Evergreen Solar (ESLR) posted a non GAAP EPS loss of .08/share which matched analyst estimates on revenue that was slightly higher than estimates at $63.8 million. Considering the company nearly tripled revenues over the previous quarter, it looks like traders expected a better EPS. This is a company that clearly needs to get costs under control.
Some highlights from the CEO:
– continuing to ramp up production at Devens
– identifying cost cutting programs that … Read the rest
In an attempt to spur the export of US made solar products, Evergreen Solar (ESLR) is getting a boost from the Export-Import Bank of the US which is providing low interest financing (4.9% fixed over 18 yrs) for overseas projects using ESLR panels produced domestically. ESLR currently has 90MW of projects in varying stages of the loan app process with the bank which will cover 85% of the product cost and up to 30% of … Read the rest
Evergreen Solar just announced the successful installation of a 100KW system to provide power for Boston Sand and Gravel. The system, which utilizes 500 Evergreen Solar panels and Solectria Renewable Inverter and custom engineered mounting system , provides enough energy to meet two thirds of the energy needs for the company’s maintenance facility. The installation is expected to pay for itself in 5 1/2 years.
In a company press release, executives from both companies … Read the rest
According to 24/7 Wall St, JP Morgan (JPM) is out with several solar ratings changes this morning, most notably an upgrade of Evergreen Solar (ESLR) two notches to Overweight with a doubling of the price target to $5/share. Shares are trading up about 6% in premarket trading. First Solar (FSLR) continues to get hit with cautious analyst comments and downgrades with JP downgrading it this morning from Overweight to Neutral due to a fear … Read the rest
About once a week I’ll start highlighting a few stocks that I think are offering bullish setups. Please keep in mind though that this is a watch list and not a recommendation to buy or sell. Please do your own research. The following stocks recently moved big with record buy volume…
The first green stock I want to mention is Real Goods Solar (RSOL). The stock soared with record volume on June 5th following news … Read the rest
Evergreen Solar is using the Intersolar industry trade show as an opportunity to roll out a new brand campaign. The campaign emphasizes the slogan "More Electricity, Less Impact" to emphasize the fact that Evergreen Solar’s panels deliver the most energy with the lowest carbon footprint. Evergreen Solar will use the trade show to showcase its new ESA line of panels in this context.
In a press release, Evergreen’s Senior VP of Marketing and Sales commented … Read the rest
Evergreen Solar has not yet been able to locate the source of the noise pollution coming from its plant in Devens, MA. The deadline to resolve the issue is the 31st of May. Evergreen has tried repairing equipment in the plant, but the noise, described in this article from Devens News as a "pure tone," has not been silenced. The company has brought in outside consultants to try to pinpoint the problem so that it … Read the rest
Evergreen Solar just announced a public offering of its common stock, worth $60 million. Piper Jaffray and Co is the underwriter for the offering, and Evergreen Solar intends to give them a 30-day option to buy an additional $9 million worth of stock.
Per a company press release, the money raised from the offering will be used to finance the plant Evergreen plans to build in Wuhan, China:
Evergreen Solar intends to use the … Read the rest
Evergreen Solar just announced the release of its new black-framed string ribbon solar panel. The new product is identical to the ES-A Series line of 200, 205 and 210 W solar panels, except with a black frame instead of silver, allowing customers to create a more aesthetically pleasing display. Dr. Terry Bailey, Senior Vice President of Marketing and Sales, commented on the new product in a company press release:
“The black-framed ES-A series panels … Read the rest
Evergreen Solar (ESLR) continues to show why it’s a lagging solar play this afternoon, reporting a whopping quarterly loss of $64.3 million. Granted much of that was due to one time costs ($43.9 million for write offs from future silicon supplier, $3.5 million for Devens facility startup costs & $1.8 million for closure of Marlboro pilot facility), but this is still a company heading in the opposite direction of profitability. Taking out one time costs … Read the rest