real-time news and commentary for investors
Monday, Oct 14
U.S. solar names rally again
- SunPower (SPWR +5.2%), First Solar (FSLR +2.7%), and SunEdison (SUNE +3.4%) are all adding to the Friday gains they saw after SolarCity provided strong Q3 installation data and (more importantly) issued better-than-expected 2014 guidance. SolarCity is taking a breather following Friday's giant move higher.
- Last week's signing of a California solar bill that effectively allows solar power producers (residential or commercial) to sell back as much excess power to the grid as they generate (the bill could pave the way for similar legislation in other states) could also be providing a lift to industry sentiment.
- Short interests for the group remain high. SunPower had 27.7% of its float shorted as of Sep. 30, First Solar had 15.2%, and SunEdison 10%.