Clean Energy Fuels (CLNE) has been awarded another CNG contract this morning, this time from the Atlantic County Utilities Authority which provides waste and recycling services in southern New Jersey. CLNE will design, build and maintain a new compressed natural gas fueling station to support ACUA’s growing fleet of CNG vehicles. The facility will be open 24/7 and be available to the general public. No word on the financials of the deal
James Harger … Read the rest
A few days ago, the most important green energy ETF since the first solar ETF’s launched arrived. The First Trust/Clean Edge Smart Grid ETF (GRID) offer a great, diversified way to play an emerging sector with great profit potential. The ETF is comprised of 29 companies with varying degrees of exposure to the smart grid space and the fund weights companies that are pure plays more heavily than those that aren’t. The top 3 holdings … Read the rest
Two pillars of the China solar industry, Trina Solar (TSL) and Suntech Power (STP) smashed the low expectations of analyst estimates this morning.
TSL reported a Q3 EPS of $1.29, versus the analyst estimate of $0.75. Revenue for the quarter was $249.7 million, much greater than the analyst estimate of $216.30 million. Shares are trading higher again this morning, up about 4%.
Suntech (STP) reported Q3 EPS of $0.16, 9 cents better than the analyst … Read the rest
American Superconductor (AMSC) is up about 3% in premarket trading after affirming 2009 guidance and guiding 2010 EPS above analyst estimates. For 2009, the company sees revenues of $300 – 310 million and an EPS of .59 – .64 both of which are about what analysts expect. For 2010, the company sees revenues of more than $400 million and an EPS of more than $1.15 which is significantly greater than the $1.04/share analysts are estimating … Read the rest
Yesterday before the bell, Canaccord Adams initiated coverage on Rino Intl (RINO) with a Buy rating and price target of $34
Hat tip to StreetInsider.com for the following analyst comment:
“RINO is a China-based environmental protection company. Its core businesses are flue gas desulphurization (FGD), wastewater treatment, and anti-oxidation equipment for the Chinese steel industry. It has also won its first contract to provide sludge-treatment technology for municipal wastewater treatment plants. The Chinese government has … Read the rest
Before the closing bell yesterday, Kaufman Bros reiterated its Buy rating on Sunpower (SPWRA) despite the accounting issues weighing on the stock. You have to admire Kaufman’s conviction when every other analyst immediately issued sell ratings. I think it’s too soon to be jumping in to SPWRA, but once this blows over, it could offer one heck of a long term entry point.
Here are the analyst notes courtesy of StreetInsider.com
“SunPower announces accounting irregularities … Read the rest
Solarfun Power (SOLF) got back in the black in a big way, reporting a Q3 EPS of $0.37 this morning, smashing analyst estimates of just .14/share. Revenues were down over the year ago quarter but continue to improve sequentially at $144 million.
The company reported better diversity in the quarter with the new Czech solar market contributing 8% of shipments, but the company is still concentrated in Germany with 60% of its shipments there. That’s … Read the rest
China Sunergy (CSUN) posted a big gain for the 3rd quarter, but all of that was in currency fluctuation gains. On an adjusted basis the company actually reported a loss of .03/share vs the analyst estimate of a .02/share gain. Revenues came in above analyst estimates at $80 million, but that was 33% lower than the year ago quarter. The stock is likely rallying on the company forecast for next quarter which calls for strong … Read the rest
Sequentric Energy Systems, LLC just announced the release of a new product: the Sequentric ERT Gateway, a home energy management hub that provides data on home energy use directly to consumers, using Itron’s ERT reading functionality.
The device allows utilities to provide customers with up-to-the minute information on energy consumption in their home, connecting them to the smart grid and allowing them to manage their energy usage. The device also works with load controllers, current … Read the rest
LDK Solar announced yesterday that it has sold a 15% ownership stake in its Xinyu City, China plant for $219 million. The stake was purchased by Jiangxi International Trust and Investment Co., Ltd.
In a press release, Xiaofeng Peng, Chairman and CEO of LDK Solar, commented on the sale
“We are very pleased with the continued support of our business from local financial institutions, as evidenced by this recent development. Jiangxi International Trust and … Read the rest