A123 Systems (AONE) beat estimates after the bell yesterday, but the company remains a long ways off from being profitable and results were basically flat over the year ago quarter. The company posted an EPS loss of .22/share, which is a bit worse than the .19/share loss reported last year, but better than the .33/loss analyst expected. Revenues came in at $23.6 million which is better than the $19 million analyst estimate and a slight … Read the rest
Category Archives: Lithium Batteries
Advanced Battery Tech (ABAT) Reports Mixed Results, Shares Off 9% AH
Advanced Battery Tech (ABAT) reported mixed results after the bell today and traders aren’t all that thrilled. The stock has taking a beating since the August high and it’s getting hit again after hours, down about 9%. The company reported an EPS number of .08/share which missed analyst estimates of .09/share and was flat from the year ago quarter despite a 40% increase in revenues.
I still like this company longer term and this pull … Read the rest
Ener1 (HEV) Misses & Reports Another Big Loss, But It’s All About The Future
Ener1 (HEV) is a late next year story, so earnings don’t mean too much right now, but the company did miss on both EPS and revenues after the bell today. The company reported a loss of .14/share (vs analyst estimates of a .10/share loss) on revenues of $8.1 million (vs analyst estimates of $9 million).
CEO Charles Gassenheimer focused on the future..
“Ener1 has seen a substantial uptick in customer inquiries over the past three … Read the rest
Valence (VLNC) Announces Supply Agreement With EVI
Valence Technology, Inc just announced that it has signed a supply agreement to provide EVI with batteries for their electric trucks. The companies announced the deal at the Grand Opening Ceremony for EVI’s new Stockton, California plant.
In a press release, Robert L. Kanode, President and CEO of Valence Technology, commented on the deal:
“The Valence U-Charge energy storage systems offers EVI the flexibility to offer three distinctive electric trucks from class 4 (15,000 … Read the rest
EnerDel (HEV) To Develop Battery For Hybrid Humvee
Enerdel, a a subsidiary of Ener1, just announced that they have received a contract from the Army worth $1.29 million to develop improved lithium-ion battery packs for the hybrid Humvee. Under the contract, EnerDel will work with the U.S. Army Tank Automotive Research, Development and Engineering Center (TARDEC) to create 4 different power systems using two different battery chemistries.
In a company press release, EnerDel’s president Rick Stanley commented on the contract:
“This is … Read the rest
Ener1 (HEV) Gets Buy Rating From Deutsche Bank: "Technology Highly Regarded"
Deutsche Bank is initiating coverage on Ener1 Inc. (HEV) this morning with a Buy rating and price target of $11.
Hat tip to StreetInsider.com for the following analyst comment:
“Ener1’s technology is highly regarded, it has a strong management team, and we expect it to have similar capacity to its primary US competitors (i.e., JCI, A123, LG Chem) through mid-decade. Most importantly, the company has contracts that should generate an annual run-rate of $150+ million … Read the rest
Morgan Stanley, BofA, Deutsche Bank Initiate Coverage On A123 Systems (AONE)
The coverage is beginning to come out on A123 Systems (AONE) and the first round is generally positive with some bullish comments coming out of Deutsche Bank.
Bank of America initiates with a Hold rating and $17 price target.
Morgan Stanley has initiated coverage an Equalweight which I assume is similar to a Hold rating.
Deutsche Bank initiates coverage with a Hold rating and price target of $17.
Hat tip to StreetInsider.com for the following … Read the rest
A123 Systems (AONE) Signs Joint Marketing Agreement With IHI Corporation
A123 Systems just announced that they have signed a joint marketing agreement with IHI Corporation, one of Japan’s largest manufacturers of heavy industry equipment. Under the agreement, the two companies will work together to seek out new energy storage customer opportunities in the Japanese market. The agreement is significant for A123 because IHI is a such major player in the Japanese market, with clients that include big names like Toyota, Honda,
Nissan, Mazda, Suzuki and … Read the rest
Valence Technology (VLNC) To Supply Tennant (TNC) With Lithium Batteries
Valence Technologies (VLNC) announced this morning a two year supply deal with Tennant (TNC) for its lithium phosphate batteries to be used in Tennant’s new compact floor scrubber. The lithium powered scrubber will be tested next month with full production scheduled a few months later. No word on the financials of the deal.
“Growing acceptance of our safe lithium phosphate energy storage solutions across industrial applications reflects the performance, reliability, flexibility and immediate availability of … Read the rest
Valence (VLNC) To Sell Stock To Seaside 88
Valance Technology just announced a deal with private equity firm Seaside 88, according to this article in the Austin Statesman. Under the terms of the deal, Seaside will buy up to 16.9 million shares at a discount from Valence over the next year. Seaside 88 purchased 650,000 shares on Thursday. The deal gives Valence a much-needed cash infusion.
In the Statesman article, Valence co-founder and chairman Carl Berg, who has been largely meeting the cash … Read the rest