends, influenced by factors such as global economic conditions, government policies, and technological innovation. Competitors include ARRXF, ENMPF, FRDSF, IQEPF, and IQEPY, each vying for market share in the polysilicon and silicon materials space. The industry is also influenced by geopolitical factors, including trade policies and supply chain disruptions.
Who Are RNWEY's Key Customers?
- Solar panel manufacturers
- Semiconductor companies
- Electronics manufacturers
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.
Company Profile
REC Silicon ASA operates in the Chemicals - Specialty industry within the Basic Materials sector. It is headquartered in Lysaker, NO. The company is led by CEO Kurt Levens. RNWEY has traded publicly since 2009.
Financial Health
REC Silicon ASA's Piotroski F-Score is 3/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -44.78 places it in the distress zone, a signal of elevated financial risk.
Forward Outlook
Wall Street analysts project REC Silicon ASA revenue of about $116.0M for fiscal 2026, with EPS near $-0.01.
RNWEY Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- REC Silicon has seen increased insider buying recently, indicating confidence from management in the company's future prospects.
- Community sentiment has shifted positively, with discussions highlighting the growing demand for silicon in renewable energy applications.
- Recent partnerships and collaborations in the clean tech sector have bolstered perceptions of REC's potential for growth and innovation.
- The overall market trend towards sustainability has positioned REC Silicon favorably, aligning with investor interests in green technologies.
Bear Case
- Despite positive sentiment, there are concerns about the volatility in the semiconductor supply chain that could impact REC's operations.
- Recent bearish community discussions have raised questions regarding the company's ability to scale production effectively amid rising competition.
- Market perception remains cautious as investors weigh the potential risks associated with regulatory changes in the renewable energy sector.
- Some analysts point to historical performance fluctuations in similar companies, suggesting a need for caution in the current market environment.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
RNWEY Latest News
No recent news available for RNWEY.
Leadership: William Kurtis Levens
Unknown
William Kurtis Levens currently manages 466 employees at REC Silicon ASA. Additional background information regarding his career history, education, and previous roles is not available in the provided data. Further research would be required to provide a comprehensive profile of his professional background and credentials.
Track Record: Due to the limited information available, it is not possible to assess William Kurtis Levens's track record at REC Silicon ASA. Key achievements, strategic decisions, and company milestones under his leadership cannot be determined without additional data.
REC Silicon ASA ADR Information Unsponsored
An American Depositary Receipt (ADR) like RNWEY represents shares of a non-U.S. company (REC Silicon ASA) held by a U.S. depositary bank. RNWEY allows U.S. investors to trade REC Silicon ASA shares on the OTC market in U.S. dollars, simplifying the investment process compared to trading on the home market.
- Home Market Ticker: Oslo Stock Exchange (RNWE), Norway
- ADR Level: 1
- ADR Ratio: 1:1
- Home Market Ticker: RNWE
RNWEY OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that REC Silicon ASA may not meet the minimum financial standards or reporting requirements of higher tiers like OTCQX or OTCQB. Companies in this tier may have limited information available to investors, and trading activity can be sporadic.
- OTC Tier: OTC Other
- Limited liquidity and wider bid-ask spreads.
- Lack of regulatory oversight and transparency.
- Potential for price manipulation and fraud.
- Higher volatility compared to exchange-listed stocks.
- Difficulty in obtaining reliable information about the company.
- Verify the company's registration and legal status.
- Obtain and review the company's financial statements (if available).
- Research the company's management team and their track record.
- Assess the company's business model and competitive landscape.
- Evaluate the company's risk factors and potential liabilities.
- Consult with a financial advisor before investing.
- Understand the risks associated with investing in OTC stocks.
- The company has been in operation since 1996.
- REC Silicon ASA has a physical headquarters in Lysaker, Norway.
- The company serves customers in the solar and electronics industries worldwide.
REC Silicon ASA Technology Stock: Key Questions Answered
What happened to REC Silicon ASA (RNWEY) stock?
REC Silicon ASA (RNWEY) no longer trades on public markets. It was delisted in June 2026. The figures below are historical and are not a current quote.
Can I still buy RNWEY shares?
No. RNWEY stopped trading on public markets in June 2026, so the shares are not available through a broker. Anything you see quoted for RNWEY elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before RNWEY stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to REC Silicon ASA. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does REC Silicon ASA do?
REC Silicon ASA is a global provider of silicon materials, primarily focusing on polysilicon for the solar and electronics industries. The company manufactures and sells solar grade polysilicon used in solar panel production and electronic grade polysilicon for semiconductor manufacturing. Additionally, REC Silicon produces silicon gases used in various applications. The company's products are essential components in the renewable energy and electronics supply chains.
What do analysts say about RNWEY stock?
As of 2026-03-17, comprehensive analyst coverage for RNWEY is limited due to its OTC listing and smaller market capitalization. Available data indicates financial challenges, including negative profit margins. Investors should conduct thorough independent research and consider the risks associated with OTC-listed stocks before making any investment decisions. Analyst opinions may vary significantly if and when coverage becomes available.
What are the main risks for RNWEY?
REC Silicon ASA faces several key risks. The company's negative profit margin and financial instability pose a significant threat. Intense competition in the polysilicon market, fluctuations in raw material prices, and geopolitical risks can also impact its performance. Additionally, the limited liquidity and transparency associated with trading on the OTC market increase the risk for investors. These factors require careful consideration before investing in RNWEY.
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.
- Limited information available for OTC-listed companies.
- Financial data may not be fully up-to-date.
- Analyst coverage may be limited or non-existent.