I didn’t see any news today that would account for a 22% move with near record volume, but Akeena Solar (AKNS) did breakout today, surging off the 50 day moving average as it appears big traders continue to build positions. Today’s momentum likely carries AKNS to the 200 day moving average around 2 and potentially beyond in the coming weeks. Perhaps it’s following that other solar installer stock Real Goods Solar (RSOL) which has more … Read the rest
Tag Archives: akeena solar
Akeena Solar (AKNS) Begins Shipping Andalay AC To Nationwide Sales Channel
Akeena Solar (AKNS) is announcing today that it has begun shipping its Andalay solar power systems directly to installers throughout the US including Colorado, Connecticut, Delaware, New York and Washington.
“We’re excited to have innovative solar installers eager to bring Andalay AC panels to even more homeowners and businesses. The distribution success follows the recent announcement of a nationwide, two-year mutually exclusive partnership between Akeena Solar and MS Solar Solutions Corp. (“MSSS”), a subsidiary of … Read the rest
Class Action Lawsuit Filed Against Akeena Solar (AKNS)
On Monday, one of Akeena Solar’s investors filed a class action lawsuit against the company. The lawsuit alleges that the way Akeena Solar disclosed information about itself violated the law, and potential members of the class include anyone who bought stock in the company from December 26, 2007 through March 13, 2008. Here’s more from a press release about the lawsuit, including the deadlines, contact info, and the rationale behind it:
Deadline: July 17, 2009. … Read the rest
Akeena Solar (AKNS) Shows Little EPS Improvement, But Revenues Weak
Akeena Solar (SOLR) reported earnings this morning and the silver lining is that they didn’t burn through cash as quickly as they had in previous quarters. That’s about it. They reported an EPS loss of .17/share which is one cent worse than expectations and one cent worse than the year ago quarter. The company has been cutting costs to get to the cash flow break even point but has a ways to go. The most … Read the rest
Akeena Solar (AKNS) To Supply MS Solar Solutions Corp With Solar Panels
Akeena Solar just announced that it has entered a supplier relationship with MS Solar Solutions Corp, a subsidiary of Morgan Stanley. Under the agreement, Akeena Solar will provide MS Solar Solutions with its Andalay AC panels and grant the company a royalty-bearing limited license to manufacture and sell them. MSSS Solar Solutions will use those panels in its efforts to help low-income households across the country get solar power. Akeena Solar will be MSSS’ exclusive … Read the rest
Losses Keep Mounting For Akeena Solar (AKNS)
Another awful quarter for Akeena Solar (AKNS) which continues to pile up losses with profitability nowhere in sight. Akeena Solar reported a Q4 loss of $0.32, versus the analyst estimate of ($0.17). Revenues for the quarter were $10.9 million, versus the consensus of $11.53 million. That’s about a 60% increase in the EPS loss over the year ago quarter with a minor bump in revenues. This is a company that better stop the bleeding in … Read the rest
Akeena Solar (AKNS) To Develop AC Solar Panels
Akeena Solar (AKNS) and Enphase Energy have announced a partnership to develop and market the Andalay solar panel systems using ordinary AC house current output instead of high voltage DC output which are expected to cost less to install and provide higher performance than DC panels. Under the agreement, AKNS will purchase a minimum of 5000 microinverters in 2009 & 2010 which will be built into Akeena’s award winning Andalay solar panels.
AKNS estimates that … Read the rest
Akeena Solar (AKNS) Announces Completion Of San Francisco’s Largest Commercial Solar Power Installation
Working with Solar Power Partners, Inc, Akeena Solar announced the completion of a 385-kilowatt solar power installation in San Francisco. The system is San Francisco’s largest commercial solar power installation to date. Akeena Solar provided the system itself, and Solar Power Partners developed and financed the project. Solar Power Partners will also operate the system and sell the power it generates to the site owners.
Barry Cinnamon, Akeena Solar’s CEO, commented on the installation:
… Read the restAkeena
Akeena Solar (AKNS) Lowers 08 Growth Forecast
Due to delayed installation at a few large commercial project, Akeena Solar (AKNS) is cutting its 2008 annual revenue growth estimate from 30 – 40% to 25 – 20%.
“As several large commercial projects got underway during the quarter, our customers encountered construction management issues that caused the solar installation phase to be pushed out into early 2009,” said Barry Cinnamon, president and chief executive officer. “In contrast to the lumpiness of the commercial business, … Read the rest
Akeena Solar (AKNS) Releases 3rd Quarter Results
Akeena Solar released its 3rd quarter results today. The company saw an increase in sales over the past year, with net sales up to $10.60 million compared to $8.1 million in the third quarter of last year and $7.1 million in the second quarter of this year. Commercial installations are up tremendously, having doubled from the second quarter of this year and quadrupling compared to last year’s 3rd quarter results. Residential installations are increasing … Read the rest