I just posted about the Credit Suisse caution about increasing solar supply and softening demand for next year. They aren’t the only ones sounding the caution alarm. A couple days ago, Axiom Capital was quoted in Bloomberg as saying it could be an Armageddon situation in the solar space next year as capacity ramps up and demand softens. Analyst Gordon Johnson potentially sees supply outstripping demand 3:1 which would send prices crashing (he predicts to … Read the rest
All posts by Tate Dwinnell
Suntech Power (STP) Reports Mixed Results, Testing Yearly Low
Suntech Power (STP) continues to get punished and is testing the yearly lows today after reporting earnings that were shy of analyst estimates on the EPS side. The company reported an EPS of .18/share vs the analyst estimate for .23 on revenues of $744 million vs the analyst estimate of $713 million. Gross margin slipped sequentially from 18.2% to 16.4% due to a decrease in ASP.
===> Click Here For Your FREE Suntech Power Technical … Read the rest
Credit Suisse Has Solar Supply Concerns, Downgrades SOLR, TSL, SOL, FSLR, JASO, STP
According to Barron’s, Credit Suisse is out this morning downgrading several solar stocks due to concerns about oversupply and softening demand next year. Analyst Satya Kumar sees new capacity of 2GW/month this quarter with an overall increase of 50% next year while demand remains flat. As a result, pricing could decline quicker than expected.
He’s downgrading six solar stocks, all of which are under pressure today.
Outperform ==> Neutral: First Solar (FSLR), Trina Solar … Read the rest
Misleading Headlines For Daqo New Energy (DQ), Actually An Impressive Quarter; Auriga Reiterates Buy & $20PT
After trading stocks for nearly 15 years and covering the markets religiously for nearly 10, there are certain nuances you pick up on. One is the fact that the blogosphere is riddled with misleading headlines and outright errors. Hey, I’m guilty too at times. It always pays to double check and also keep in mind that most sites don’t report the non GAAP number which is the number that analysts use. That’s why you’ll often … Read the rest
China Wind Systems (CWS) Reports Mixed Results, Lowers EPS Guidance
China Wind Systems (CWS) has reported earnings results this morning that might disappoint traders and send the stock lower, but there is support around the $4.50 level, so the stock remains bullish if it can hold that level today. The company beat analyst estimates on the EPS side reporting .12/share vs the estimate for .11/share on revenues of $21.3 million which misses the analyst estimate for $22.3 milion.
Advanced Battery Tech (ABAT) Reports Mixed Results, But Shares Up
Advanced Battery Tech (ABAT) which has long been my favorite lithium battery play, reported Q3 earnings results last night that were mixed, but traders like the report, sending the stock up a few percent in pre-market trading. The company reported an EPS of .16/share vs the analyst estimate for .12/share on revenues of $25.9 million which was just shy of the analyst estimate of $27.5 million. Those numbers represent a 100% quarter over quarter jump … Read the rest
China Sunergy (CSUN) Smashes EPS Estimate
China Sunergy (CSUN) reported Q3 earnings results this morning that smashed analyst estimates on the EPS side, but inline on the revenue side. The company reported an EPS of .37 (well ahead of the .20/share estimate) on revenues of $126 million which matched the analyst estimate. That’s good for quarter over quarter growth of 95% and 57% respectively.
===> Click Here For Your FREE Daily China Sunergy Technical Analysis
“Supported by continued strong solar market … Read the rest
Hapoalim Remains Cautiously Bullish On China Solars (TSL, YGE)
Hapoalim Securities is raising its 2010 and 2011 estimates on Trina Solar (TSL) and is raising the price target from $21 – $27 driven by firm pricing, a rebounding Euro and lower input costs. Shares of TSL were hit hard on Friday with heavy volume, but held support at the 200 day moving average and our recovering a bit today.
===> Click Here For Your FREE Daily Trina Solar Technical Analysis
Hapoalim is also raising … Read the rest
Tri-Tech Holdings (TRIT) Posts Big Growth, But Shy Of EPS Estimate & Weak Guidance
Tri-Tech Holdings (TRIT), a China water pollution play, posted big quarter over quarter growth this morning, but the EPS was a hair shy of the analyst estimate and revenue guidance for 2010 was below expectations as well. The company reported an EPS of .28/share (vs the estimate for .29/share) on revenues of $16.9 million (vs the estimate of $13.6 million). That’s good for a 40% quarter over quarter jump in EPS and a 245% jump … Read the rest
Tesla (TSLA) Expects Japan To Be 2nd Largest Market
According to the WSJ, Elon Musk said today he expects Japan to be the 2nd largest market for its luxury electric cars, likely aided by its partnership with both Toyota and Panasonic. Toyota invested $50 million in Tesla and the two companies will jointly develop an all electric SUV while Panasonic recently invested $30 million. Tesla opened its first showroom in Tokyo last month and has six dealerships in Europe.
====> Click Here For Your … Read the rest