PowerSecure just announced that it is releasing a new product: an LED light for the utility market. Made to light up streets and sidewalks, the light boasts the following benefits: 2/3 less energy consumption, 5 times longer life (which reduces maintenance costs), and improved quality of light with minimal light pollution.
The company has already received its first order for the product from a large electric cooperative. The cooperative has ordered 200 of the lights… Read the rest
There were a few upgrades and downgrades of green stocks today, particularly in the solar space that I wanted to run through tonight.
Macquarie made a few calls in the solar space worth mentioning:
Yingli Green Energy (YGE) was upgraded from Neutral to Outperform. Shares finished up more than 5% and bounced off the 50 day moving average.
Sunpower (SPWRA) was upgraded from Underperform to Neutral. Shares finished up nearly 7% today and are nearing … Read the rest
Merriman Curhan Ford is upgrading Cree Inc (CREE) from Neutral to Buy this morning, saying the LED outlook is getting brighter.
Hat tip to StreetInsider.com for the following analyst comment:
“Cree recently raised its June quarter outlook and we believe the company could meet or exceed the high end of its recently revised guidance. LEDs are rapidly replacing CCFLs in TV backlighting and quickly gaining acceptance in the general lighting market that is benefiting Cree … Read the rest
Rubicon Technology (RBCN), which makes components for LED’s, swung to a loss in the 2nd quarter vs a profit in the year ago quarter of .12/share. While the company did beat expectations for revenue and EPS by reporting an EPS loss of .15 and revenues of $3.2 million, this is a company that continues to struggle after showing some promise last year. You certainly wouldn’t know it by its stock price! I suppose on the … Read the rest
I missed this earlier this morning which certainly helped push the stock significantly higher for the 2nd day in a row. Canaccord Adams upgraded Cree Inc (CREE) from Sell to Hold and raised the price target from $17 to $29.
Hat tip to StreetInsider.com for the following analyst comment.
“Our sources in the supply chain indicate that Cree is likely to see better margins this quarter, and we expect the company could likely beat the … Read the rest
Cree just announced that its LED lights have been used to illuminate North Carolina’s first LEED-certified McDonald’s franchise. The store, which was rebuilt to achieve LEED gold certification, expects to have the certification confirmed by October.
CREE’s LED lights make up 97% of the lighting system in the building, which uses a whopping 78% less energy that conventional lighting. The building is also designed with skylights to allow natural light to enter the store, and … Read the rest
Morgan Joseph has initiated coverage on Cree Inc (CREE) this morning with Hold saying the stock is fairly valued at current levels. The firm believes Cree is the best play on LED’s and is gaining market share of 1-2% per year while its largest competitor, Nichia, continues to lose share. They don’t believe LED’s are a fad, but rather a long term growth story. The other publicly traded LED play to keep an eye on … Read the rest
Cree Inc (CREE) has been on fire over the past several months and clearly emerging as a leader in the LED space. Today they announced the first commercially available water resistant LEDs for outdoor video screens. Previously, LED’s screens had to be protected from the elements, costing customers time and money so the encapsulation at the LED level is a big improvement. The red-green-blue LED has an IPx5 rating indicating it’s protected from low … Read the rest
Cree Inc (CREE) continues to trend up along that 50 day moving average and will get another nice pop up in the morning after the company came out after the bell and raised guidance due to stronger LED demand for both lighting and notebook computers. For the 4th quarter ending June 28th, the company now targets revenue in the range of $143 – $150 million and non GAAP earnings of .15 – .17/share. On their … Read the rest
Echelon (ELON) may be a company to watch in the future with exposure in LED lighting, demand response and smart grid networking but for now the company remains unprofitable with no signs of a turn around yet. The company posted a non GAAP loss of .06/share which beat estimates of -.14/share but revenues shrunk by about 25% over the year ago quarter.
Said the CEO, “In the near-term, we expect the current economic slowdown to … Read the rest