The bloodbath in shares of US solar leader First Solar (FSLR) continued today as news that CEO Rob Gillette is out hit the Street and shares fell off a cliff mid day, ultimately ending down 25%. It’s the lowest point for the stock since early 2007. Ouch.
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Former CEO and current Chairmen Mike Ahearn will step in at CEO until a permanent replacement is found. … Read the rest
Yesterday, the solar industry got a jolt of good news when Yingli Green Energy (YGE) reported in an article over at Bloomberg that it’s seeing a surge in sales in Germany and an acceleration in Italy. Solar pricing has dropped so low (40% drop in panel prices) that developers are seeing the opportunity for significant returns on investment and jumping back in.
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“There’s a big … Read the rest
After the bell yesterday STR Holdings (STRI) announced it expects revenues in line with previous announced forecasts, but cautioned that non GAAP EPS could be a few cents lower than previous thought and is withdrawing its previously published annual guidance. The company will announce official results Nov 2nd and at that time will issue full year guidance.
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“As we advised during our second quarter earnings … Read the rest
It’s been a good start to October for Satcon Technology (SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market. A week ago the company announced a 40MW deal with Q-Cells and this morning announced a 35MW deal with Borrego Solar. Borrego will utilize the entire suite of Satcon products for various projects which include military, commercial and utility installations over the course of the next year.
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First Solar (FSLR) has been in a vicious slide and it’s not getting any better this morning with Ticonderoga’s Paul Leming cutting the stock to Sell from Neutral and slashing the price target from $117 to $40. The stock was down over 6% yesterday and another 3% in premarket trading. The call is a bit late don’t you think Paul?
Leming made the call because he sees an acceleration to the downside in both pricing … Read the rest
SunEdison, which is a subsidiary of MEMC Electronic Materials (WFR), announced it has sold another 33MW in solar systems in Italy and Spain to German investment company KGAL. KGAL purchased 20MW last quarter bringing the total to 53MW which WFR will continue to maintain and operate under long term agreements.
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Pancho Perez, General Manager of SunEdison for Europe, Middle East, North Africa and Latin America commented, … Read the rest
The good news out of the green energy space has been few and far in between for many months now, but today Satcon Technology (SATC) which is a leader in utility scale solar power conversion solutions, was selected by Q-Cells North America to supply 40MW of their Prism Platform solution for the big Starwood project in Ontario.
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The company needed some good news. That stock has … Read the rest
It seems a bit ridiculous, but rules are rules I suppose. First Solar (FSLR) may miss out on a big DOE loan guarantee for its Topaz Solar Farm because they won’t get all the paper work and requirements completed by the September 30th deadline. The government approved the conditional loan June 30th, but it didn’t give FSLR enough time. Yet another major misstep in Obama’s green energy initiatives to go along with the Solyndra disaster. … Read the rest
In an article over at Bloomberg, it was announced that First Solar (FSLR) will begin incorporating record breaking thin film solar cell technology into its manufacturing process next quarter in order to better compete with its Chinese rivals. The company developed a cell that can convert at 17.3% and they believe they can get 15.3% from these cells in mass production. That’s quite a jump from the 11.7% efficiency the company has been averaging. … Read the rest
About two weeks ago Mark Bachman of Avian Securities sent out a research report indicating that the train wreck taking place in the solar industry appears to be almost over and that he’s backing off his negative industry view a bit.
The recommended trading strategy is to focus on the best solar stocks with an intent to sell in Q4. You could call it trading an oversold bounce. The firm notes that it’s not recommending … Read the rest