Ener1 (HEV) continues to post significant increases in revenues, but remains mired in red ink. The company reported another big jump in revenues and beat the analyst estimate of $15.4 million, posting $16.1 million, but profits remain elusive. The company reported an EPS of -.12, vs the estimate for a -.11/share loss. That was inline with what they reported last quarter and worse than the .11 loss they reported in the year ago quarter. Granted, … Read the rest
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Ener1 (HEV) Signs MOU With Russian Federal Grid Company
Ener1 just announced that it has signed a memorandum of understanding with Russia’s Federal Grid Company. Per the MOU, the two companies will work together to develop high-performance battery systems to help support Russia’s aging grid, which is expected to experience unprecedented demand in the years to come.
The MOU is part of a $15 billion effort by Federal Grid Company to modernize its power grid.
===> Click Here For Your FREE Ener1 Technical Analysis… Read the rest
Today’s Analyst Rating Roundup (AONE, HEV, VLNC, FSLR, SPWRA, ERII)
Several analyst rating notes to make you aware of today. Hat tip to Street Insider for the analyst notes.
Needham & Company has initiated coverage on AONE, HEV and VLNC.
Initiated coverage on A123 Systems (AONE) with a Hold rating and $10 price target. “Although we believe that A123 Systems has the potential to be a successful company in the long term, there are several near-term risks that could negatively affect AONE shares. The intellectual … Read the rest
Ener1 (HEV) Gets China Battery Joint Venture Deal, $65 Million Equity Investment
I’ve been in vacation mode in recent days so haven’t been keeping up with all the news, but Ener1 (HEV) announced last week that it landed a JV deal with China’s top auto parts company, Wanxiang. HEV will begin producing lithium battery systems for Wanxiang this year for an existing backlog of customers. This is a great opportunity for Ener1 as it opens up the China market to them. Traders cheered the news, sending the … Read the rest
EnerDel (HEV) And ITOCHU Demonstrate Automotive-to-Smart Grid Integration Project
EnerDel is working with ITOCHU and other companies on an automotive-to-smart-grid integration project, components of which were demonstrated for the public at a ceremony yesterday. The project combines electric vehicles (in this case, a Mazda2 modified to use EnerDel batteries and drivetrain components from the Think electric car), stationary grid storage, solar power and rapid re-charging infrastructure in a real-world environment. For example, the charging station, located at a Family Mart convenience store Japan , … 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
Ener1 (HEV) Misses, Ramps Up Production For THINK Electric Car
Ener1 (HEV) is still what I would call a development stage company, so the earnings reports aren’t as important as the news flow during the quarter. Let’s take a look and see how they did anyway. The company missed analyst estimates by a bit posting an EPS loss of .13 on revenues of $11 million. Those results are about in line with what they reported last quarter.
Ener1 (HEV) Reports Record Revenue, But Losses Remain; Traders Cheer Ramp Up For THINK Launch
Ener1 (HEV) reported results last night that were about inline with what they’ve been reporting in the last year. Another loss of .14/share just like last quarter but on record revenues of $11 million. As a development stage company, the quarterly results don’t mean much right now though. It’s all about the future and traders appear to like what’s in store, bidding up the stock about 10% today.
Here are some highlights of comments made … Read the rest
Enerdel (HEV) Will Supply Batteries For Japanese Electric Bus Demo
Enerdel just announced that they have been selected to supply batteries for a Japanese electric bus. The bus, which will be Japan’s first electric bus powered by lithium-ion batteries, was converted by Tokyo R&D on behalf of Hokuriku Electric Power Company, and is part of Enerdel’s “Green Crossover Town” collaboration with ITOCHU Corporation. The bus will begin providing transportation in the city of Toyama.
In a press release, Naoki Ota, Chief Operating Officer for EnerDel, … Read the rest
Enerdel (HEV) Will Invest $237 Million In Indiana Battery Plant
Enerdel, a subsidiary of Ener1, just announced that they will be investing $237 million in their new battery plant in Indiana, according to this press release . Backed with a mix of private funds and public incentives, the plant will enable Enerdel to meet anticipated demand for its batteries. It will also more than double Enerdel’s production capacity, allowing Enerdel to produce enough batteries to power 600,000 hybrids or 60,000 electric cars. Private incentives received … Read the rest