A couple analyst notes out after the A123 Systems (AONE) earnings last night.
Janney Montgomery Scott maintains a Neutral rating, but lowers price target from $14 to $12. “AONE reported 1Q10 results that were in-line on the top line, while falling slightly short of consensus on the EPS line. We were surprised by the quarter-over-quarter drop in total shipments and are adjusting our shipment forecasts for slightly slower growth. On the positive side, the Company … Read the rest
A123 Systems (AONE) is giving back today’s gains and then some after reporting a wider loss than expected after the bell. While revenues were in line at $24.5 million, the company reported a loss of .28/share which was .06/share greater than expectations. That’s also a wider loss than the year ago quarter (.18/share loss) with revenues just 5% higher. A disappointing quarter from AONE for sure, but it’s all about the future.
===> Click Here … Read the rest
Janney Montgomery Scott upgraded Ener1 (HEV) from Sell to Neutral and has price target of $3.50. “The Company announced that Volvo has selected HEV as the exclusive supplier for its C30 battery-electric vehicle platform…However, we believe that at current levels, HEV’s stock fairly values the Company’s prospects.” Shares of HEV are down 4% today. Click Here For Your FREE Ener1 Analysis
Macquarie upgraded Energy Conversion Devices (ENER) from Underperform to Neutral. Shares recovering again today, … Read the rest
Ener1 (HEV) is still what I would call a development stage company, so the earnings reports aren’t as important as the news flow during the quarter. Let’s take a look and see how they did anyway. The company missed analyst estimates by a bit posting an EPS loss of .13 on revenues of $11 million. Those results are about in line with what they reported last quarter.
Advanced Battery Tech (ABAT) beat estimates after the bell today posting an EPS .04 cents better than analyst estimates at .11/share . Revenue for the quarter was $19.5 million, which compares to the estimate of $18.82 million. That’s nearly a doubling of revenues over the year ago quarter, but about in line with what they reported last quarter ($21.5 in revs). All in all, a nice a quarter from ABAT. It appears their electric bike … Read the rest
Ultralife (ULBI) has been awarded a total of $3 million from two New York state departments to advance the development of its lithium battery storage systems in wind turbine applications. Specifically, the funds will be used to demonstrate the technology in powering a wind turbine project planned for installation at the State University of New York At Canton next year. Ultimately, it will be one of the first battery integrated wind turbine projects in the … Read the rest
Lazard Capital noted that on Friday, the DOE’s big $528 million loan to Fisker Automotive for the development of its Karma and Nina electric vehicles closed. As the only battery supplier to Fisker, it represents a big opportunity for A123. Lazard maintains a Buy rating on the stock. On April 12th, Lazard confirmed that Chrysler will use A123 lithium batteries in its Fiat 500 line of electric cars which Lazard believes could be a … Read the rest
Advanced Battery Technologies just announced that it received $1.2 million worth of orders for new electric scooters at the company’s product promotion conference in China. The conference was held at the end of March. The $1.6 million figure is the total amount of the sales contracts signed with four different customers. The scooters will be delivered within the next year.
In a press release, Mr. Zhiguo Fu, CEO of ABAT, commented on the sales:
“The … Read the rest
Deutsche Bank is out with an upgrade of the most well known lithium battery maker here in the US. A123 Systems (AONE) gets an upgrade from Hold to Buy and a $17 price target. Hat tip to Street Insider for the following analyst comment:
“We believe that A123 Systems’ proprietary battery materials have broad applicability in a number of growing segments (including automotive, grid services, and consumer products), that the company’s recent steady cadence of … Read the rest
A123 Systems (AONE) is getting a bit of a pop this morning after Lazard Capital said that Chrysler has confirmed it will use A123 Systems lithium batteries for its Fiat 500 electric cars which are expected to hit the US market in 2012. Lazard believes this could potentially be a $100 million dollar deal. That seems a bit far fetched to me, but traders like it this morning sending the stock up about 4% in … Read the rest