Tag Archives: hoku scientific

Hoku Scientific (HOKU) Revises Agreement With Suntech (STP), Announces $28 Million Loan From China Bank

It’s a busy afternoon for Hoku Scientific (HOKU).  The company announced a revised agreement with Suntech Power (STP) which excludes Suntech from having to prepay $30 million for future shipments of polysilicon, but potentially allows Hoku to keep the $2 million already paid which will be credited to future shipments.  The terms have also been shorted to one year and Hoku isn’t obligated to ship polysilicon until next June.

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Hoku Scientific (HOKU) Reports Mixed Results, Needs More Financing, Shares Down 10%

Hoku Scientific (HOKU) reported earnings results after the bell and traders aren’t impressed.  While the company matched analyst estimates with a .03/share loss, they missed badly on revenues reporting just $776K vs the analyst estimate of $1.4 million.  Granted, it’s a big improvement over the 112K they reported in the year ago quarter, but when you miss that badly, the stock will get hit.  It’s off about 10% in after hours trading.

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Hoku Scientific (HOKU) Spiking AH On News It’s Received Rest Of Tianwei Loan

Hoku Scientific (HOKU) is up nearly 12% in after hours trading on news it has finally received  the rest of the loan from Tianwei New Energy in order to keep the company running.  This loan is the final $30 million of the total $50 million loan it has now received from Tianwei.  The loan was supposed to be paid last month, but got held up in Chinese government red tape. 

The cash will go to … Read the rest

Hoku Scientific (HOKU) Soars As Solarfun (SOLF) Finally Pays Up

I’ll keep this post short because the details are well.. detailed and aren’t worth repeating here.  You can get all the financial details in a post here.  In a nutshell, Solarfun (SOLF) owed Hoku Scientific (HOKU) millions in payments for supplying them with solar modules that they were behind on and put their agreement in jeopardy.  It’s being announced this morning that Solarfun just paid $8 of the $13 million owed and will being … Read the rest

Piper Jaffray Maintains Underweight/Lowers Price Target On HOKU Despite Tianwei Rescue

Piper Jaffray is out maintaining its Underweight rating on Hoku Scientific (HOKU) and lowering the price target despite the Tianwei life preserver thrown last night.  The firm notes that while the company gains a strong partner and a new lease on life, the deal dilutes existing shareholders  and doesn’t complete eliminate the risks.  The Piper comment isn’t hurting shares this morning with the stock still up about 60%.… Read the rest

Hoku Scientific (HOKU) Gets A Chinese Bailout, Shares Soar

Hoku Scientific (HOKU) has been thrown a big Chinese life preserver and shares are soaring in after hours trading.  China’s Tianwei New Energy Holdings announced a definitive agreement after the bell today to convert $50 million in prepayments to Hoku into common stock and related warrants (giving the company 60% ownership), another $50 million in debt financing and a commitment to help Hoku obtain additional financing if needed.    Financing will be provided by Tianwei and … Read the rest

Hoku Scientific (HOKU) Retains Deutsche Bank For Possible Sale Of Company

One month ago we first reported on Hoku’s financing concerns for the Idaho plant which sent the stock plunging 30%.  Hoku Scientific (HOKU) is taking another nose dive today (down 15%) after it reported that its financial troubles have forced the company to slow construction on its Idaho polysilicon plant while it looks for investors and/or a possible sale of the company.  By all indications, it appears this is a company that will soon … Read the rest

Change To Hoku (HOKU) Polysilicon Agreement With Tianwei

Hoku just announced an amendment to its polysilicon agreement with Tianwei New Energy Wafer Co Ltd. The amendment relieves Hoku of its upcoming shipping obligations in exchange for an 8 percent reduction in the price of the polysilicon.

Instead of paying Hoku $511 million over the 10-year contract period, Tianwei will only pay $468 million. In addition, Hoku will receive a $5 million payment upfront. Hoku is having some trouble getting financing to finish its … Read the rest

Hoku Scientific (HOKU) Surging With Heavy Volume Above 200DMA

Hoku Scientific (HOKU) is really surging today with heavy volume above the 200 day moving average for the first time in well over a year.  I don’t see any news today, but the company did announce an economic development package (ie tax breaks) with the City of Pocatello of Idaho which we covered a few days ago.  Perhaps an announcement is coming.  Will update this post if  I find anything.  Some heavy selling pressure coming … Read the rest

Hoku Materials (HOKU) Signs Economic Development Agreement With Pocatello

Hoku Materials just announced a new economic development agreement with the City of Pocatello. The deal could grant Hoku up to $49 million worth of tax increment financing. Under the terms of the contract, Hoku will get up to $26 million in incremental property tax reimbursement to cover its capital costs from setting up a polysilicon production plant in Pocatello. Then, as long as Hoku hires a certain number of employees, the company will become … Read the rest