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
Tag Archives: sol
Renesola (SOL) Beats, Guides Higher But Still In The Red
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 Green On Deutsche Bullish Call, GT Solar (SOLR) Order
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) Announces 3 Yr, 600MW Solar Supply Deal, Shares Surge 10%
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
ReneSola (SOL) Surging 10% PreMarket On Morgan Stanley Upgrade
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) Reports Mixed Results, Expects Return To Profitability In Two Quarters
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
ReneSola (SOL) To Purchase Dynamic Green Energy
ReneSola just announced that it has share purchase agreement to acquire Dynamic Green Energy. Dynamic Green owns Jiawei Solarchina Co and other subsidiaries, owns production facilities for solar ingots and PV modules and also assists other solar manufacturers with original equipment manufacturing. Under the agreement, ReneSola will gain ownership of all of Dynamic Energy’s shares in exchange for the following: 26,787,210 shiny new ordinary shares of ReneSola and a $10 million convertible promissory note.
In … Read the rest
Renesola (SOL) In Potential $706 Million Wuzhong City Solar Deal
Not sure how I missed this earlier today.. I may need to make the coffee a bit stronger tomorrow morning. Renesola (SOL) announced it has signed a letter of intent with Taiyangshan Development Zone in Wuzhong city to develop a 150MW on-grid solar project. The project is still subject to a feasibility study and government approval but I can’t image that’s going to be a problem. The deal is a big one with a budget … Read the rest
Goldman Sachs Upgrades ReneSola (SOL) To Buy, Adds To Conviction Buy List
Goldman Sachs is out giving Renesola (SOL) shares a boost by upgrading the stock from Neutral to Buy and adding it to its conviction buy list. Goldman likes Renesola’s cost structure and its exposure to the BRIC countries which the firm believes will be a source of big growth. Shares of SOL are trading up about 15% in premarket.
Renesola (SOL) Gets Piper Downgrade, Credit Suisse Upgrade
Surprisingly, Credit Suisse is out upgrading Renesola (SOL) from Neutral to Outperform despite a tough quarter for the company. Piper Jaffray is downgrading SOL from Neutral to Underweight and lowering the price target from $6 to $4.50.
Hat tip to StreetInsider for the following analyst comment from Piper:
“We believe Renesola is making the right moves by vertically integrating downstream to cells/modules. Failure to integrate downstream, in our opinion, would result in anemic margin and … Read the rest