STP, FSLR and SPWRA Stock Charts
These last weeks were being ruled by the Bears and now we are close to a decisive point in the market.
Most Solar Stocks seem to be reacting after a string of losses, but what we really need is for the Bulls to pull the market up decently in the next few days, or the short to mid term trends will be pointing even lower.
Today's Pre-Market seems to be pointing up, but it's still risky to get long before a confirmation movement is printed on the charts.
Suntech Power Holdings Co., Ltd. (STP):
It's important that STP stays above the $13 support price level and make a movement up soon.
First Solar, Inc. (FSLR):
First Solar looks to be in the weaker technical situation, and must be above $120 or the trend continues to look Bearish.
SunPower Corporation (SPWRA):
SunPower Corp is still above the $20 support but needs a stronger sign from the Bulls.
Labels: First Solar Inc, FSLR, solar ch, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
BlackRock clean fund targets Asian solar stocks
BlackRock's New Energy Fund is "cautiously" investing more in solar companies after a glut in solar panels and falling prices saw producers' margins squeezed over the past two years, its fund manager said.
The BlackRock New Energy Fund was launched in 2001 and had some $3.9 billion assets under management as of Dec 31.
The fund delivered returns of 21 percent in 2009. That compared with 27 percent returns to the wider MSCI index of global stocks .WORLD
"We're now cautiously increasing our weightings in solar, it is cautious because we think it's a u-shaped recovery in demand," co-head of the fund Robin Batchelor told Reuters on Wednesday.
"Were focusing a bit more on the Asian producers which we think have a structural advantage over some of the European producers," he said in a telephone conversation from London.
"(Manufacturing in China) gets a big subsidy on power, cheap land, you've got cheap employment, it takes a bit quicker to get your permitting, all your environmental issues taken care of, these are things which all cost a lot in the western world."
"Power is a big component in manufacturing cost, that's putting a structural benefit towards some of the Asian producers."
The BlackRock New Energy Fund cut its exposure to solar from up to 30 percent "several years ago" to 5 percent, in advance of the solar panel over-supply developing, Batchelor said.
ABN AMRO's Solar Energy .ABNZSOL was down 3 percent last year, while the DJ-SAM (Dow Jones-Sustainable Asset Management) World Solar Index .SOLEX was down 2.4 percent.
More than half of BlackRock's New Energy Fund is invested in companies specialising in renewable energy, with the rest in stocks for example focused on "green" buildings, electric car batteries, emissions trading and carbon capture and storage -- a technology meant to remove carbon emissions from coal plants.
Source:
ReutersLabels: blackrock, China, Solar Industry, Solar Stocks, Solar Technology
Solar Stocks Upgrades
Some upgrades for Solar Stocks today:
SunPower (Nasdaq: SPWRA) raised from Hold to Buy. Price target lowered from $30 to $29. Shares are up 2.5% to $21.75 this morning. The firm's new target on SunPower suggests potential upside of 33%.
Suntech (NYSE: STP) raised from Underperform to Hold with a $12 target. Stock is flat in the pre-market session at $13.38.
Solarfun (Nasdaq: SOLF) raised from Underperform to Hold with a $7 target. Solarfun shares are up 0.4% to $7.85. Price target represents possible downside of about 10%.
China Sunergy (Nasdaq: CSUN) raised from Underperform to Hold. Price target raised from $4 to $4.50. China Sunergy is up nearly 4% this morning, last trading at $4.35. Jefferies new target suggests potential upside of about 3%.
Labels: China Sunenergy, CSUN, solar analysis, Solar Stocks, Solarfun, SOLF, SPWRA, STP, SunPower Corp, Suntech Power
Solar Downgrades
Suntech Power Holdings Co., Ltd. (ADR) (NYSE: STP) gained 1.77% to $13.25 despite being downgraded by Broadpoint AmTech Research to Sell from Neutral at a price target of $10. The 52-week trading range for STP is $5.09 - $21.38. Suntech Power Holdings closed at $13.02 in the previous trading session.
