According to StreetInsider.com, Wedbush Morgan is out this morning with coverage on two solar names – Ascent Solar Tech (ASTI) and Energy Conversion Devices (ENER).
* ASTI gets a Hold rating and $5.50 price target.
Wedbush analyst says, “CIGS manufacturing technology supports long-term prospects in high-end specialty markets. CIGS roll-to-roll manufacturing enables product use in various applications including BIPV, EIPV, and solar panels…Potential acquisition target by strategic partner or new market entrant. Provides interesting … Read the rest
Tetra Tech (TTEK) has been awarded new work with the Port of LA and Port of Long Beach with an estimated value of 25.6 million over the next 5 years with the majority of work focusing on the Clean Trucks Program, designed to reduce truck pollution at the ports by 80% by 2012. TTEK will provide admin, technical and environmental support during the process and continues its 15 year relationship with the ports.… Read the rest
Goldman Sachs analyst Michael Molnar has had a change of heart on his rosy outlook for both Sunpower (SPWR) and First Solar (FSLR), slapping both with Sell ratings this morning, down from previous Buy ratings due to oversupply issues and a lack of European subsidies.
“The risk of oversupply in the solar market will soon become a reality as considerably less generous demand subsidies take hold just as a wave of supply and tight … Read the rest
Forbes.com notes that the general economic malaise is affecting share prices of several of the top ethanol companies. Aventine Renewable Energy Holdings (AVR) plummeted to its lowest share price ever on Monday, bottoming out at $1.93 before climbing slightly to close at $2.10. Pacific Ethanol (PEIX) dropped 15.6% to close at $1.08, while VeraSun (VSE) dropped 12.4% to close at $1.84.
Even agribusiness giant Archer Daniels Midland (ADM) was not immune from the slump, falling … Read the rest
Goldman Sachs changed the rating of several key solar power stocks from "Buy" to "Sell," according to 247Wallstreet.com. The stocks affected by the change include First Solar and SunPower. The downgrade seems to be the result of two major factors. First, some people are predicting that the supply of solar power will exceed demand for it by 2010. Secondly, the credit crunch makes it difficult for companies to get financing on new projects.
New Jersey announced that Garden State Offshore Energy, a joint venture between PSE&G Renewable Generation and Deepwater Wind, to build a $1 billion wind farm off the coast of New Jersey. Located about 16 miles southeast of Atlantic City, the plant would produce 345 MW of clean wind power once completed, enough to power 125,000 New Jersey homes.
The wind farm is part of a push by New Jersey to increase the amount of renewable … Read the rest
American Technology Research Reinstated coverage today on a few alternative energy plays during the trading day today:
* Aventine Renewable (AVR) with a Neutral rating and price target of $3 * VeraSun (VSE) with a Neutral rating and price target of $2.25 * Fuel Systems Solutions (FSYS) get a Buy rating and a price target of $45 (it’s getting interesting down here, but I’d like to see it come back and test the area around … Read the rest
Chairman and CEO Shawn Qu remarked: “These two contracts mark the seventh and eighth annual 2009 sales contracts we have signed with our long-term and loyal European customers in the past month. These contracts typically feature fixed prices for the first six months. The demand and pricing for Canadian Solar’s products remains strong and … Read the rest
A-Power Energy (APWR), once a high flying China wind play now trading less than 6 bucks a share is announcing some decent contracts. Today, it announced the 2nd contract with China National Automation and this one is 10x the size of the previous contract announced just a few days ago. Under this contract APWR will deliver 50 2.7MW wind turbines by July of next year.
Said the CEO, “We are currently in late-stage discussions … Read the rest
Despite a difficult market for new homes, GE reports that its Ecomagination homebuilding program is going strong. The program helps designers and builders create homes that are energy efficient without being Spartan. Ecomagination homes use GE’s SmartCommand Enviro Monitor to help homeowners monitor energy and water consumption and set the thermostat for the home’s heating and cooling system.
According to Patrick McElhaney, manager of the Ecomagination homebuilding program, "Currently, builders and developers have committed to … Read the rest
Green Alternative Energy Stocks – Solar, Wind, LED Lighting,Smart Grid, Electric/Hybrid Cars, Wave Energy, Green Building, Biofuels & Geothermal