Solar Stocks Gapping Up
The market should open today with a decent Gap Up.
Let's see how far the Bulls will go. Many solar stocks are gapping more than 3%.
STP 3.2%
TSL 4.6%
CSIQ 2.3%
SolarFun (SOLF) reported earnings and is gaining 11% on the Pre-Market.
FIRST QUARTER 2010 HIGHLIGHTS
Total net revenues were RMB 1,475.8 million (US$216.2 million) in 1Q10, an increase of 17.8% from 4Q09 and an increase of 115.7% from 1Q09.
PV module shipments, including module processing services, reached 150.6 MW, an increase from 110.8 MW in 4Q09 and from 35.7 MW in 1Q09.
Average selling price, excluding module processing services, declined, as expected, to US$1.76 per watt in 1Q10.
Gross profit was RMB 272.5 million (US$39.9 million) and gross margin was 18.5%.
The main Solar Stock ETF looks like this, but expect a good bullish move for today:
Labels: solar ETF, Solar Stocks, Solarfun, SOLF, STP, Suntech Power, TSL
Solar Stocks Plunge
Chinese stocks fell hard on Thursday trailing Asian indices lower. Large cap stocks hold on better than smaller counterparts; the Claymore/AlphaShares Small Cap China ETF (NYSE:HAO) lost three times as much as the large cap proxy, FXI.
Energy, solar stocks weight down indices on stronger dollar and falling oil. Solar stocks dominate the worst performing China ADR universe by noon on Thursday. Suntech Power (NYSE:STP), Solarfun Power (NYSE:SOLF), Canadian Solar (NASDAQ:CSIQ), Yaingli Green Energy (NYSE:YGE) and Trina Solar (NYSE:TSL) make up the worst stocks measured in percentage change on the following screen.
Solar stocks continue the plunge with many Solar Companies dropping more than 10% just for this day.
The Solar Stock ETF quotes: 7.22 -0.54 (-6.96%)
Labels: Bearish, CSIQ, Solar Stocks, SOLF, STP, TSL, YGE
Wells Fargo covering Solar Stocks
An analyst at Wells Fargo initiated coverage on a group of stocks in the Solar space earlier today:
ReneSola (NYSE: SOL) with an Outperform rating and a $9.50-$12 valuation range. Calls ReneSola a "big beneficiary of 2010 demand trends," mainly wafer pricing, margins and protection from its OEM segment if the market turns lower. Shares of ReneSola are down more than 5% today, last trading around $7.06.
Solarfun (Nasdaq: SOLF) with an Outperform rating and a $10-$12.50 valuation range. The firm notes that the company has been historically unappreciated, however, "with a new management team and an improving cost structure, we believe SOLF is leaving the penalty box." Wells Fargo argues that Solarfun has "one of the best risk-reward profiles in the group..." The firm expects Solarfun to report FY10 EPS of $0.92. Solarfun shares are one of the few solar stocks holding onto positive territory today, last trading up 0.5% to $8.39.
Yingli Green Energy (NYSE: YGE) with a Market Perform rating and a $11.50-$14.50 valuation range. The firm said it would like to be more positive on Yingli given that the company boasts a "industry-leading cost structure," however, the FY10 outlook looks to be "already among the most optimistic in the group..." Wells Fargo also believes that the recent polysilicon plant adds risk and that the balance sheet needs cleaning-up. The firm is currently looking for Yingli to report FY10 EPS of $0.94. Shares of Yingli are down 3.1% to $11.87.
Canadian Solar (Nasdaq: CSIQ) with a Market Perform rating and a $18-$23 valuation range. Wells Fargo says exchange rate headwinds and firmer input pricing could be issues for Canadian Solar in the first half of this year. "While H2 comparisons and earnings improvement are pluses, revenue growth and margin structure remain in flux, forcing the company to choose between market share and profits." The firm is looking for Canadian Solar to report FY10 EPS of $1.34. CSIQ shares are up 0.3% to $16.90 today.
Suntech (NYSE: STP) with a Market Perform rating and a $11-$14 valuation range. Wells says "Suntech has one of the best brands in the industry, but we believe the company needs to revamp its cost structure and improve corporate governance, notably its relationship with Global Solar Fund (GSF); Suntech has a high ownership stake in this entity but does not consolidate results. Valuation of 17x 2010E EPS vs. the peer group near 15x leaves little room for stock appreciation, in our view." Shares of Suntech are down 3.2% to $12.62 today.
Source: streetinsider.com
Labels: CSIQ, SOL, solar analysis, Solar Stocks, SOLF, STP, YGE
Barclays Bullish On Solar
Barclays Raises Price Targets On SOLF, FSLR, SOL, CSIQ, TSL, YGEMost Solar Stocks closed higher today, thanks to the Barclays upgrade, with some solar stocks like SOLF, CSIQ or JASO finishing the day up, more than 8%
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 to $25
Trina Solar (TSL) from $23 to $25
Yingli Green Energy (YGE) from $10 to $14
All of these are maintained at Equalweight by Barclays.
