Earlier today, I posted about A-Power Energy’s (APWR) shipment of a prototype wind turbine to the US and mentioned it was a great time to consider getting long APWR. While APWR is better known for its wind turbine business, they have construction operations in a variety of industries.
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In after hours trading, we have another reason to get long. The company has won a … Read the rest
It’s been a long time since we’ve heard any news regarding the controversial 600MW wind farm in Texas in which China based A-Power Energy (APWR) owns a large portion, but yesterday the company announced it has shipped a 2MW prototype wind turbine to Texas to be installed and tested.
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Mr. Jinxiang Lu, A-Power’s Chairman and CEO commented, "We are very excited to announce … Read the rest
General Electric (GE) has already established a presence in the China wind energy market, supplying them with nearly 1000 wind turbines and today the company is announcing it will be a bigger player after securing a joint venture deal with a subsidiary of Harbin Power Equipment. The venture between the two companies will manufacture GE designed turbines for onshore and offshore wind farms. Harbin will be the majority owner with a 51% stake.
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According to Fly On the Wall, China Wind Systems (CWS) has updated guidance and sees FY10 EPS in the range of 62 – 65c vs the estimate from one analyst of 42c. They see revenues about inline with the estimate of $80 million at $76.5 – $85 million.
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Shares of CWS are not moving on the update, but do look increasingly bullish … Read the rest
It’s been a rough few weeks for shares of Power One (PWER) as the stock continues to correct after a huge run in the past year, but is seeing some buy interest this morning after it was announced that management has approved a 10 million share buyback program. It’s authorized for two years and begins immediately.
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"This repurchase program highlights the confidence we have in … Read the rest
A few analyst rating changes to tell you about today.
Bank of America (BAC) is maintaining its Buy rating on Cree Inc (CREE) and increased 2012 EPS estimates to $3.21 per share. Shares of CREE are holding the flat line today despite a healthy down day in the overall market.
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Morgan Joseph began coverage of Andersons (ANDE) with a Buy rating and $48 price target. … Read the rest
A-Power Energy (APWR) reported Q2 results this morning and missed analyst estimates for both EPS and revenue. The company reported a non GAAP EPS of just $0.02 versus the analyst estimate of $0.14 on revenue of $74.8 million, vs the estimate of $94.22 million. While that’s good for an increase in revenue of 31% over the year ago quarter, EPS fell 85%.
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On the bright … Read the rest
China Wind Systems (CWS) has announced a new $4.5 million contract to supply over 2K tons of forged rolled rings to Luoyang Xin Qiang Lian Bearing by September 30th of this year. Luoyang makes wind turbine components.
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“We are pleased to enter into a supply contract with Xin Qiang Lian, which further validates our product’s high-quality and performance,” said Mr. Jianhua Wu, Chairman and CEO … Read the rest
American Superconductor (AMSC) continues to expand its business in India. The company announced a $20 million order back in April from Ghodawat Energy. This morning they have announced an order from India based Inox Group for 17 sets of wind turbine electrical control systems for 2MW turbines. Inox began licensing AMSC wind turbine designs last year and recently began volume production of the 2MW turbines. No word on the financials of this deal.
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American Superconductor (AMSC) announced earlier today that it acquired a 25% stake in UK based Blade Dynamics, a designer and manufacturer of advanced wind turbine blades for $8 million in cash and will gain one seat on the Board. Blade Dynamics designs increase efficiency and performance of high power wind turbine blades. Dow Chemical (DOW) also purchased a minority stake in the company.
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AMSC CEO … Read the rest