With all the concerns being voiced about the possible impact of the credit crisis on the solar power market, it’s nice to have some good news to report. The stock market as a whole rallied a little bit yesterday, but according to Eric Savitz of Barron’s Tech Trader Daily, solar stocks in particular were "dramatically outperforming" the market as a whole. Many of the major solar players saw their share prices rise with double-digit … Read the rest
All posts by Tate Dwinnell
Against the Grain Gabelli Issues a Sunpower (SPWRA) Buy Rating!
I posted earlier about all the negativity surrounding the solar sector, but according to StreetInsider.com Gabelli is going out on a limb and issuing a buy rating and a $90 price target on Sunpower (SPWRA) saying “..centered on technology leadership, SPWRA produces the highest efficiency commercially available solar modules allowing the company to command a premium in the market, the high efficiency leads to a smaller footprint which makes SunPower the preferred choice for … Read the rest
A-Power Energy (APWR) Reaffirms Earnings Guidance, Soars 55%
A-Power Energy (APWR) is skyrocketing this morning after the company reaffirmed earnings guidance on Friday night with plans to conduct a conference call October 15th at 9AM EST.
John Lin, A-Power’s Chief Strategy Officer and Interim Chief Financial Officer, “We want to reaffirm our earnings guidance, while also noting we anticipate our third quarter 2008 financial statement review will be finalized within the next 30 days, when we will schedule our third quarter earnings call.”… Read the rest
Green Plains Renewable Energy (GPRE) Reports Strong Results
After the bell on Friday, Green Plains Renewable Energy reported very good Q3 results as revenues continue to soar. The company still reported a loss of .11/share in the typically weak 3rd quarter but much less than the loss of .40/share in the year ago quarter as revenues surged to over 100 million for the first time in its short history.
“In recent months, there have been extreme fluctuations in commodity markets,” said Wayne Hoovestol, … Read the rest
Analysts Continue Negative Outlook On Solar Energy Sector
Despite the solar stocks being pummeled into oblivion for the entire year and accelerating those losses in the past few weeks, analysts continue with the negative outlooks and sell ratings. Let’s keep in mind though that analysts are almost always late to the party and that may be the case in this situation as well. With solar stocks being the biggest beneficiary of the extension of tax credits in the recent bailout bill and the … Read the rest
SunPower (SPWRA, SPWRB) and GE (GE) Work Together To Provide Solar Power To HP
SunPower and GE worked together on a project to provide a solar power system for HP’s printing technology research facility in San Diego, California. SunPower installed one of its SunPower(R) T10 Solar Roof Tile commercial roof systems at the HP building, which will reduce HP’s emission by more than 60 million pounds over the next 30 years. Instead of purchasing the system itself, HP is buying the energy from GE Energy Financial Services, which sells … Read the rest
Invesco Buys 15 Million Shares Of VeraSun (VSE), Lifting Share Price
The stock price of troubled VeraSun Energy got a boost on Friday, when Invesco, an investment firm based in Bermuda, announced that it had purchased 15.88 million shares of VeraSun stock.
VeraSun stock prices ended the day on Friday at $1.90/share, an increase of 10%.
One of the largest producers of ethanol in the US, VeraSun’s earnings have suffered due to high corn prices. The value of the stock plummeted in September, when the … Read the rest
Peregrine Semi Won’t Take Additional Shipments From Rubicon Technology (RBCN)
Rubicon Technology (RBCN), the materials provider of monocrystalline sapphire for use in LED’s announced late last week that Peregrine Semiconductor will not take additional shipments of sapphire until further notice due to weakening demand as a result of the global economic slowdown. The contract called for a $2 million deliver late this year and another $5 million in the first half of 09, so for a company that does less than $40 in sales in … Read the rest
Suntech (STP) Hit With Sell Rating
It was a crazy week last week for me so I need to catch up a bit in the world of green stocks! On Thursday of last week, Suntech Power (STP) was hit with a sell rating and price target of $16 by Hapoalim Securities (who?) saying they are impressed by the cost structure of the company but believes their 35 – 45%% exposure to Spain and nearly 85% exposure to Europe will hurt them … Read the rest
Hoku Scientific (HOKU) Gets Loan To Finance Polysilicon Plant
Hoku Scientific has been approved for a $5 million loan with First Hawaiian Bank. The loan will help the company finance expenses incurred from the construction of its new polysilicon manufacturing plant in Idaho. The loan, which carries a 5% interest rate, must be paid back by January 1, 2009. … Read the rest