Chinese solar stocks shine
Seven out of the eight U.S. listed Chinese stocks made it to the overbought screen Thursday morning. Gains for the sector look limited from here as LDK Solar (NYSE:LDK), ReneSola Ltd. (NYSE:SOL) and Solarfun Power (NASDAQ:SOLF) have approached theoretical highs. Suntech Power (NYSE:STP), Trina Solar (NYSE:TSL) look better from a technical point of view but again, advance of Canadian Solar (NASDAQ:CSIQ) and China Sunergy (NASDAQ:CSUN) look excessive compared to the rest of the sector.
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Back to solar stocks: high oil price helps alternative energy plays such as solar, wind and hydro power. Solar stocks look good based on fundamentals as well after hitting a bottom in the middle of 2009. Shipments have dramatically increased while margins have stabilized. JA Solar (NASDAQ:JASO) has just raised 2010 Q1 shipment guidance. Four solar stocks out of the total eight reported revenue and earnings growth for the last quarterer of 2009.
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readingLabels: China, China Sunenergy, CSUN, LDK, ReneSola, SOL, Solar Stocks, STP, Suntech Power
Zacks Analyst Blog Highlights
First Solar Inc., Southern Company, Suntech Power Holdings Company Ltd., SunPower Corporation and ReneSola LtdFirst Solar Sells Project
First Solar Inc. (FSLR - Analyst Report) has sold a 30 megawatt (AC) photovoltaic solar power project to Southern Company (SO - Analyst Report) and Turner Renewable Energy.
The Cimarron I photovoltaic solar power project is adjacent to the Vermejo Park Ranch in northern New Mexico . First Solar is developing the project and is providing engineering, procurement and construction (EPC) services.
First Solar will also provide operation and maintenance services under a 25-year contract. The facility will supply power to approximately 9,000 homes, or 18,000 residents, and displace over 45,000 tons of carbon dioxide per year.
Construction of the solar array will begin in March, with completion and commercial operation expected by year-end 2010. It will consist of approximately 0.5 million photovoltaic modules constructed with First Solar's patented thin film semiconductor technology.
Turner Renewable Energy is wholly owned by the media magnate Ted Turner.
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First Solar enjoys a distinct cost advantage over its peers due to its reliance on low cost thin-film cells. However, the advantage is ebbing fast due to falling polysilicon prices. First Solar’s growth potential and that of the solar industry in the aggregate requires a prudent long-term focus on technological enhancements, capacity build-out and cost minimization. Balancing all three aspects would be an uphill task.
Competition in the industry is becoming tougher by the day for U.S. solar players such as First Solar, who has a huge German exposure in its top line compared to its counterparts such as Suntech Power Holdings Company Ltd. (STP - Analyst Report), SunPower Corporation (SPWRA - Snapshot Report) and ReneSola Ltd. (SOL - Analyst Report), whose markets are more diversified.
SourceLabels: First Solar Inc, FSLR, ReneSola, SOL, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
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
Zacks Analyst Blog Highlights: FSLR, STP, SOL
First Solar Inc. (FSLR) has become the first photovoltaic (PV) company to manufacture and ship more than 1GW of its PV solar modules in fiscal 2009. As the world’s largest solar module manufacturer, First Solar has increased its manufacturing capacity from approximately 75MW per year at the beginning of 2007 to more than 1GW.
Earlier also First Solar has consistently lowered the cost of manufacturing solar modules. It was the first solar company to break the $1 per watt barrier in early 2009.
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First Solar enjoys a distinct cost advantage over its peers due its reliance on low cost thin-film cells. However, the advantage is ebbing fast due to falling polysilicon prices. First Solar’s growth potential and that of the solar industry in the aggregate requires a prudent long-term focus on technological enhancements, capacity build-out and cost minimization. Balancing all the three aspects would be an uphill task.
Competition in the field is becoming tougher by the day for U.S. solar players such as First Solar, who have a huge German exposure in their top line compared to Chinese counterparts such as Suntech Power Holdings Company Ltd (STP) and ReneSola Ltd (SOL), both of whom mainly thrive in their domestic market. Solar subsidies in Germany are falling fast, and First Solar is actively scouting for new markets for its products. We maintain our market Neutral recommendation on the shares.
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SourceLabels: First Solar Inc, FSLR, ReneSola, SOL, Solar Stocks, STP, Suntech Power
Canadian Solar Earnings (CSIQ)
The first quarter report from Canadian Solar Inc. (NASDAQ:CSIQ) was a little better than expected on the earnings front but weak on the top-line, posting a net EPS loss of -$0.13 on revenue of $49.5 million. Analysts had forecast a net EPS loss of -$0.26 on revenue of $54.08 million.
