Kandi Technologies (KNDI) which is ramping up production of its all electric COCO vehicle and made its first sale to the China postal service last week, reported earnings this morning that were about flat with the year ago quarter. The company says that the impact of the global recession is slowing which will be good for the company, but they continue to focus on China where the recovery is moving faster. They did acknowledge … Read the rest
All posts by Tate Dwinnell
ReneSola (SOL) Reports Mixed Results, Expects Return To Profitability In Two Quarters
ReneSola (SOL) reported mixed Q3 results this morning posting a loss of $0.07 which was inline with analyst estimates on revenues of $140.9 million which was a bit better than Wall St estimates of $136.8 million.
The company says it’s seeing a strong rebound in demand and expects to work through its high priced inventory early next year which will get the company back in the black. CEO Xianshou Li also commented on recent acquisitions:… Read the rest
Yingli Green Energy (YGE) Upgraded At Janney Montgomery, Downgraded At HSBC
We have conflicting views on Yingli Green Energy (YGE) out of Janney Montgomery and HSBC. Janney is upgrading it from Neutral to Buy with and has a price target of $20.
Hat tip to StreetInsider.com for the following analyst comment:
“We are upgrade Yingli Green Energy to BUY, as the outlook for pricing and thus margins have improved. Yingli is a major price setter, and they are guiding to a more benign pricing environment in … Read the rest
A123 Systems (AONE) Starts 2 New Business Groups
A123 Systems just announced that they are setting up 2 new business groups, one focused on transportation and one focused on cell design and development. Jason Forcier will head the Automotive Solutions Group, which will work with automtive and transportation manufacturers around the world to provide batteries and battery systems. Chris Tecca will head the Cell Products Group, which will focus on developing and improving a123’s battery cell products and Nanophosphate technology.
In a press … Read the rest
Suntech Power (STP) Expects To Develop 20% (18MW) Of Rooftop Solar Projects
Back in March, China’s Ministry of Finance launched a Solar Rooftop Program to increase energy efficiency and decrease cost. Soon thereafter, more than 100 applications were submitted and so far 91MW of solar projects have been approved to move forward. Suntech Power (STP) says it expects to develop about 20% of these projects. They have already developed 4MW and expects to develop the rest by the middle of next year
“Solar is an ideal … Read the rest
Rino Intl (RINO) Reports Blow Out Quarter, Shares Surge Again
RINO International (RINO) reported outstanding results again this morning, smashing analyst estimates. The company reported a non GAAP EPS of .78/share which nearly doubled the analyst estimate of .47 (again, remind me what these analysts are being paid for?) That’s just about a doubling of profits over the year ago quarter. The company smashed analyst estimates on the revenue side as well posting $63 million vs the estimate of $44 million.
CEO Zou Dejun … Read the rest
Yingli Green Energy (YGE) Posts Record Profit, Beats By 1 Cent
Yingli Green Energy (YGE) posted a mostly strong earnings report this morning, beating on the EPS side and posting record revenues, but missing Wall ST revenue estimates just a bit. Like most solar companies this quarter, the company posted results much better sequentially but flat compared to the year ago quarter. Granted, the year ago quarter was typically the best quarter for most solar companies, so starting next quarter the quarter over quarter growth should … Read the rest
Bluewater Wind Purchased By NRG Energy (NRG)
NRG Energy just announced that it has acquired Bluewater Wind, which has several offshore wind projects in its pipeline along with a 25-year, 200MW power purchase agreement with Delmarva Power and Light in Delaware. According to NRG, Bluewater’s employees will keep their jobs and continue to work from their current location in Hoboken, New Jersey.
in a press release, NRG’s president and CEO, David Crane, commented on the purchase:
“As public policy trends toward … Read the rest
Kandi Technologies (KNDI) Makes First Sale Of Its COCO Electric Car In China
Kandi Technologies (KNDI) is announcing this morning that it has sold the first 30 of its all electric COCO super minis in China to the local postal service in Jinhua City.
The CEO called it a milestone event that could represent the beginning of a long relationship with the Postal Service in China nationwide. The government has urged other public services to upgrade their vehicles as well to cleaner, fuel efficient options, so there are … Read the rest
A123 Systems (AONE) Reports Mixed Results & Another Large Loss
A123 Systems (AONE) beat estimates after the bell yesterday, but the company remains a long ways off from being profitable and results were basically flat over the year ago quarter. The company posted an EPS loss of .22/share, which is a bit worse than the .19/share loss reported last year, but better than the .33/loss analyst expected. Revenues came in at $23.6 million which is better than the $19 million analyst estimate and a slight … Read the rest