According to StreetInsider.com, Piper Jaffray is out with a Sell rating on LDK after the company reported poor earnings yesterday and slashed the price target from $9 to $3. Here are Piper’s notes on LDK:
– steadily deteriorating balance sheet
– plan to construct a polysilicon plan too much of a risk and possible liquidity drain
– hundreds of millions of customer prepayments that had been promised to fund the new plant are now … Read the rest
LDK Solar (LDK) is trading down about 10% in pre-market trading this morning after reporting a large 4Q loss and issuing disappointing guidance for next quarter. The company reported a loss of $1.25/share which was much steeper than what analysts had expected (.84 loss) on revenues that actually beat estimates and represented a 121% increase over the year ago quarter. The company ended the year with $255 million in cash and cash equivalents and $83 … Read the rest
LDK just announced that it has been able to substantially cut the electricity needed to produce one kilogram of silicon, reducing it from 300 kwh to 100 kwh. The improvements in efficiency took place at LDK’s new polysilicon plant in Xinyu, Jiangxi province.
However, as Cleantech.com notes, LDK has been struggling lately:
… Read the restThe good news comes as LDK continues to battle negative reports from analysts, including ThinkEquity’s Jonathan Hoopes, who downgraded the stock to ‘sell’
LDK Solar (LDK) is hitting new all time lows this morning, gapping down 14% after cutting guidance after the bell yesterday. The company warned it would slow expansion and lose $135 – $145 million in the 4th quarter which would represent the first loss in company history. It’s revised revenue outlook for the 4th quarter has fallen to $415 – $435 vs the analyst estimate of $432 million. … Read the rest
The class action suit against LDK Solar took another step forward last week when Judge William Alsup approved a class consisting of anyone who purchased LDK shares. According to Law360, the lawsuit alleges that "LDK Solar Co. Ltd. and its executives committed a massive securities fraud by inflating the value of the company’s inventory of raw materials and understating the costs of producing solar wafers, which are used in devices that convert sunlight into electricity." … Read the rest
LDK Solar held an opening ceremony for Phase I of its 16,000-ton polysilicon project. Construction began on the project in Xinyu City, China in February of last year. The project will eventually produce 16,000 tons of polysilison per year, which will be used to make solar wafers. This will help decrease LDK’s production cost while ensuring a reliable supply. Trading Markets has more details about the project:
… Read the restThe project that broke earth in February 2008
I’m back from vacationing in Troncones, Mexico and looking forward to bringing you the latest in alternative and renewable energy stocks in the coming year! Thanks for all the comments from visitors in the 6 months since this site was launched. . my goal is to continue to push forward and make GreenStocksCentral.com the #1 source for breaking news and tracking of green stocks with an increasing number of analysis coming in 2009.
With that … Read the rest
LDK Solar announced yesterday that it has delayed two polysilicon projects with a total production capacity of 6,000 tons. Originally, LDK had planned to increase its 2008 production capacity by 6,000 tons. According to TradingMarkets.com, 5,000 tons of that amount was supposed to come from a 15,000-t/y polysilicon project and 1,000 tons was supposed to come from from a 1,000-t/y polysilicon project. However, the 15,000 t/y polysilicon project will not be online until the middle … Read the rest
After several days of large gains, solar stocks are going to have a difficult time tomorrow after LDK Solar (LDK) came out after the bell and cut its expectations for 4Q and FY09 citing .. you guessed it! Lower demand.. oh and a delay in ramping production at its 1000 MT polysilicon plant which is expected to offer peak production around mid 2009. Construction of the 15K MT polysilicon plant remains on schedule and is … Read the rest
Several months ago when LDK was trading about 200% higher from current levels, the rumors began to swirl that Siemens would make a buyout bid of LDK Solar at around $55/share. Well, it appears the rumors are making the rounds again that LDK Solar will be taken out. StreetInsider.com is out with the following note:
“Shares of LDK are moving higher today on unconfirmed rumors the company could be the target of a takeover bid. … Read the rest