Labels: Bullish, CSIQ, First Solar Inc, FSLR, JA Solar Holdings Co., JASO, Solar Stocks, Solarfun, SOLF, TSL
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
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
Suntech Power Swinging up
Suntech Power Holdings Co. seems to be starting another short-term bullish trend for the next week. Other Solar Stocks like SPWRA and SOLF seem to have the same pattern.
Meanwhile there is a good read on istockanalyst regarding Solar Stocks:
Solar Stocks For 2010Upon review, the second quarter wasn't at all bad for solar stocks.
Most household names reported earnings higher than Street estimates, including First Solar (NASDAQ: FSLR: 156.6, 1.8), Suntech (NYSE: STP: 14.98, 0.38), and SunPower (NASDAQ: SPWRA: 30.51, 0.71) — all of which turned a profit.
Several companies also reiterated or raised forward-looking guidance.
But I'd be remiss if I didn't say there was a feeling of anxiety brewing. Some second-tier companies lowered gross margin outlook as a result of falling average selling prices (ASPs). Module prices fell ~9% in the quarter, ranging anywhere from $2.50-$3.00/W, and were expected to decline further in the second half of the year.
Further up the supply chain, prices were also falling for polysilicon, the industry's raw material. Prices have been reduced by more than half and are now hovering in the $50-$60 per kilogram range. Producers like MEMC (NYSE: WFR) need prices above ~$28 to turn any kind of profit.
Full ArticleLabels: solar charts, Solar Stocks, solarstocks, SOLF, SPWRA, STP, Suntech Power
SolarFun Power Holdings
Solarfun Power Holdings Co., Ltd. (ADR) (Public, NASDAQ:SOLF) is gapping up today, around 5%, with the following news:
Solarfun Power Holdings Co., Ltd. ("Solarfun" or "the Company"), a vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, today announced that Jiangsu Linyang Solarfun Co., Ltd., a wholly owned subsidiary of Solarfun, has signed a letter of intent with the government of Hohhot City, the capital city of the Inner Mongolia Autonomous Region in China, to develop two solar projects with an aggregate capacity of 600MW. In support of these two projects, Solarfun also intends to construct a 100MW PV module production facility.
SourceActually most of the solar stocks traded in the US are gapping right now, so it should be an interesting opening today.
Keeping my eyes on the usual stocks: STP, FSLR, CSIQ, SPWRA
Labels: CSIQ, FSLR, Solar News, Solar Stocks, Solarfun, SOLF, SPWRA, STP
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
Solar Stocks Recover
Solar Stocks are recovering from their lows, with record moves up in titles like SunPower Corporation (SPWRA), SolarFun (SOLF) or JA Solar(JASO).
More updates soon
First Solar (Nasdaq: FSLR) up 16.5% to $108.36. Notably, shares of First Solar were down more than 50% in November prior to Friday's rally.
SunPower (Nasdaq: SPWRA) up 30% to $26.75. The stock is one of the best performing solars today as it has been beaten down the most in November -- SunPower has fallen more than 62%.
JA Solar (Nasdaq: JASO) up 36% to $2.86
Solarfun (Nasdaq: SOLF) up 24.6% to $4.05
Canadian Solar (Nasdaq: CSIQ) up 13.3% to $4.60
ReneSola (NYSE: SOL) up 13.6% to $2.67
LDK Solar (NYSE: LDK) up 10.7% to $12.20
Trina Solar (NYSE: TSL) up 22.8% to $7.81
StreetInsider.comLabels: Canadian Solar, CSIQ, FSLR, JASO, LDK, SOL, solarstocks, SOLF, SPWR, SunPower Corp, TSL
SolarStocks on up swing
Solar Energy Stocks started showing some reversal signals yesterday and are confirming today the up swing for the short-term.
FSLR is moving ahead almost 6% followed by SOLF, CSIQ and SPWR.
Expect some upward moves for the next days, here are some charts:
First Solar (FSLR)
SunPower Corp. (SPWR)
And the Solar ETF: Claymore/MAC Global Solar Index (TAN)
Showing some reversal signs.
Labels: Bullish, CSIQ, First Solar, FSLR, SOLF, SPWR, SunPower Corp, TAN
Suntech Power Earnings
Suntech Power Holdings (NYSE: STP) has posted earnings ahead of expectations. The earnings were $0.35 EPS and revenues rose 76% to $434.5 million; First Call estimates were $0.28 and $378 million. The gross margin increased to 22.2% in Q108 compared to 19.0% for Q107.
The company also sees Q2 revenues of $430 to $440 million, above the $426.62 million consensus.
PV cell production capacity was 540MW at end of the first quarter and it is on track to reach its goal of 1GW PV cell production capacity by 2008 year-end.
