According to Barron’s, there are a few analyst calls in the solar space this morning and it’s a bit mixed, but leaning towards the bullish side.
Raymond James
Energy Conversion Devices (ENER) gets a downgrade from Market Perform to Underperform. The firm sees the market for amorphous silicon as bleak and not a viable technology in the long run. Shares are down 6% today but hanging in there above support of the 50 day moving … Read the rest
China Wind Systems (CWS) has been awarded a $3 million contract by Nanjing Chang Feng to supply them with a total of 1500 units of high speed shafts used to transmit energy from the gearbox to the generator in order to produce electricity from wind turbines. The first 500 units will be delivered before the end of the year and the rest in the 1st half of next year.
General Electric (GE) reported earnings on Friday, disappointing investors with poor results out of its energy infrastructure division. The CFO went so far as to say that the US wind market has collapsed with a 15% year over year decline in wind related business.
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Here are some highlights of the conference call related to their wind energy biz (transcript via Seeking Alpha)
Keith … Read the rest
Satcon Technology (SATC) has issued preliminary 3rd quarter results this morning and expects revenues to be much better than expected, but doesn’t see that translating into a profit. The company now sees revenues in the range of $56 – $58 million vs the analyst consensus estimate of $45.6 million, but on the EPS side the company a 2-3 cent share loss vs the estimate of a one cent share loss. They are raising revenue guidance … Read the rest
Much has been made of the partnership between Tesla Motors (TSLA) and Toyota (TM) to develop the RAV4 all electric SUV, but little has been announced to make the partnership official. This morning it’s official with news that the companies have signed a $60 million Phase I contract services agreement which has Tesla developing a powertrain system, including a battery, power electronics module, motor, gearbox and associated software. The payment will be made over time … Read the rest
Pacific Ethanol (PEIX) is moving in pre-market trading on news the company plans to resume ethanol production at its Stockton, California facility and expects to begin in December. The move comes as a result of two big decisions – the approval in the California state budget to provide funding for the California Ethanol Producer Incentive Program which provides payments to ethanol producers during times when the margins are unfavorable (I’d sure love that in my … Read the rest
Nexxus Lighting (NEXS) is surging 20% this morning with heavy volume on news that company has received the Energy Star label for its R30 LED light bulb. The Array R30 is the first LED reflector lamp replacement that’s qualified for the label. The company has submitted additional bulbs to Energy Star for approval.
Technically, today’s move is an important one for NEXS with the stock breaking out of a more than two month consolidation … Read the rest
Yesterday, LED stocks such as Cree Inc (CREE), Aixtron (AIXG) and Veeco Instruments (VECO) got a boost when the head of GE’s lighting unit Michael Petras said in a Bloomberg article that he anticipates LED lighting could account for as much as 75% of their sales in the unit within the next 10 years (compared with just 10% now).
Demand for LED will began to surge very soon due to the phasing out of the … Read the rest
General Electric (GE) is continuing to reinvent itself, putting the pieces in place to become an alternative energy behemoth. They are best known for their wind turbine business and sell their turbines all over the world, but the company aims to be a big player in solar and smart grids as well. They announced their thin film solar product will be available next year and this morning they have announced another purchase of another smart … Read the rest
First Solar (FSLR) is ramping capacity 500MW by building two new four line thin film solar manufacturing plants it was announced this morning. The company plans to build a plant in Vietnam and the US, both of which are expected to be completed by 2012 and create a total of 600 green jobs here in the US. The sites for the plants are still in negotiations and will be announced soon. The latest expansion plan … Read the rest