Needham & Company is reiterating its Buy rating on Comverge (COMV) and price target of $14 after the company reported earnings last night. Hat tip to Street Insider for the analyst comments.
“We continue to view Comverge’s momentum in US residential (along with its improving presence in C&I) as vital to maintaining its position among the elite in the evolving demand response space. Further, we hold a positive view of the company’s growing turnkey … Read the rest
As I reported last night, MEMC Electronic Materials (WFR) reported disappointing earning results once again sending the stock plummeting today below key resistance around the $10 level. It is currently trading at levels not seen since 2004 and assuming it closes below the $9.51 level today, the next level of support doesn’t come into play until you get closer to $8.
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A few analysts have … Read the rest
Auriga remains quite bullish on First Solar (FSLR) following last night’s earnings report, reiterating their Buy rating and raising the price target to $175. The firm believes it’s separating itself from the competition by continuing to drive costs lower. During the quarter, manufacturing costs declined by 6% over the previous quarter and 13% year over year. While they indicate some negatives on the conference call, overall Auriga believes the positives far outweigh the negatives. They … Read the rest
GT Solar (SOLR) has made a very interesting move this morning. The company is diversifying its manufacturing operations and adding LED manufacturing to its solar ingot manufacturing business. Smart move. They purchased privately held Crystal Systems of Salem, MA which manufacturers large area sapphire substrates used in LED lighting, defense, medical and aerospace industries.
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GT Solar is paying $24 million in cash, 5.4 million shares … Read the rest
Comverge (COMV) reported results that were inline with analyst estimates on the EPS side and a bit above on the revenue side. The company reported a non GAAP EPS loss of .39/share on revenues of $17 million vs the analyst estimate of a .39/share loss on revenues of $15.80 million. For a company that expects to break even to post a bit of profit next year, it’s got its work cut out. On the revenue … Read the rest
Power-One (PWER) continues its tear over the past year with the stock vaulting 10-fold in that time. It’s not done yet. The stock is up over 15% in after hours trading after the company beat estimates by a wide margin, posting huge quarter over quarter growth once again. They reported a Q2 EPS of .17/share, .07 better than analyst estimates on revenues of $215 million which also beat analyst estimates ($186 million). That’s a 325% … Read the rest
First Solar (FSLR) beat estimates by a wide margin after the bell today, posting an EPS of 1.84 vs the analyst estimate of 1.60 on revenues of $588 million vs the analyst estimate of $542 million. However, it represents the first quarter in which FSLR has posted decelerating quarter over quarter profit growth in many years if ever. While revenues maintained growth jumping about 10% over the year ago quarter, profits fell about 13% over … Read the rest
MEMC Electronic Materials (WFR) just can’t seem to get it going. Just when you think they are ready to turn the corner, they turn in another disappointing quarter and today was no exception. Despite a few firms coming out with bullish calls on WFR in recent days (Barclays, Gleacher & Kaufman Bros), the company missed on EPS posting results that were .03 lower than what analysts expected with .06. Revenues misses as … Read the rest
DayStar Technologies (DSTI) is just trying to stay alive and still in desperation mode it would appear. The company announced it has entered into Purchase Agreements with investors who have loaned the company cash to fund ongoing research and operations. In exchange for the loans, the company issued each investor a secured convertible promissory note and a warrant to purchase shares of the common stock at an exercise price of 1.25/share. The notes are convertible … Read the rest
Ocean Power Technologies just announced that it has been granted GBP 1.5 million by the South West of England Regional Development Agency to develop a new, improved 500 KW PowerBuoy.
Ocean Power Technologies will collaborate with A&P Falmouth and the Peninsula Research Institute for Marine Renewable Energy on the new PowerBuoy design, increasing output from 150kw to 500kw and making other improvements.
In a press release, Angus Norman, Chief Executive Ocean Power Technologies, Ltd., … Read the rest