Shares of Evergreen Solar (ESLR) have really struggled this year, but there are indications that the stock may be prepping for a big run in the coming weeks. Shares spiked above resistance of the 50 day moving average with big volume last week for the first since January and have pulled back to test what is now support at that level. I discuss the details of the technical action in the video below.
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Ascent Solar (ASTI) has announced a distribution agreement with DisaSolar of France which will use ASTI’s flexible, thin film solar product in passenger train roofs and commercial signage. No word on the length or financials of the deal.
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DisaSolar President Stephane Poughon stated, "Ascent Solar has a flexible, light-weight, CIGS solar module technology that is uniquely qualified to open new opportunities in everyday power … Read the rest
Shares of MEMC Electronic Materials (WFR) gapped up this morning on news its subsidiary SunEdison has sold what will be Europe’s largest solar plant to First Reserve for nearly $400 million. The 70MW Rovigo Solar Plant in Northern Italy was co-developed by SunEdison and Banco Santander and SunEdison will remain a minority investor in the project in addition to running the plant. First Reserve has made an initial payment of nearly $60 million and will … Read the rest
Yesterday, First Solar (FSLR) and Enbridge (ENR) announced they have achieved commercial operation of the Sarnia Solar Project in Ontario, making it the largest operating solar facility in the world. FSLR will operate and maintain the project for Enbridge which is expected to power nearly 13,000 homes.
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"Completing the world’s largest PV power … Read the rest
It’s been a mighty rough go for Raser Technologies (RZ) in recent months and if the stock price is any indication, many traders feel the company may not survive. Well, the company is finally getting some positive news which could lead to a recovery in the short term.
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It was announced this morning that a collaboration of FE Energy Group and Evergreen Clean Energy … Read the rest
Barclays came out with a few calls yesterday, maintaining its Equalweight rating on both Itron (ITRI) and American Superconductor (AMSC).
The firm has a $70 price target on ITRI which is about 15% higher than the current price. They are raising 2010 estimates from $3.35 to $3.65 and 2011 estimates from $3.67 to $4.06. Shares of ITRI are increasingly bullish in recent weeks, getting back above resistance of the 50 day moving average. In my … Read the rest
The US Navy continues to invest in the wave energy technologies of Ocean Power Technologies (OPTT) as part of their anti-terrorism and maritime surveillance program. The new award follows the successful completion of the first stage of a four-year $15.0 million project for the US Navy’s Littoral Expeditionary Autonomous PowerBuoy (LEAP) program during which OPT successfully completed delivery of the design and testing of a new power take-off system for its PowerBuoy wave energy system. … Read the rest
Tesla Motors (TSLA) announced a voluntary safety recall of 439 Roadsters (2, 2.5) due to a potential fire hazard involving a low voltage auxiliary cable. The company decided to issue the recall after the cable in a single vehicle rubbed against the edge of a carbon fiber panel, shorting out and smoking. The fix is a simple placement of a protective sleeve over the cable.
Shares aren’t moving on the news and are actually trading … Read the rest
Canaccord Genuity is out with a few ratings changes in the solar space.
The firm has upgraded JA Solar (JASO) from Hold to Buy and raised the price target nearly 50% to $11. Shares are falling another 3% today despite the upgrade indicating the stock is a bit tired following a torrid run.
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Both Suntech (STP) and Sunpower (SPWRA) were downgraded from Hold to … Read the rest
Wunderlich Securities rates American Superconductor (AMSC) a Buy and has a $50 price target which would represent a nearly 70% move up from current levels. The firm notes that the company has significant cash reserves and no debt. Shares of AMSC continue to remain in basing pattern and are now testing resistance of the 200 day moving average.
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Wunderlich is also bullish on shares … Read the rest