It was really just a matter of time for Energy Conversion Devices (ENER). The once promising leader in flexible thin film solar filed for bankruptcy protection this morning, dousing the optimism of recent wins by wholly owned subsidiary United Solar which the company plans to sell. USO landed a deal for integrated rooftop solar in Italy and most recently a deal with SolarFocus to power Amazon’s Kindles through solar. That subsidiary would make a … Read the rest
Tag Archives: energy conversion devices
Energy Conversion Devices (ENER) Powers Solar Powered Kindle
A rising tide lifts all boats, even the SS Energy Conversion Devices (ENER). This is a thin film solar company with oodles of promise.. a few years ago. The company has been bleeding red ink for some time and has traded below a buck for many months. It’s now a lotto ticket play, albeit with much better odds.
The stock got a big boost yesterday along with the entire solar sector on the report out … Read the rest
Energy Conversion Devices (ENER) Losses Continue, But Beats Estimates; Guides Below
Energy Conversion Devices (ENER) reported results this morning that were better than analyst expectations, but the company remains deep in the red. The company reported a non GAAP EPS of .32 which excludes one time costs which compares to the analyst estimate of a .60/share loss. Revenues beat as well coming in at $86.2 million vs the estimate of $72 million. While that’s a 40% increase in revenue quarter over quarter, it’s a much steeper … Read the rest
Energy Conversion Devices (ENER) Lands 3.9MW Rooftop Solar Deal
Energy Conversion Devices (ENER) subsidiary United Solar has signed a 3.9MW deal to supply solar laminates to New Jersey Resources Clean Energy Ventures & Adler Development. Adler Development will lease 900K of roof space to NJRCEV for 20 years allowing tenants a power purchase agreement from NJRCEV. The project has already begun with work started on four Adler buildings in New Jersey.
====> Click Here For Your FREE Energy Conversion Devices Technical Analysis
ENER CEO … Read the rest
Today’s Analyst Rating Roundup: SPWRA, AKNS, ENER, CSIQ, DAR, CWST, GPRE
Several analyst rating changes today. Analyst notes courtesy of Street Insider.
Upgrades
Ardour Capital upgraded Darling (DAR) from Hold to Accumulate and raised price target to $9.50. Shares up nearly 4% today but still trading below the 200 day moving average. Get a FREE Darling Intl Technical Analysis
Ardour Capital also upgraded Akeena Solar (AKNS) from Hold to Buy and has a $1.25 price target (about 50% higher than the current price) AKNS is … Read the rest
Today’s Analyst Rating Roundup: HEV, ENER, STP, LDK
Janney Montgomery Scott upgraded Ener1 (HEV) from Sell to Neutral and has price target of $3.50. “The Company announced that Volvo has selected HEV as the exclusive supplier for its C30 battery-electric vehicle platform…However, we believe that at current levels, HEV’s stock fairly values the Company’s prospects.” Shares of HEV are down 4% today. Click Here For Your FREE Ener1 Analysis
Macquarie upgraded Energy Conversion Devices (ENER) from Underperform to Neutral. Shares recovering again today, … Read the rest
Energy Conversion Devices (ENER) Beats, Shares Recover, But Big Losses Continue
Energy Conversion Devices (ENER) reported another sizable loss of .64/share (excluding large impairment charge of $358 million), but it did beat the .75/loss analysts had been expecting. Revenues also came in higher than expected at $72 million vs the estimate of $61 million. It’s a glimmer of hope for a company that has really struggled, but they’re still a long ways from returning to profitability and are expected to continue racking up losses at least … Read the rest
American Superconductor (AMSC) Upgrade, Energy Conversion (ENER) Underperform
Two noteworthy analyst notes this morning on American Superconductor (AMSC) and Energy Conversion Devices (ENER).
Wedbush maintains its Underperform rating on ENER and is lowering the price target from $9 to $7. Hat tip to Street Insider for the following analyst note:
===> Click Here For Your FREE Energy Conversion Analysis
“We believe ENER will continue to struggle as oversupply conditions continue and demand for niche products like flexible BIPV remains below expectations. While we … Read the rest
Barrons Savitz On Solar: Supply Glut To Continue, More Firms To Fail (ESLR, ENER)
In a weekend piece over at Barron’s, Eric Savitz sees a rough road ahead for the solar industry as capacity continues to outpace demand for years to come. He highlights the fact that while demand has picked up ahead of the German solar subsidy cuts in a few months, capacity still outpaces demand and the situation will only worsen as the German subsidy cuts take place, putting some solar laggards out of business.
Its … Read the rest
JP Morgan Downgrades Solar Names (FSLR, ESLR, ENER), Sees Better Opportunity In LED, Wind Energy
JP Morgan is out with a bearish call on solars this morning downgrading First Solar (FSLR) and Energy Conversion Devices (ENER) to Underweight and initiating coverage on Evergreen Solar (ESLR) with a Neutral.
Notable calls has all the details on the call, but here are some highlights:
– JP Morgan reiterates the same old concerns of supply and margin headwinds
– they like LED and wind energy better right now
– German tariff reset will … Read the rest