Late yesterday shares of JA Solar (JASO) spiked lower out of the blue with no news being reported. Many are wondering what happened and of course the speculation is swirling. The rumors range from another “fat finger” event (aka accidental sell) to a short raid to imminent bad news. Whatever the reason it’s not going to give traders any confidence in shares of JA Solar for some time as shares continue to plunge lower and … Read the rest
Category Archives: Solar Energy
Daqo New Energy (DQ) Slashes Guidance, Shares Hold Steady
Daqo New Energy (DQ) is out this morning slashing guidance for Q2 due to fewer shipments across wafers and modules as well as declining ASP’s. The company now sees revenues in the range of $70 – $71 million vs the previous expectation for $92 – $95 million. They see poly shipments of 970 – 990MT, .7 MW of wafer shipments and 12MW of module shipments.
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JA Solar (JASO) More Than Doubles Internal Wafer Capacity With Silver Age Acquisition
JA Solar (JASO) continues to find ways to expand capacity. You might remember that back in February the company announced a 3 year, $2 billion expansion plan. This morning the company announced an acquisition of Virgin Islands based Silver Age Holdings for $180 million in stock. Silver Age owns a leading solar wafer producer in China with an annual solar wafer capacity of 485MW. The company also produces quartz crucibles which is a key material … Read the rest
First Solar (FSLR) Awarded All DOE Loans, The Bottom Is In
A couple days ago, shares of First Solar (FSLR) first indicated that a possible bottom to the correction was in place. Jefferies came out with cautious comments but also indicated that there was significant upside potential and traders bid up the stock. I mentioned the move could be a catalyst for a surge above the 50 day moving average. That was the case yesterday with the stock closing above the 50 day moving average for … Read the rest
Traders Bid Up First Solar (FSLR) Despite Mixed Jefferies Comments
Shares of First Solar (FSLR) continue to hang in around the $120 level and today got a much needed jolt higher above that level with volume. The move is a little surprising considering Jefferies came out with cautious comments on the company saying they believe they will lower guidance when they report earnings in August. Jefferies lowered Q2 estimates from $.94 to $.90 (below consensus of $1.00).
China Sunergy (CSUN) Announces Major Capacity Expansion To Produce Next Gen Solar Cells
Despite continued concerns about a solar slowdown in Italy and Germany across the solar industry, China Sunergy (CSUN) is forging ahead with a plan to increase solar cell capacity by con-investing $1.8 billion (RMB) in a 1GW expansion project. The first batch of 500MW is expected to be commercialized within a year. China Sunergy will be producing its newly developed Quasar cells with an increased efficiency of 18.85% and hopes to achieve 20% efficiency with … Read the rest
STR Holdings (STRI) Lowers Guidance, Shares Plummet
STRI Holdings (STRI) is hitting new 52 week lows this morning after the company lowered Q2 guidance. The company now expects revenues in the range of $98 – $101 million vs the previous expectation for $104 – $110 million. The lowered guidance is a result of lowered expectations for its solar business. Non GAAP EPS is also expected to come in lower at $.30 – $.32 vs prior guidance of $.38 – $.42.
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Westinghouse Solar (WEST) Soars On News It Will Unveil First Fully Integrated AC Solar Panel In Europe
Westinghouse Solar (WEST), formerly Akeena Solar (AKNS), is a company I discontinued coverage on for some time as the red ink continued (and continues) to flow, but yesterday the stock soared nearly 150% to nearly $2.50/share on news it will unveil the world’s first fully integrated AC solar panel at the Intersolar 2011 trade show in Germany in about a week. The new 235 watt panels feature an integrated frame as well as other enhancements … Read the rest
Jim Chanos At It Again, Bashing Green Energy: First Solar (FSLR) & Vestas Wind Systems (VWSYF)
Jim Chanos has been increasingly vocal about his bearishness on green energy, particularly solar. In April he was quite vocal about his short interest and the issues at First Solar (FSLR). According to the WSJ, he also highlighted Vestas Wind Systems (VWSYF) as a company that could go much lower. Both stocks continued lower today with First Solar taking out another key support area around the $120 level.
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Suntech Power (STP) About Matches Estimates Minus Forex Hit, But Revises Full YR Rev Guidance Down; Shares Bid Up Anyway
Not a bad earnings report out of Suntech Power (STP) last night. The company took a forex hit of about $30 million and when you take that out, the company just about matched the analyst estimate of .35/share. The company reported a .34/share gain minus the forex hit on revenues of $877 which were a bit above the estimate for $863. Gross margins hung in there at 19% which was just slightly below last quarter’s … Read the rest