JP Morgan is out with a bearish call on solars this morning downgrading First Solar (FSLR) and Energy Conversion Devices (ENER) to Underweight and initiating coverage on Evergreen Solar (ESLR) with a Neutral.
Notable calls has all the details on the call, but here are some highlights:
– JP Morgan reiterates the same old concerns of supply and margin headwinds
– they like LED and wind energy better right now
– German tariff reset will … Read the rest
Hoku Scientific (HOKU) is up nearly 12% in after hours trading on news it has finally received the rest of the loan from Tianwei New Energy in order to keep the company running. This loan is the final $30 million of the total $50 million loan it has now received from Tianwei. The loan was supposed to be paid last month, but got held up in Chinese government red tape.
The cash will go to … Read the rest
Real Goods Solar (RSOL) reported 4th quarter results after the bell today, posting slightly better results than what analysts expected. The company posted an EPS of .01/share on revenues of $19.1 million. Analysts expected a flat quarter on revenues of $18.85 million. That’s good for a 42% increase in revenues over the year ago quarter and a big improvement in EPS too considering the company posted a .08/share loss in the year ago quarter.
RSOL … Read the rest
Janney Montgomery Scott is maintaining its Buy rating on YGE following earnings and raising the price target whopping 50 cents to $18. Hat tip to Street Insider for the following analyst comment:
“Yingli Green Energy reported strong Q4 results (excluding extraordinary items) and gave very bullish 2010 guidance. Given YGE’s ability to achieve its 2009 guidance (despite difficult conditions in the solar market) and the fact that 90% of 2010 shipments are currently under contract, … Read the rest
Yingli Green Energy (YGE) is down about 7% this morning after reporting another big surge in revenues, but missing analyst estimates on the EPS side. The company reported an adjusted non GAAP EPS of .13/share which missed by a penny and is flat over the year ago quarter. Revenues were much better at $370 million, representing a 44% increase over the year ago quarter and well ahead of the $326 million estimate.
Here are … Read the rest
Pacific Ethanol just announced that it will be partnering with Socius CG II, Ltd. to satisfy $34.7 million of outstanding debt with Lyles United LLC and its affiliate Lyles Mechanical Co. Under the agreement between the 3 companies, Lyle has agreed to sell the debt to Socius in $5 million segments.In exchange, Pacific Ethanol will provide Socius with free-trading shares of the Company’s common stock. These shares will be provided at a 20 percent discount … Read the rest
American Superconductor has just announced that it has received a follow-on order from CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd. (CSR-ZELRI). The wind turbine core electrical component order, worth $10 million, is the fifth order that CSR-ZELRI has placed with AMSC. AMSC will deliver the components to CSR-ZELRI by the end of the calendar year.
In a , Dan McGahn, president and chief operating officer of AMSC, commented on the news:
“CSR-ZELRI has done … Read the rest
Yingli Green Energy just announced that it will be expanding manufacturing capacity at its Baoding headquarters. The project will involve building PANDA mono-crystalline silicon-based manufacturing lines capable of producing 300 MW per year of mono-crystalline ingots and wafers, cells and modules. The PANDA production lines use technology developed through Project PANDA, Yingli Green Energy’s collaboration with Energy Research Centre of the Netherlands and Amtech Systems, Inc.
To finance the project, Yingli also announced that it … Read the rest
Comverge (COMV) reported a non GAAP EPS of -.02/share this morning which is slightly more than the analyst estimate of a .01/share loss. Revenues matched analyst estimates at $40.8 million which is a record for the company. While revenues increased 18% over the year ago quarter, the company did report a .28/share profit a year ago and the company said that historically, its 4th quarter is the best due to recognition of their Virtual Peaking … Read the rest
Speculation has been swirling for a few months now that legislation would be passed putting the kibosh on the big 600MW Texas wind farm being developed by Shenyang Group (which A-Power has majority ownership of) and a few US based companies such as US Renewable Energy and Cielo Wind.
A few Democrats aren’t all that thrilled that China based A-Power Energy is playing such a big part, supplying the turbines for the project. According to … Read the rest