Labels: downgrade, solar analysis, Solar Stocks, STP, Suntech Power
Suntech to Announce Earnings on March 4, 2010
Suntech Power Holdings Co., Ltd., the world's largest crystalline silicon photovoltaic (PV) module manufacturer, will announce its financial results for the fourth quarter and full year ended December 31, 2009, before the U.S. market opens on Thursday, March 4, 2010. Suntech management will host a conference call that day at 8:00a.m. Eastern Standard Time (which corresponds to 9:00p.m. Beijing/Hong Kong time and 1:00p.m. Greenwich Mean Time on March 4, 2010) to discuss the company's results.
A live and archived webcast of the conference call will be available on Suntech's website at http://www.suntech-power.com/ under Investor Center: Financial Events.
Labels: Earnings, Solar Stocks, STP, Suntech Power
Solar Stocks update
NEW YORK (MarketWatch) -- U.S.-listed shares of solar panel makers fell with their brethren in Europe on Wednesday, after the German government proposed a 15% cut in subsidies it provides to the industry. First Solar (FSLR 119.97, -3.97, -3.20%) , a component of the S&P 500 (SPX 1,135, -15.73, -1.37%) , fell 2.7% to $120.60. SunPower (SPWR.A 22.18, -0.86, -3.73%) subtracted 2.3% to trade at $22.50 a share. Suntech Power Holdings (STP 15.05, -0.42, -2.70%) fell 1.6% to $15.23 a share.
Market WatchLabels: First Solar Inc, FSLR, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
Solar Power: Sunshine's Cloudy Days
These news seem contradictory, but according to some data, 2010 has made a good start, with demand filling all the supply from some major solar manufacturers, but these 'Cloudy Days' are referring to the 2009 over supply of solar panels, that is still a reality to many companies.
Mike Ahearn, chairman of the world's largest manufacturer of solar panels, had every reason to party in September. That's when his company, First Solar, based in Tempe, Ariz., was picked by China to build what promises to be the world's biggest solar-electricity plant: a Manhattan-size facility in Inner Mongolia providing 2 gigawatts of power, about twice the size of a large coal plant or average nuclear power station. But the Chinese facility will take years to build, and the party buzz subsided pretty quickly. The next month, Wall Street analysts downgraded First Solar's stock after the company missed its third-quarter revenue target. "I think the Wall Street perspective is pretty short-term," says Ahearn.
That's true, but it's also true that, while photovoltaic cells that turn sunlight into electricity may play a potentially vital role in weaning the world from fossil fuels, a transition will take decades — and the business metrics surrounding the solar-power industry currently are anything but bright. After a period of rapid expansion, panel manufacturers today are reeling from a pronounced supply surplus, falling prices and stagnating sales. In 2009, industry revenue plunged by nearly 40% to about $25 billion from $40 billion the previous year, according to BankAmerica Merrill Lynch alternative-energy analyst Steven Milunovich. Solar-panel output far outstripped demand last year; manufacturers made 66% more product than they were able to sell, estimates research firm iSuppli located in El Segundo, Calif. Some analysts believe the dismal conditions will persist into 2011,
Read more:
Time.comLabels: First Solar Inc, FSLR, Solar News, Solar Stocks, Solar Technology
Solar Stock ETF TAN
Claymore/MAC Global Solar Index (ETF) Update
The solar stock ETF TAN seems to be pointing down, with the recent correction across all markets. The chart seems to be pointing to a support near the $10 line near the 50 day moving average.
Most solar stocks still look bearish for the very short term, so the Bulls better keep waiting...
Labels: ETF, Global Solar Index, MAC, solar charts, solar ETF, Solar Stocks, TAN
China To Launch 2-GW Solar Power Project
A large-scale contract has been signed between an American solar power company and a Chinese power systems producer in this respect.It will result in the setting up of solar thermal power facilities on several locations in China that will produce more than 2 GW of power.
The agreement was reached last week in the Chinese State Council building, will join U.S. solar power plant developer eSolar to Penglai Electric for implementing what is expected to be China's biggest concentrating solar power project so far.
The first round of the program, which will build a solar power facility that will be operated by Chinese Shaanxi Yulin Huayang New Energy Company and will produce 92 MW of power, will start this year.
