Demand response company Comverge (COMV) got a pop in early trading this morning after the company posted mixed results, but also posted a surprise non GAAP quarterly profit which is the first in company history. However, most of the gains had evaporated by the end of the day.
The company reported a non GAAP EPS of .04/share on revenues of $37 million while analysts expected an EPS loss of .02 on revenues of $39 … Read the rest
A few bullish analyst calls to tell you about this morning.
Yesterday I posted about Verenium’s (VRNM) approval in China for Purifine which sent the stock soaring. The pull back today is offering a 2nd chance opportunity. Shares have pulled back to what is now support around the 200 day moving average.
Olympia Capital chimed in on the news and upgraded the stock from Neutral to Buy and raised the price target from $3 to … Read the rest
JMP Securities is bullish on a few green stocks due to an expected increase in electricity demand which the firm sees sparking increased efforts to develop alternative energy solutions. They see good value in demand response players EnerNOC (ENOC) and Comverge (COMV) as well as US solar company Sunpower (SPWRA) and have an Outperform rating on all three.
===> Click Here For Your FREE Daily Sunpower (SPWRA) Technical Analysis
Analysts have weighed in on Itron … Read the rest
Piper Jaffray has resumed coverage of a few smart grid stocks according to Street Insider.
Comverge (COMV) at Overweight and $12 price target.
“We believe Comverge’s diversified demand response platform, and growing presence in the commercial & industrial (C&I) segment, will result in significant revenue growth over the next 2 years with a healthy profitability inflection point being reached in 2H11.”
===> Click Here For A Free Comverge Technical Analysis
Itron (ITRI) at Neutral … Read the rest
Needham & Company is reiterating its Buy rating on Comverge (COMV) and price target of $14 after the company reported earnings last night. Hat tip to Street Insider for the analyst comments.
“We continue to view Comverge’s momentum in US residential (along with its improving presence in C&I) as vital to maintaining its position among the elite in the evolving demand response space. Further, we hold a positive view of the company’s growing turnkey … Read the rest
Comverge (COMV) reported results that were inline with analyst estimates on the EPS side and a bit above on the revenue side. The company reported a non GAAP EPS loss of .39/share on revenues of $17 million vs the analyst estimate of a .39/share loss on revenues of $15.80 million. For a company that expects to break even to post a bit of profit next year, it’s got its work cut out. On the revenue … 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
Needham & Company has initiated coverage on Comverge (COMV) with a Buy rating and $14 price target. Shares of COMV could use a boost. They remain in a down trend and there is resistance all the way up to the 11.15 level of the 200 day moving average. Hat tip to Street Insider for the following analyst comment:
“Overall, we view Comverge’s strong presence in US residential demand response (along with its building presence in … Read the rest
Comverge (COMV) didn’t have as much success in securing future revenues in the PJM market as EnerNOC (ENOC) did, but they have announced that they secured more than $74 million in future contracted revenue as a result of the 2013/2014 Reliability Pricing Model Base Residual Auction.
===> Click Here For Your FREE Comverge Analysis
What is this PJM market you ask? PJM Interconnection is a regional transmission organization that manages and operates the wholesale … Read the rest
Comverge (COMV) reported a wider loss of .41/share this morning, 5 cents worse than Wall St estimates. Revenues were also lighter than what Wall St anticipated at $13.4 million (estimates called for $16 million). With revenues increasing 16% over the year ago quarter and MW under contract increasing 15% I would have liked to have seen a much better EPS number, so all in all, a disappointing quarter out of COMV which is expecting in … Read the rest