Bloomberg reports that short selling in green stocks has been increasing and is nearly four times the short selling in the S&P. In November, 17% of shares in the 35 stocks that make up the Wilderhill New Energy Index are sold short, up from 16% last month and 15% in September. That compares with the 4.4% short ratio of the stocks that make up the S&P.
Among the most heavily shorted stocks are Zoltek (ZOLT) … Read the rest
Trina Solar (TSL) as expected has posted impressive Q3 results this morning, but it’s not enough and the stock is trading down more than 5%. The company reported an an EPS of $1.08/share which is well ahead of the analyst estimate of .87/share on revenues of $508 million vs the analyst estimate of just $420 million. Solar shipments came in much better than the previous estimate of 250 – 260MW at 290MW and gross margins … Read the rest
Here’s a run down of today’s green stocks analyst calls…
(via Benzinga) Axiom Capital pointed out an article over at the Financial Times (in German) that discussed the potential of additional solar subsidy cuts in Germany due to increasing electricity rates associated with the boom in solar installations. Nothing set in stone yet, just proposals. Solar stocks have been slammed in recent weeks and were down another 2% today (solar ETF TAN).
JP Morgan … Read the rest
Auriga is out this morning maintaining its Buy rating and raising the price target to $38 on Trina Solar (TSL) ahead of its earnings report next Tuesday. They believe the company has been selling at higher prices and higher volumes than the Street predicts to finish out 2010 and that 2011 will be stronger than expected as well.
==> Click Here For Your FREE Daily Trina Solar Technical Analysis Report
The firm believes the company … Read the rest
Auriga is out with a research report on Sunpower (SPWRA) this morning following the recent analyst day and the firm is maintaining its Hold rating on the company, but lowering the price target a bit from $12 to $11. Here are the highlights..
– Operating cash flow expected to be much improved, but results have yet to be proven
– Lowering non GAAP EPS estimate due to lower margins from $1.28 to $1.25/share
– Sales … Read the rest
Auriga issued reports on both Solarfun (SOLF) and Yingli Green Energy (YGE) and remain bullish on both.
They are maintaining the Buy rating on Yingli Green Energy (YGE) but reducing the price target a bit from $15 to $13 because the firm believes margins may be peaking. However they believe the Fine Silicon depreciation and Panda expansion costs are overblown and believe the company will continue to gain market share. Shares of YGE traded down … Read the rest
The number of bearish solar analysts have been growing lately with many of them concerned about supply rapidly outpacing demand for 2011, but I’d have to agree with Motley Fool that if you believe anything the CEO’s of the solar companies are saying, demand will continue to be strong. Granted, many of these solar firms are continuing to ramp capacity at an extraordinary pace, which exposes them to significant risk. I’m probably somewhere in the … Read the rest
Yingli Green Energy (YGE) reported strong results this morning well ahead of analyst estimates sending the stock up about 4% on the day. The company reported a non GAAP EPS of .53 vs the analyst estimate of .36/share on revenues of $491 million vs the analyst estimate of $477 million. That represents quarter over quarter EPS and revenue growth of 194% and 32% respectively. Gross margins came in higher than the previous estimate of 31 … Read the rest
I meant to get this out yesterday, but battling a nasty cold so sleep was a priority. Anyhoo Canadian Solar (CSIQ) reported better than expected results, beating on both the EPS and revenue side. The company reported an EPS of .47/share vs the analyst estimate of .43 on revenues of $377 million vs the analyst estimate of $347 million. The EPS number is 32% lower than the year ago quarter, but that was a … Read the rest
According to Reuters, Yingli Green Energy (YGE) has signed a deal to build a $435 million solar manufacturing plant with a local partner within the next year. South Africa also signed an agreement with China Development Bank to partner on green energy projects.
Shares of YGE are up about 4% in premarket, but are technically broken having busted through key support levels in recent days.
==> Click Here For Your FREE Daily Yingli Technical … Read the rest