SourceLabels: China, Solar News, Solar Projects, Solar Stocks
Suntech solar panels sold out in early 2010
Supply seems not enough to fill all Suntech's Solar Panels demand,
and prices always rise on those conditions:
- Fully booked on panels through second quarter
- Company sees panel prices stable in Q1
- Expects panel prices to fall in second half of year
Suntech Power Holdings Co Ltd's (STP.N) solar panel is sold out through at least the second quarter of 2010, a company executive said on Tuesday.
"We were basically in a sold-out situation in Q4 and we're in a sold-out situation at least through Q2," Steve Chadima, vice president of external affairs at Suntech, said at a conference hosted by Needham and Co in New York.
"We're basically selling anything we can produce and I know we're not alone," Chadima said.
Demand for solar power products has rebounded after a difficult 2009, when the global credit crisis dried up financing for new projects and panel prices plummeted.
Chinese players such as Suntech, Trina Solar Ltd (TSL.N) and Canadian Solar Inc (CSIQ.O) have seized on rising demand, turning their low-cost structures into sales, and several plan to boost production capacity in 2010.
Labels: Canadian Solar Inc., China, CSIQ, STP, Suntech Power, Trina Solar, TSL
Adami: Looking for heat in solar space
We mortified some but educated many by writing about Hans Christian Andersen and the opportunities in the solar space on Dec. 18. On that day we highlighted First Solar (FSLR), JA Solar (JASO), and Trina Solar (TSL) as three ways to participate in the sector. Since then enough things have happened to warrant an update.
On Dec. 21 First Solar and NRG Energy announced the start of commercial operation for the photovoltaic solar project in California. Of course, the very next day Sen. Dianne Feinstein (D-Calif.) introduced legislation to protect 1 million acres of land in the Mojave Desert. Not surprisingly, the headlines generated by Feinstein's bill were not exactly bullish for the solar names.
...
Hershey also said FSLR recently withdrew its application for a 150-megawatt project in San Luis Valley, Colo. She noted that about 70 percent of First Solar's revenue comes from Germany and is worried that a change in tariff policy could lead to a drop in orders.
However, she did leave her EPS forecast at $6.28 for this year. Placing a 20 multiple on the stock gets you to her price target of $125.
SourceLabels: First Solar Inc, FSLR, Solar News, Solar Stocks
Staples facility unveils solar rooftop
Just one good example among many others:
Staples Inc., the Framingham-based office products retailer, said it held a dedication ceremony yesterday to unveil the largest single rooftop solar power installation in Maryland at the company’s 200,200-square-foot fulfillment center in Hanover.
“The 1.01 megawatt solar installation covers nearly 175,000 square feet of roof space, larger than three football fields,’’ Staples said in a press release; the release said the installation demonstrated the company’s commitment to environmental issues.
The event was co-hosted by SunEdison, a solar energy services provider that worked with Staples on the project.
sourceLabels: News, solar panels
Big Green Day for Solars
SolarFun, JASO Solar Holdings and ReneSola are all having big moves today.
Only now it seems that solar stocks are following the Crude Oil price movement that is reaching new relative highs this week.
Today's chart, ReneSola Ltd. (SOL), shows a new high for the last 3 months. The stock looks bullish from short to long term, as many others in the solar industry sector.
Labels: Crude Oil, JASO, ReneSola, SOL, Solar Stocks, SOLF
Sharp, Enel, STMicro to jointly make solar cells
Japan's Sharp Corp (6753.T: Quote, Profile, Research) said it will set up a joint venture with Enel (ENEI.MI: Quote, Profile, Research) and STMicroelectronics (STM.PA: Quote, Profile, Research) by March to make solar cells in Italy, in a bid to further tap the strong growth potential of renewable energy sources.
Consumer electronics maker Sharp and Italian utility company Enel in 2008 announced their intention to make thin-film solar cells with a European manufacturer, but they did not identify the third company.
The venture plans to start producing solar cells in early 2011 at STMicroelectronics' existing facility in Sicily at an initial output capacity of 160 megawatts a year, which will eventually be raised to 480 megawatts.
In addition to bank loans, each of the joint venture partners will invest up to 70 million euros in the project, Sharp said in a statement.
The venture will be owned a third each by Sharp, Franco-Italian chip maker STMicroelectronics and Enel Green Power, an Enel group company.
SourceLabels: Sharp, Solar News, solar panels, Solar Stocks, Solar Technology
