There have been a few analyst calls in the past couple days I want to review here, mostly in the solar space.
Upgrades/Bullish
Yesterday, Trina Solar (TSL) was added to Morgan Stanley’s Long Research Tactical Idea list and initiated with a Buy over at Soleil, saying the firm has one of the strongest balance sheets in the industry. The stock moved a bit yesterday on the bullish calls, but really took off today, up another … Read the rest
China BAK Battery (CBAK) is announcing this morning that it has won a new lithium battery contract with China’s leading e—bike manufacturer Geoby Electric and expects to win another supply deal should initial testing be successful. They will initially supply 1000 batteries. No word on the total value of the deal.
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"As the electric vehicles industry continues to experience significant growth, there is … Read the rest
According to Benzinga, Deutsche Bank sees A123 Systems gaining significant market share of the lithium battery market based on achievement so far and comments from OEM’s and competitors that say AONE is a top 3 lithium battery supplier. They see general consumer demand for EV’s and improving margins as potential catalysts for the stock over the next year. The firm has a Buy rating and $17 price target which is about double the current … Read the rest
Ener1 (HEV) has announced plans to restructure into three segments to better capitalize on opportunities and increase efficiency – transportation, utility grid and small format products. Each segment will have its own president with changes applied across the world.
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"We have moved to match our functional structure with the growing differentiation and segmentation within this highly dynamic industry," said Ener1 Chairman and CEO Charles Gassenheimer. … Read the rest
It’s been a little over a year since A123 Systems received a $249 million grant from the DOE, and today the company announced the grand opening of its Livonia, Michigan lithium-ion battery plant. The plant is the largest lithium-ion battery manufacturing facility in North America, and is expected to boost the company’s manufacturing capacity by up to 600MW hours annually. The opening of the new plant puts A123 on target to achieve its annual cell … Read the rest
A couple days ago, I highlighted the emergence of Altair Nanotechnologies (ALTI) and mentioned Valence Technology (VLNC) may be next. Carl Berg recently purchased 7 million shares, the technicals have improved and perhaps some news was coming. There is news this morning that could get the stock going again and above the 200 day moving average.
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The company has announced a multi-year supply agreement with … Read the rest
In recent days, Altair Nanotechnologies (ALTI) has surged, doubling in just 3 trading days with huge buy volume. I’m not seeing any news or upgrades that would account for this move, so maybe the news is coming. If you have an idea of why the surge is taking place in ALTI feel free to leave a comment below. Another speculative lithium battery stock that may be primed and fueled for surge is Valence Technology (VLNC). … Read the rest
Ener1 (HEV) announced this morning that it will sell $55 million of senior unsecured notes and common stock/warrants to certain investment funds as well as $10 million in senior convertible notes to partner ITOCHU Corporation. The company will use the funds for general purposes and manufacturing expansion to accommodate 11K battery packs at its facilities in Indianapolis.
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“Ener1 has heavily invested in expanding its global … Read the rest
Hoping to increase adoption of its lithium-titanate battery systems, Altairnano just announced the release of an application kit that will allow OEMs to test the product in simulated real-world operating conditions.
The application kit will consist of a 50 ampere-hour battery module, connection and control unit and a netbook computer for controlling and monitoring the system. It will allow OEMs to test a variety of voltage and amperage configurations.
Ener1 (HEV) continues to post significant increases in revenues, but remains mired in red ink. The company reported another big jump in revenues and beat the analyst estimate of $15.4 million, posting $16.1 million, but profits remain elusive. The company reported an EPS of -.12, vs the estimate for a -.11/share loss. That was inline with what they reported last quarter and worse than the .11 loss they reported in the year ago quarter. Granted, … Read the rest