Bloomberg reports that short selling in green stocks has been increasing and is nearly four times the short selling in the S&P. In November, 17% of shares in the 35 stocks that make up the Wilderhill New Energy Index are sold short, up from 16% last month and 15% in September. That compares with the 4.4% short ratio of the stocks that make up the S&P.
Among the most heavily shorted stocks are Zoltek (ZOLT) … Read the rest
American Superconductor (AMSC) posted solid Q2 results this morning, beating analyst estimates and increasing their 2010 guidance. The company reported a non GAAP EPS of .32/share (vs the estimate for .28) on revenues of $101.5 million (vs the estimate for $101 million). That’s good for a 68% increase in EPS over the year ago quarter and a 35% increase in revenues. Sequentially, the numbers were a slight improvement.
American Superconductor (AMSC) announced this morning its new SolarTie Grid Interconnection Solution which combines its D-VAR STATCOM and PowerModule power conversion systems for a fully optimized solution to target utility scale solar plants. It’s expected to be a $2 billion market within the next five years.
“AMSC’s SolarTie solution offers grid-management support, reactive compensation and grid interconnection, all of which are required by utility-scale PV plant developers,” said Ash Sharma, Research Director at IMS Research. … Read the rest
Yesterday American Superconductor (AMSC) announced the rebranding of its 2nd generation HTS wire to Amperium and it appears the marketing strategy is paying off! This morning they announced a large order from Korea’s LS Cable for a million feet which AMSC will begin shipping in 2012.
==> Get A Free Daily Technical Analysis Report For AMSC Here
The two companies are no strangers. In March, they announced a partnership to deploy more than 31 miles … Read the rest
Barclays came out with a few calls yesterday, maintaining its Equalweight rating on both Itron (ITRI) and American Superconductor (AMSC).
The firm has a $70 price target on ITRI which is about 15% higher than the current price. They are raising 2010 estimates from $3.35 to $3.65 and 2011 estimates from $3.67 to $4.06. Shares of ITRI are increasingly bullish in recent weeks, getting back above resistance of the 50 day moving average. In my … Read the rest
Wunderlich Securities rates American Superconductor (AMSC) a Buy and has a $50 price target which would represent a nearly 70% move up from current levels. The firm notes that the company has significant cash reserves and no debt. Shares of AMSC continue to remain in basing pattern and are now testing resistance of the 200 day moving average.
==> Click Here For Your FREE Daily American Superconductor Technical Analysis
Wunderlich is also bullish on shares … 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.
===> Click … Read the rest
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.
====> Click Here For Your FREE Blade Dynamics Technical Analysis
AMSC CEO … Read the rest
American Superconductor (AMSC) reported Q2 results this morning with an EPS of $0.28, 4 cents better than the analyst estimate on revenues of $97.2 million, which beat estimates calling for $93.43 million. That represents a more than doubling of profits over the year ago quarter on revenues that were 32% higher than the year ago quarter. Gross margins increased 10% to 40% over the year ago quarter. Another strong quarter out of AMSC which makes … Read the rest
Jesse Pichel, who was formerly at Piper Jaffray, is now at Jefferies and initiating coverage on many green stocks. Hat tip to Street Insider for the ratings.
Buy Rating:
JA Solar (JASO) – $8 price target
Yingli Green Energy (YGE) – $15 price target
Trina Solar (TSL) – $35 price target
Itron (ITRI) – $74 price target
EnerSys (ENS) – $28 price target
American Superconductor (AMSC) – $35 price target
EnerNOC (ENOC) – $38 price … Read the rest