Suntech shares are up 2% today, contrary to the big corrections we are seeing in SOLF and CSIQ.
Expect some resistance at the $50 level, and support around $42.
Labels: CSIQ, Earnings, SOLF, STP, Suntech Power
Solarfun Power Holdings cut to sell at Goldman Sachs
Shares of Solarfun Power Holdings Co. Ltd. fell Thursday after the China-based solar cell maker was downgraded to sell from neutral at Goldman Sachs, which said it expects to see rising downward pressure on the bottom line and growing financial pressure.
The stock opened 6.5% down at $24.70 on volume of 838,000 shares.
"We believe the 53.8% run-up in Solarfun's share price since last week is mainly fueled by anticipation of strong first-quarter earnings," analyst Cheryl Tang said in a note to clients.
"Though Solarfun raised 2008 shipment guidance and its market presence has been improving ... we believe that, given muted future top-line growth and looming margin and cash flow pressure, its premium valuation is unwarranted."
full articleLabels: downgrade, Goldman Sachs, Solarfun, solarstocks, SOLF
Solarfun (SOLF) up on the Pre-Market
Solarfun Power Holdings (SOLF) is up 10% on the Pre-Market, with earnings coming this week, May 21 before the opening bell.
SOLF is one of the top performers in the latest week, and seems to be recovering from a downward trend since the beginning of the year.
A solarstock to watch this week for sure:
Labels: Earnings, Power, premarket, solar, Solarfun, solarstock, solarstocks, SOLF, Stocks
Good Energies
SOLF finished up 27% on the following news:
Solarfun Power: Good Energies enters into agreement to increase ownership stake in Solarfun to 34.7% SOLF announces that Good Energies has entered into an agreement to purchase 66,745,638 ordinary shares and 281,011 American Depository Shares from current shareholders
full articleOther stocks performed similarly like SOLF and CSIQ.
Even after the recent Crude Oil correction, solar stocks continues to go higher beating new historical highs.
Look here for more updates tomorrow.
Labels: CSIQ, SOLF
Solar Corrections
The indexes made new lows this month, this time with solar stocks going deep into the red, mainly because of the selling pressure of the global markets as well as the recent Crude Oil correction from historical highs, and the new Solar Tax changes in the U.S.
The crude oil price is very correlated to the solar stocks sector, and while the market is not bullish on the short term, the mid to long term hasn't changed.
FSLR lead the losses with -14% just for the day.
Other solar stock movement for the day:
LDK -13,66%
CSIQ -10%
STP -8,78%The newcomers, Solar Fun (SOLF) and Trina Solar(TSL), were both loosing -17% ahead of the whole group.
And the recent headlines for SunTech Power(STP) and the Solar Tax in USA:
Suntech Supplies Solar Modules to 3MW Project for Leading South Korean Power CompanySolar Stocks Tumble On Reports Solar Investment Tax Credits Could Be Left Out Of Energy BillLabels: CSIQ, FSLR, LDK, Solar Stocks, SOLF, STP, TSL
Solar Stocks Plunge
With todays plung on the asian market, solar companies are being dragged down too, with companies like SOLF, TSL and CSIQ going down more than 10%
Trina Solar (TSL) was getting a great performance last week, but today all the gains were evaporated.
STP, SPWR and ENER are recovering from today's lows, but still negative for this session.
More updates soon.
Labels: Alternative Energy, CSIQ, SOLF, SPWR, STP, TSL
Suntech Power Holdings
Suntech Power (NYSE: STP)is one of my top choices for the whole solar industry group of stocks, and is nº1 in terms of % profit since last year, as well as being the most commented on this blog.
And Why? Not just performance, but
profitability and the way it is growing in the solar industry.
There are of course other great performers in solar stocks that you can find in this blog( SOLF and TSL, with above 3% moves for today).
STP stock is trading now around $37 and probably a good buying price for this technical support uptrend:
There is even more affection towards Suntech Power, with a recent motley fool article named
"I Love Suntech Power"I don't know how else to say this, so I'll just be blunt. I am equally attracted to a younger, foreign, exotic beauty: Suntech Power (NYSE: STP).
Will the company return my affection? I believe so. In fact, in the past six months it already has, by appreciating more than 33%. But I'm not just interested in a short, one-time fling. I am looking for a meaningful long-term relationship, and I think this company is ready to make that commitment.
Read the full
Motley Fool ArticleLabels: SOLF, STP, TSL
Canadian Solar and Solar Fun (CSIQ & SOLF)
Canadian Solar is soaring to new relative highs, with last week news about a new contract with Deutsche Solar.
With today's move, CSIQ becomes one of my top choices for the solar industry, next to STP and SPWR.
Another recently IPO'ed company, soaring into new highs, is Solar Fun (SOLF), reaching my short term target of $15. I believe this stock could continue to move further this week:
Watch out for tomorrow, because both these stocks can continue today's movement.
Labels: CSIQ, SOLF, SPWR, STP
