Solarfun (SOLF) reported another big quarter of growth and smashed analyst estimates in the process. It appears the company is quietly emerging as a top China solar play while companies like Suntech Power (STP), Trina Solar (TSL) and JA Solar (JASO) garner much of the attention. SOLF reported a non GAAP EPS of .59/share, which was more than double the analyst estimate of .25/share. Revenues were impressive too coming in at $258 million vs the … Read the rest
Category Archives: Solar Energy
Evergreen Solar (ESLR) Reports Mixed Results; China Operation On Track
Evergreen Solar (ESLR) is a company that has always needed to find a way to cut costs and time is running out as I’ve mentioned so many times before on this blog. The success of this company really hinges on the success of their China outsourcing operation which is proceeding as planned. For now, the company is still nowhere near profitability. While revenues continue to climb higher and improve over the year ago quarter, earnings … Read the rest
EMCORE (EMKR) And San’an Optoelectronics Begin Joint Venture To Produce Concentrator PV Products
EMCORE just announced that it has entered into a joint venture with San’an Optoelectronics to develop, manufacture and distribute concentration photovoltaic receivers, modules and systems. EMCORE will own 40% of the JV company, which will be called Suncore Photovoltaics Co., Ltd. San’an Optoelectronics will own the remaining 60%. The new company will set up its manufacturing facilities in Wuhu City, China, to take advantage of incentives provided by the city government.
Wunderlich, Credit Agricole Slash WFR Rating, But Ardour Capital Upgrades After Earnings
As I reported last night, MEMC Electronic Materials (WFR) reported disappointing earning results once again sending the stock plummeting today below key resistance around the $10 level. It is currently trading at levels not seen since 2004 and assuming it closes below the $9.51 level today, the next level of support doesn’t come into play until you get closer to $8.
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A few analysts have … Read the rest
Auriga Reiterates Buy On First Solar (FSLR), Raises PT To $175
Auriga remains quite bullish on First Solar (FSLR) following last night’s earnings report, reiterating their Buy rating and raising the price target to $175. The firm believes it’s separating itself from the competition by continuing to drive costs lower. During the quarter, manufacturing costs declined by 6% over the previous quarter and 13% year over year. While they indicate some negatives on the conference call, overall Auriga believes the positives far outweigh the negatives. They … Read the rest
GT Solar (SOLR) Adds LED Manufacturing With Purchase Of Crystal Systems
GT Solar (SOLR) has made a very interesting move this morning. The company is diversifying its manufacturing operations and adding LED manufacturing to its solar ingot manufacturing business. Smart move. They purchased privately held Crystal Systems of Salem, MA which manufacturers large area sapphire substrates used in LED lighting, defense, medical and aerospace industries.
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GT Solar is paying $24 million in cash, 5.4 million shares … Read the rest
Power One (PWER) Beats With Big Growth Again, Shares Up Over 15%
Power-One (PWER) continues its tear over the past year with the stock vaulting 10-fold in that time. It’s not done yet. The stock is up over 15% in after hours trading after the company beat estimates by a wide margin, posting huge quarter over quarter growth once again. They reported a Q2 EPS of .17/share, .07 better than analyst estimates on revenues of $215 million which also beat analyst estimates ($186 million). That’s a 325% … Read the rest
First Solar (FSLR) Beats & Raises, But Shares In The Red
First Solar (FSLR) beat estimates by a wide margin after the bell today, posting an EPS of 1.84 vs the analyst estimate of 1.60 on revenues of $588 million vs the analyst estimate of $542 million. However, it represents the first quarter in which FSLR has posted decelerating quarter over quarter profit growth in many years if ever. While revenues maintained growth jumping about 10% over the year ago quarter, profits fell about 13% over … Read the rest
MEMC Electronic Materials (WFR) Struggles Again – Misses & Guides Lower
MEMC Electronic Materials (WFR) just can’t seem to get it going. Just when you think they are ready to turn the corner, they turn in another disappointing quarter and today was no exception. Despite a few firms coming out with bullish calls on WFR in recent days (Barclays, Gleacher & Kaufman Bros), the company missed on EPS posting results that were .03 lower than what analysts expected with .06. Revenues misses as … Read the rest
DayStar Technologies (DSTI) Finds A Cash Infusion, Issues Investors Note/Warrant
DayStar Technologies (DSTI) is just trying to stay alive and still in desperation mode it would appear. The company announced it has entered into Purchase Agreements with investors who have loaned the company cash to fund ongoing research and operations. In exchange for the loans, the company issued each investor a secured convertible promissory note and a warrant to purchase shares of the common stock at an exercise price of 1.25/share. The notes are convertible … Read the rest