Ascent Solar (ASTI) has announced the launch of its new line of high powered, thin film CIGS solar modules today. The WaveSol modules are the highest power 5 meter flexible thin film modules available today and are aimed at the commercial solar rooftop market. The company plans to showcase the product in October during the Solar Power International conference in Los Angeles.
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ASTI CEO … Read the rest
Canadian Solar (CSIQ) posted Q2 earnings results yesterday and Auriga is maintaining its Neutral stance on the stock since there is low visibility as to when the company can improve its margin structure. While there is expected improvement by Q4, the firm doesn’t have much confidence in the company’s ability to predict shipments. Should the margins improve as management has advertised, they may revise their 2011 estimates upwards significantly. Auriga see the stock as fairly … Read the rest
Jefferies reiterated its Buy ratings on Trina Solar (TSL), Yingli Green Energy (YGE), JA Solar (JASO) and Solarfun (SOLF) this morning. The firm believes more German & Japanese brands will source modules from China to cut costs. They believe JASO and SOLF will benefit the most while TSL and YGE may not be willing to manufacture for other brands. Shares of the China solar stocks are flat to down today after a nice run … Read the rest
Canadian Solar (CSIQ) reported results before the bell this morning and the results were much better than expected when you take out one time losses due to forex losses and internal audits. On a non GAAP basis, the company reported an EPS of .40/share on revenues of $328.7 million. That’s significantly ahead of the analyst estimates of an EPS at .15 and revenue at $306 million. The results were much better than the headlines would … Read the rest
JMP Securities is bullish on a few green stocks due to an expected increase in electricity demand which the firm sees sparking increased efforts to develop alternative energy solutions. They see good value in demand response players EnerNOC (ENOC) and Comverge (COMV) as well as US solar company Sunpower (SPWRA) and have an Outperform rating on all three.
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Analysts have weighed in on Itron … Read the rest
Auriga issued a research report this morning on Canadian Solar (CSIQ) heading into its earnings report tomorrow. While the firm has an upside bias, it doesn’t have enough conviction either way to make a definitive call so maintains its Hold rating with a $13 price target. Cmon Mark, go out on a limb! 🙂
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They see CSIQ missing Q2 EPS estimates with shipments coming … Read the rest
LDK Solar (LDK) announced this morning that it has filed an objection for arbitration before the China Intl Econ & Trade Arbitration Commission as well as a lawsuit to demand compensation from Canadian Solar (CSIQ) due to a breach of a 10 year supply agreement signed in 2008. Despite the news, shares of CSIQ are up nearly 3% today and trying to push above resistance of the 50 day moving average.
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I believe a healthy breakout in First Solar (FSLR) is on the way, but it’s difficult to say at this point which way it’s going to break. That’s Ok. Wait for a definitive move up or down out of the wedge formation and trade accordingly.
In the video below I highlight the technical action of FSLR and I have to apologize for the lack of sound quality! It’s my first video using a new version … Read the rest
Jefferies is out reiterating its Buy rating on shares of Yingli Green Energy (YGE) and has a $17 price target (more than 60% higher than current levels). The firm views YGE as a top solar player. Shares aren’t moving on the Buy reiteration in pre-market trading.
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Piper Jaffray upgraded shares of Codexis (CDXS) to Overweight from Neutral and raised the price target to $12 from … Read the rest
Energy Conversion Devices (ENER) reported results this morning that were better than analyst expectations, but the company remains deep in the red. The company reported a non GAAP EPS of .32 which excludes one time costs which compares to the analyst estimate of a .60/share loss. Revenues beat as well coming in at $86.2 million vs the estimate of $72 million. While that’s a 40% increase in revenue quarter over quarter, it’s a much steeper … Read the rest