American Superconductor (AMSC) reported another impressive quarter, beating analyst estimates by a wide margin. The company posted EPS of .19/share which was .07 better than expectations . They posted a loss in the year ago quarter. Revenues were strong as well at $74.7 million and about 10% ahead of analyst estimates (85% greater than year ago quarter). They are also raising their full year 2009 revenue guidance from $260 – $270 to $300 – 310 … Read the rest
Tag Archives: china
JANCO Upgrades American Superconductor (AMSC) Ahead Of Earnings
JANCO Partners upgraded American Superconductor (AMSC) from Market Perform to Accumulate ahead of its earnings report on Thursday.
Hat tip to StreetInsider.com for the following analyst comment:
“In view of the recent pullback in the stock price and continued momentum of the Chinese wind market benefiting AMSC, we are upgrading the stock to Accumulate. We believe that the company has a reasonable chance of outperforming Street expectations given that Sinovel accelerated their ramp schedule of … Read the rest
China’s Kandi Technologies (KNDI) Gets US Tax Credit Approval For COCO Electric Car
China electric car manufacturer Kandi Technologies (KNDI) is announcing this morning that the US Dept of Treasury has approved its low speed, convertible electric vehicle for meeting the requirements of a Qualified Plug-In Electric Vehicles which gives purchasers of the vehicle a tax credit of $4,434. It should be noted that this is only valid for this year, but the company is confident the certification will be extended to next year.
Said the CEO, “While … Read the rest
American Superconductor (AMSC) Gets $100 Million Follow On Sinovel Contract
American Superconductor (AMSC) has landed another contract from China’s largest wind turbine company Sinovel. This time it’s a big one – $100 million to be exact. AMSC will supply Sinovel core electrical components for its 3MW wind turbines and begin shipping in March of next year.
“Over the course of the past four years, Sinovel has transformed from start-up mode into China’s largest wind turbine manufacturer,” said Greg Yurek, founder and chief executive officer … Read the rest
A-Power (APWR) Gets $90 Million, 49.5MW Wind Farm Contract
A-Power Energy (APWR) is surging nearly 10% this morning on news it has received a 49.5MW “full responsibility” contract valued at over $90 million to build a wind farm in Inner Mongolia called the Saiwusu Wind Farm. APWR will handle just about everything including supplying the turbines, towers and foundations, construction and installation. The project has already been approved by the National Resources Bureau of Inner Mongolia and the permit issued for transmission of power. … Read the rest
First Solar (FSLR) To Build World’s Largest Solar Plant In China
OK, it’s not quite a done deal yet, but First Solar (FSLR) has signed a memorandum of understanding with China to build the world’s largest solar power plant in the desert of Inner Mongolia (Ordos City). The 2GW plant would be completed in phases over the next 10 years with a 30MW demo project to begin next summer, a 100MW and 870MW project to be completed by 2014 and the final 1000MW phase to be … Read the rest
A-Power Energy (APWR) Misses Badly Again, Stock Down Sharply Premarket
A-Power Energy (APWR) missed earnings estimates by a wide margin once again this morning and the stock is down more than 10% as a result. The company reported an EPS of .14/share which was a big improvement sequentially but down 30% over the year ago quarter. Analysts were expecting .20/share. Revenues also jumped over last quarter (by about 60%) to $57.5 million, but off about 10% from the year ago quarter and missing estimates as … Read the rest
Renesola (SOL) In Potential $706 Million Wuzhong City Solar Deal
Not sure how I missed this earlier today.. I may need to make the coffee a bit stronger tomorrow morning. Renesola (SOL) announced it has signed a letter of intent with Taiyangshan Development Zone in Wuzhong city to develop a 150MW on-grid solar project. The project is still subject to a feasibility study and government approval but I can’t image that’s going to be a problem. The deal is a big one with a budget … Read the rest
A-Power Energy (APWR) Adds Thin Film Solar To The Mix With EvaTech Purchase
A-Power Energy (APWR) is becoming quite the one stop shop for green energy solutions in China. The company is now involved in wind turbines, biofuels, LNG and with today’s announcement of its MOU to purchase EvaTech, thin film solar. The all cash transaction of $50 million will be funded by government subsidies (about 40 – 45%) and loans. APWR expects to sign a definitive purchase agreement with EVATECH by next month and the close … Read the rest
China Energy Efficiency Play Breaks Out: Smartheat (HEAT)
The one-two combo of being a China green stock has proved to be a winning combo of late and one such stock is relatively off the radar. The company is SmartHeat (HEAT). The stock broke out of a base Monday with heavy volume ahead of its earnings report this morning. The results? The company posted a quarter over quarter EPS surge of 267%. Granted, it’s a very small company, but that may not be the … Read the rest