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A few of the solar stocks are beginning to look like they are oversold.

I have listed brief info on a few below:

Solarfun Power (SOLF)

  • PEG = 0.61
  • FPE = 2.59

Look at that FPE number!

MEMC Electronic Materials (WFR)

  • PEG = 0.71
  • FPE = 16.32

Many people think this is the best solar due to its long semiconductor experience and great margins -- 30+%. It also makes its own polysilicone.

Suntech Power (NYSE:STP)

  • PEG = 1.28
  • FPE = 29.53

JA Solar (NASDAQ:JASO)

  • PEG = 1.12
  • FPE = 27.72

TradingMarket.com was recommending this is a good bounce play yesterday. Also BofA issued a buy on this stock recently, saying that the Photon PV conference in Shenzhen should spark all the solar stocks higher.

LDK Solar (NYSE:LDK)

  • PEG = 0.24
  • FPE = 20.59

FPE will go to 6-10 in February when it begins being calculated based on 2009 earnings.

It has also sold it production for all of 2008 and 90% of 2009. It should be relatively unaffected by any recession in the U.S.

Note: These numbers were from Yahoo Finance yesterday.

Another note: The market seems to be going down, but stocks like LDK, with their future production sold out at guaranteed prices for some time to come, will bounce soon. Stocks like SOLF, with fantastic FPEs, seem likely to bounce too. Keep in mind that much of the worldwide solar market is not in the U.S. The IMF predicted a worldwide growth rate of 4.8% this year -- released last week.

Disclosure: Author holds positions in the above mentioned stocks

Source: Some Solar Stocks Becoming Oversold