Renesola (SOL) is providing preliminary Q2 guidance this morning, beating previous estimates and is raising guidance for the 2nd half. The company reports official results on August 9th.
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* They expect total shipments for Q2 to be in the range of 250 – 260MW, exceeding previous guidance of 230 – 250MW
* Net revenues are expected to be in the range of $245 – $255 million, … Read the rest
ReneSola (SOL) reported strong results this morning, beating Wall St estimates and guiding higher. The company reported an EPS of .14/share vs the analyst estimate of .09/share on revenues of $206 million (vs the estimate of $189 million). Most of the China solar companies have been reporting record shipments and Renesola is doing the same reporting a record 242MW.
The company is also guiding higher, helping to boost shares nearly 12% today. They see revenues … Read the rest
Solar stocks have truly arrived. Another one of the big boys has initiated coverage. Wells Fargo has initiated coverage on a few China stocks – Trina Solar (TSL), ReneSola (SOL) and Suntech Power (STP). Hat tip to Street Insider for the analyst commentary.
ReneSola (SOL) gets an Outperform rating and a valuation range of $9.50 – $12. “Wafer pricing is trending higher, margins are improving, and the new OEM business can provide protection if the … Read the rest
The solars are having a decent day today on the back of a Barclays bullish call this morning. According to Street Insider, the firm upgraded Solarfun (SOLF) to Equalweight and doubled the price target which sent the stock surging 10%. They have also raised the price target on several other solar stocks. Here are the calls..
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 … Read the rest
According to Street Insider, Piper Jaffray has responded to a negative Barron’s article over the weekend saying that the article is another sign that the negative sentiment on solar stocks has been priced in already and that the sector is poised to rebound with better visibility in the second half of the year. They went on to say that the German feed-in tariff cuts should stimulate growth and reiterated their Overweight ratings on Yingli … Read the rest
ReneSola (SOL) has reported earnings results this morning ahead of analyst estimates but the red ink continues to flow despite the best quarterly revenue number in over a year. They posted an adjusted loss of .03/share (estimates called for loss of .08/share) on revenues of $180 million (beating estimates of $169 million).
SOL CFO Charles Bai commented on the quarter: “During the fourth quarter of 2009, we continued to improve our manufacturing efficiency while expanding … Read the rest
China solar stocks have been crushed over the past month, but today are green on a day when the market is down significantly. This is the kind of relative strength that indicates that perhaps they have reached a turning point. I think it’s too soon to call a bottom in the China solar stocks, but this is a good start. The relative strength certainly isn’t without a catalyst .. Deutsche came out with a bullish … Read the rest
ReneSola (SOL) is announcing a big solar order this morning. Details are limited, but the company has received a 600MW OEM deal to supply solar modules over the next 3 years to a major global solar company. Shipments will be spread evenly at 200MW per year.
CEO Li Xianshou commented: “Our first major solar module OEM contract reflects the exceptional value inherent in our cost-competitive solar wafer and solar module OEM manufacturing platform. Our customers … Read the rest
Shares of ReneSola (SOL) will finally surge above resistance of the 200 day moving average this morning after Morgan Stanley came out and upgraded the stock from Equalweight to Overweight and tripled the price target from $2.30 to $6.60.… Read the rest
ReneSola (SOL) reported mixed Q3 results this morning posting a loss of $0.07 which was inline with analyst estimates on revenues of $140.9 million which was a bit better than Wall St estimates of $136.8 million.
The company says it’s seeing a strong rebound in demand and expects to work through its high priced inventory early next year which will get the company back in the black. CEO Xianshou Li also commented on recent acquisitions:… Read the rest