Ardour Capital is out this morning upgrading both Yingli Green Energy (YGE) and Comverge (COMV) following recent earnings reports. They upgraded Yingli (YGE) from Reduce to Buy. Hat tip to Street Insider for the analyst comments:
“We are increasing our 2010 estimates to reflect demand-driven capacity expansion and solid gross margin outlook. The Company announced a 300MW capacity expansion to address continuing order demand from channel partners. Accordingly, YGE expects to ship 950-1,000MW in … Read the rest
Comverge (COMV) reported a non GAAP EPS of -.02/share this morning which is slightly more than the analyst estimate of a .01/share loss. Revenues matched analyst estimates at $40.8 million which is a record for the company. While revenues increased 18% over the year ago quarter, the company did report a .28/share profit a year ago and the company said that historically, its 4th quarter is the best due to recognition of their Virtual Peaking … Read the rest
Comverge just announced that it has expanded its existing contract with Pepco Holdings, Inc. Under the new contract, Comverge will provide full support to more Pepco Holdings territories. Comverge will provide marketing, installation and call center services for its Apollo Demand Response Management System and will install more than 40,000 home energy management devices. Comverge will also provide its Dual Mode Digital Control Units and SuperStat PRO™ programmable thermostats.
Comverge just announced that it has signed a new 10-year agreement with the University of Maryland to provide demand response services at state agencies and University of Maryland campuses. This agreement is an extension of an existing agreement with the University of Maryland. Over the past two years, Comverge has already achieved load reductions of over 20 million kilowatts. Under the new agreement, Comverge will continue to help UMD save energy by continuing to offer … Read the rest
Comverge (COMV) has reported earnings results this morning and they’re so so in my opinion. The company did beat on both EPS and revenues by reporting a .44/share loss (est .43/loss) on revenues of $33.2 million (est $32.8 million). That’s another increase in revenues over the year ago quarter, but the company isn’t making much headway on EPS.
The CEO didn’t comment on the revenue growth not translating into better EPS numbers, but he did … Read the rest
Comverge just announced that it has been chosen to provide load control devices and software for Puget Sound Energy’s smart-grid enabled demand response pilot program. The program is located in Bainbridge, Washington and will last 2 years. Residential consumers participating in the program will have ZigBee-enabled programmable 2-way communicating SuperStat PRO(TM) thermostats, Comverge ZigBee-enabled Digital Control Units (DCU) and Internet-enabled Comverge ZigBee Gateways installed in their homes, and will be able to voluntarily manage their … Read the rest
Comverge just announced that its PowerPortal(R) in-home display has received Zigbee’s Smart Energy Certification. Comverge currently offers 2 other Zigbee-certified product: their Digital Control Unit and their Programmable Communication Thermostat. Zigbee’s Smart Energy Profile creates a wireless home area network that allows both customers and utilities to connect with smart appliances without installing broadband. Comverge’s Power Portal connects this technology to smart meters outside the home, bringing in important information about electricity prices as well … Read the rest
Brean Murray has initiated coverage on four green stocks this morning. American Superconductor (AMSC) and EnerNOC (ENOC) get Buy ratings from the firm while Echelon (ELON) and Comverge (COMV) get Hold ratings.
“Buoyed by an experienced management team and strong wind energy market growth in China, AMSC’s revenues grew from $52 million in FY06 to $183 million in FY08. With a continuation of the current wave … Read the rest
Comverge just announced that its 4-year, 40 megawatt Virtual Peaking Capacity (VPC) contract with Southern California Edison has been approved by regulators. The approvalmeans that Comverge can begin work on a demand response system that will increase the reliability of Southern California Edison’s grid during times of heavy use.
In a press release, executives from both Comverge and Southern California Edison commented on the news:
“The rollout of our program with SCE will provide … Read the rest
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