Shares of Comverge (COMV) will likely come under further selling pressure tomorrow morning on news the company has filed a shelf registration statement with the SEC which permits the company to offer and sell up to $100 million in securities. While the company has no immediate plans to offer shares, it gives them the flexibility to raise cash quickly should the need arise. Considering COMV took out support of the 50 day moving average today, … Read the rest
Category Archives: smart grid
Piper Jaffray Upgrades Echelon (ELON): "Duke Contract Raised Company Profile"
Piper Jaffray is upgrading Echelon (ELON) this morning following the big Duke Energy (DUK) contract announced yesterday. The firm is upgrading the company from Underweight to Neutral and is raising the price target from $6 to $10.
Hat tip to StreetInsider.com for the following analyst comment:
Piper analyst says, “Echelon announced a framework agreement with Duke Energy (NYSE: DUK) that includes an initial order for 120,000 smart meters and data concentrators and Ohio; … Read the rest
Echelon (ELON) Rocketing Higher On Duke Energy (DUK) Smart Grid Deal
Echelon (ELON) is rocketing higher this morning after the company announced it will be the long term supplier for Duke Energy’s (DUK) smart grid system to be deployed initially in Ohio with smart grid expansion plans in Indiana as well. The company provides electricity to 4 million customers across North & South Carolina, Indian, Ohio and Kentucky and is the nation’s 3rd largest utility. The company has received regulatory approval to deploy their smart grid … Read the rest
Comverge (COMV) Gets Buy Rating From Ardour Capital
Ardour Capital upgraded Comverge (COMV) this morning from Accumulate to Buy and raised the price target to $17.
Hat tip to StreetInsider.com for following analyst comment:
“COMV’s 2Q09 revenues were in line with our estimates and the Company is on track to meet FY09 targets. We are impressed with COMV’s progress in the build-up of its megawatts under management portfolio. In our view, strategic partnerships put COMV in a strong position to drive future growth.” … Read the rest
Consolidated Edison (ED) Rolls Out Smart Grid Test
New York’s Consolidated Edison just announced that it is planning a smart grid test program in Northwest Queens. Approximately 1,500 customers will receive smart meters as part of the demonstration. Consolidated Edison will also work with City University of New York to study how to best distribute solar energy from rooftop installations to the power grid. In addition, the project will examine ways to monitor and improve power distribution and correct problems more quickly, and … Read the rest
Tobin Smith Recommends 3 Green Stock "Hidden Gems"
I just came across an article written over a month ago by well known investment “guru” Tobin Smith, highlighting three “hidden gem” green stocks. The article highlights Itron (ITRI), VMware (VMW) and Echelon (ELON) as companies that could benefit big in the coming green energy revolution. Itron (ITRI) may be relatively unknown to the average investor, but considering it’s the big guy in the smart grid space, it’s quite well known to those with … Read the rest
GE CEO Immelt & John Doerr: "US Falling Behind On Green Energy"
Yesterday in the Washington Post, General Electric (GE) CEO Jeff Immelt and famed venture capitalist John Doerr wrote an op ed piece highlighting the failure of the US to take the lead in green energy and the emergence of China as the leader.
Some interesting facts:
– China cars are 35% more fuel efficient
– they spend 10x what the US does as a % of GDP on green energy
– China on track to … Read the rest
Enernoc (ENOC) Under Pressure AH On Proposed Stock Offering
EnerNOC (ENOC) is off after hours following the announcement that it has filed a preliminary prospectus with the SEC to offer up to 3,750,000 shares of common stocks with proceeds being used for biz expansion, strengthening its working capital position, future acquisitions and R&D. Considering the run the stock has had, the move isn’t much of a surprise. ENOC will offer 3 mill of shares and certain shareholders will offer the rest. … Read the rest
Echelon (ELON) Poised For Breakout, Beats & Issues Strong Guidance
I think Echelon (ELON) is a stock to watch this morning. We’ve seen other demand response/smart grid players (with the exception of Itron) such as EnerNoc (ENOC) and Comverge (COMV) take off like a rocket and now it may be Echelon’s turn. The company beat estimates last night by .06/share, posting a narrower loss of .23/share. Revenues also came in better than expected at $22.60 mill vs the $21.8 analyst expected. Guidance is a bit … Read the rest
Itron (ITRI) To Deploy Water & Electrical Smart Meters For Glendale Water & Power
Along with its earnings report today which beat expectations, Itron (ITRI) has announced a contract with California’s Glendale Water & Power to provide them with smart metering technology for both its water and electricity operations. No word on the financials but Glendale serves 120K customers. Itron’s OpenWay advanced metering system provides a two way communication between the meter and the utility, providing for data collection, use limitations, outage detection, remote metering and home networking … Read the rest