JANCO is upgrading Energy Conversion Devices from Market Perform to Accumulate but cut the price target from $72 to $45
The firm said, “Although not immune to the difficult macro environment, ENER’s focus on BIPV with its flexible substrate thin films should put the Company on a relatively strong footing. While not changing our estimates for FY2009 and FY2010, we are bringing the multiples more in line with the rest of the group.”
Shares up … Read the rest
Yingli Green Energy (YGE) has secured a long term supply of polysilicon from Wacker Chemie which will supply Yingli with enough polysilicon to produce 380MW from 2010 to 2017
“Our business cooperation with Wacker Chemie, established in 2003, has developed over the years on the basis of the two parties’ long-term views of each other and of the PV industry. As of today, we have secured seven mid- to long-term virgin polysilicon supply agreements with … Read the rest
Here are some analyst notes in the solar notes that came out during trading today:
* Piper Jaffray downgraded CSIQ from Buy to Neutral, lowered estimates and cut the price target from 30 to 11 on euro weakness and supply chain dislocation
* Piper Jaffray also cut the price target and lowered estimates on Yingli Green Energy (YGE) but maintained their Buy rating. Price target lowered from $26 to $15
* Piper Jaffray cut estimates … Read the rest
GT Solar (SOLR) reported great results again after the bell today, beating analyst EPS estimates by 5 cents a share, reporting .19/share (good for a 110% increase over the year ago quarter). Revenues came in much better than expectations as well at 140.2 million, good for an 84% increase over the year ago quarter. 2008 is expected to be the first profitable year in company history and 2009 is expected to be even better with … Read the rest
Real Goods Solar (SOLR) reported another quarterly loss after the bell today of .01/share, the same as the year ago quarter but on a 141% jump in revenue over the year ago quarter due to organic growth and acquisitions
“We are pleased with the sales growth and operating results we achieved in the third quarter. Despite a very soft economic environment and uncertainties surrounding the extension of the Federal Investment Tax Credit, which we were … Read the rest
Akeena Solar released its 3rd quarter results today. The company saw an increase in sales over the past year, with net sales up to $10.60 million compared to $8.1 million in the third quarter of last year and $7.1 million in the second quarter of this year. Commercial installations are up tremendously, having doubled from the second quarter of this year and quadrupling compared to last year’s 3rd quarter results. Residential installations are increasing … Read the rest
Sunpower (SPWRA) is off about 20% this morning after reducing its 4Q and 2009 earnings forecast due to currency fluctuations. The company indicated that due to changes in its global tax planning it has greater exposure to the euro which has been hit hard over the last couple months and will hit the company with a $17 million revenue loss in 4Q… Read the rest
Second quarter financial results are in for American Superconductor Corporation. The company set a record for itself on revenue, earning $40.4 million. That’s an 87 percent increase over this time last year. Net loss was $4.1 million, or $0.10 per share, which compares favorably to last year’s second quarter net loss of $6.7 million, or $0.17 per share. EBITDAS were were a positive $1.1 million, compared to an EBIDTAS loss of $2.3 million this … Read the rest
ReneSola announced that it has secured additional credit lines from two of the largest bank in China, Industrial and Commercial Bank of China and Agricultural Bank of China. This gives ReneSola additional credit of RMB1.06 billion for total available credit lines of RMB2.8 billion.
ReneSola also released an update on its production capacity expansion. The company recently added 90 MW of production capacity for multicrystalline ingot and wafers and 35 MW of capacity production capacity … Read the rest
ReneSola (SOL) has announced that it has secured additional credit lines from two of China’s largest banks to the tune of RMB1.06 billion.
The company is also announcing that it has completed 90 MW of multicrystalline ingot and wafer capacity and an additional 35 MW is on schedule bringing the total annualized monocrystalline ingot and wafer production capacity to 325 MW and the multicrystalline capacity to 250 MW. With the delivery of an additional 70 … Read the rest