The good news was the promise of a future short-term recovery, with sales recovering from it's low recession numbers, in the last months.
Canadian Solar (CSIQ) is up 23% for today, chart looks like this:
(doubled the price just in the last month)
Other Solar Stocks like SOLF, YGE, TSL and SOL are all above 10%
Labels: Canadian Solar Inc., CSIQ, ReneSola, Solarfun, SOLF, Trina Solar, YGE, Yingli Green Energy Hold
Barclays's take on solarstocks
Barclays Bullish on YGE and JASO, Says Take Profits on CSIQ and SOLFBy Chip Brian, SmarTrend Analytics Team
At the Intersolar trade show in Munich, Germany, Barclays Capital said key themes included the resumption of seasonality in demand, depletion of channel inventory, and that global solar shipments are tracking to the firm's 25% year-over-year decline forecast with potential upside from improved project financing programs. Barclays maintains its selective bias toward the Chinese solar companies it currently rates "Overweight" - Yingli Green Energy (NYSE:YGE) and JA Solar (NASDAQ:JASO). The firm recommends staying on the sidelines on China Sunergy (NASDAQ:CSUN), LDK Solar (NYSE:LDK) and Renesola (NYSE:SOL). Barclays suggested taking profits on Canadian Solar (NASDAQ:CSIQ) and Solarfun Power (NASDAQ:SOLF). Barclays also noted that First Solar's (NASDAQ:FSLR) analyst day on June 24 is a potential catalyst.
SourceLabels: Canadian Solar Inc., China Sunenergy, CSIQ, CSUN, First Solar Inc, FSLR, JA Solar Holdings Co., JASO, LDK, ReneSola, SOL, Solar Stocks, Solarfun, solarstocks, SOLF, YGE
First Solar Inc. new solar plant
LOS ANGELES (Reuters) - Thin film solar module maker First Solar Inc. That agreement would cover the sale of power from a 7.5 megawatt solar plant planned for Blythe, California, about 225 miles east of Los Angeles.
More news from Zacks:
Zacks Analyst Interview Highlights: ReneSola, JA Solar, Solarfun Power and Suntech Power. Zacks.com releases the latest Analyst Interview. Today's interview is with senior analyst Jon Kolb, who discusses ReneSola, Ltd. (NYSE: SOL), JA Solar (Nasdaq: JASO), Solarfun Power (Nasdaq: SOLF) and Suntech Power (NYSE: STP).
A synopsis of today's Analyst Interview is presented below. The full article can be read at http://at.zacks.com/?id=2678.
Ahead of second-quarter earnings season, what sorts of alternative energy stocks would you recommend?
Just a couple weeks back I initiated coverage on ReneSola, Ltd. (NYSE: SOL) as a Buy. The China-based company, incorporated in March 2006, is engaged in the manufacture and sale of solar wafers and related products. In April 2006, the company discontinued the sale of solar modules and concentrated on the production and sale of solar wafers.
Are you positive on the company mostly because you see strength in the solar energy industry?
Through its short history, ReneSola regularly adapted to changing market dynamics. The company is aggressively ramping up its polysilicon and solar wafer production capacities.
full articleThe S&P500 finished higher, probably ending the losing streak we had these last weeks.
Expect Solar Stocks to go higher in the next days, correcting from the lastBearish rally.
Short term
Bullish, Medium and Long term still
Bearish.
Labels: First Solar Inc, FSLR, JASO, ReneSola, Solarfun, Suntech Power
SolarStocks list and Renesola updates
I've found in China Analyst Blog, a nice spreadsheet with plenty information on solarstocks trading in the US markets.
China Analyst: SolarAnd some news regarding ReneSola (NYSE:
SOL):
ReneSola to sell 9 mln ADS at $20.50/ADS in follow-on IPO on NYSE LONDON (Thomson Financial) - Chinese solar wafer manufacturer ReneSola Ltd. said it is to sell a further 9 million American Depositary Shares, each representing two shares of the company, at $20.50 per ADS as part of its follow-on IPO on the New York Stock Exchange.
The company first announced details of the IPO in January 2008, where it placed a total of 10 million ADSs at $13.00 each.
In a statement Wednesday, it said 8.58 million ADSs in today's offering represent new shares being issued by ReneSola.
Yesterday's close of ReneSola (SOL) chart:
Labels: ReneSola, SOL, solar companies, solarstocks
