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RGS Energy, Inc. (RGSE)

  • Tue, May 19, 12:47 PM
  • Tue, May 19, 10:29 AM
    • A day after falling 11% in the wake of a 1:20 reverse split going into effect, RGS Energy (RGSE +12.8%) is up sharply.
    • On a split-adjusted basis, shares remain down 29% from where they traded before RGS reported a 23% Y/Y Q1 revenue drop on May 11, while stating it's looking to raise up to $11.5M in new financing.
    | Comment!
  • Mon, May 18, 12:46 PM
  • Mon, May 11, 4:22 PM
    • Real Goods Solar (NASDAQ:RGSE): Q1 EPS of -$0.06
    • Revenue of $10.61M (-22.9% Y/Y)
    • Press Release
    | Comment!
  • Fri, May 1, 12:59 PM
    • RGS Energy (NASDAQ:RGSE) has surged on volume of 6.9M shares, well above a 3-month daily average of 2.7M. The gains come a day after the U.S. solar installer closed just $0.02 above a 52-week low of $0.18.
    • RGS (current market cap of $19M) still trades at a fraction of a 52-week high of $3.20. Shares sold off a month ago after the company posted its Q4 report.
  • Wed, Apr. 1, 6:09 PM
    • RGS Energy (NASDAQ:RGSE) fell 7% today to $0.25 in the wake of its Q4 report, making a new low of $0.23 along the way.
    • Revenue from continuing ops rose 2% Y/Y in Q4 to $18.4M. Residential ASPs rose 2.3% Q/Q and 20% Y/Y, but rooftop deployments fell to 496 from 573 a year ago; the repeal of Missouri and Colorado solar incentives are blamed. Residential gross margin fell to 11.8% from 21.3%.
    • Backlog rose 5.6% Q/Q and 119.5% Y/Y to $61.7M. RGS, which just raised funds through a stock/warrant offering (and announced big job cuts soon afterwards), had $5.4M in cash and available borrowings as of March 23.
    • Q4 "cash inflow" was $600K, a marked improvement from Q3's -$6.2M. However, RGS adds a "lack of favorable vendor terms and the reduction of the line-of-credit during the fourth quarter prevented the company from having sufficient access to solar panels to convert its backlog." It's counting on its recent fund-raising efforts and job cuts to address the issue.
    • Q4 results, earnings release (.pdf)
    | Comment!
  • Wed, Apr. 1, 6:48 AM
    • Real Goods Solar (NASDAQ:RGSE): Q4 net income of -$13.39M.
    • Revenue of $18.44M (+2.0% Y/Y)
    • Press Release
    | Comment!
  • Mon, Mar. 30, 5:35 PM
  • Tue, Mar. 24, 2:24 PM
    • Buoyed this year by decent Q4 numbers, solid 2015 guidance, and YieldCo news, solar stocks are adding to their gains today even as the Nasdaq barely budges. The Guggenheim Solar ETF (TAN +0.7%) is up 35% YTD and nearing a 52-week high of $47.00.
    • Chinese firms are adding to last week's gains - JinkoSolar (JKS +3.7%), ReneSola (SOL +3.3%), Daqo (DQ +4.8%), Trina (TSL +1.9%), JA Solar (JASO +2.7%), and China Sunergy (CSUN +12.5%) stand out. Beijing recently hiked its 2015 solar installation target by 2.8GW to 17.8GW (up from 2014's 14GW), while setting no specific targets for utility vs. distributed solar installations. The lack of utility/distributed targets is expected to make the goal easier to hit.
    • U.S. names aren't getting left out: First Solar (FSLR +3.5%) and SolarCity (SCTY +2.1%) are rallying, as are microcaps RGS Energy (RGSE +6.5%) and Solar3D (SLTD +12.7%). Solar3D, a California installer, has risen 58% over the last 4 trading days.
  • Tue, Mar. 17, 8:53 AM
    • RGS Energy (NASDAQ:RGSE) +10% premarket after renewing its revolving line of credit with Silicon Valley Bank and loans with Riverside Fund III.
    • "The extension of our line of credit and investor loans, coupled with our recently completed public offering, significantly strengthen our financial position," said CEO Dennis Lacey.
    • The latest amendment to the company's credit facility with SVB provides RGS Energy with a $5M revolving line of credit through March 15, 2016, while the amendments to the loans from Riverside extend $3.15M in loans through March 31, 2016.
  • Mon, Mar. 2, 5:30 PM
    • A week after pricing a complex stock warrant/offering, and two weeks after issuing a Q4 warning, RGS Energy (NASDAQ:RGSE) states it's cutting 100 jobs (30% of its workforce) over the next few months. $140K-$240K worth of restructuring charges are expected, as well as a $70K non-cash impairment charge.
    • Much of the restructuring will center around RGS' California ops, where the company will "replace its offices, warehouses, field sales and construction teams in California with greater utilization of call center e-Sales and the company's Authorized Integrator Program for solar installations." Most of the actions are expected to be finished in Q1.
  • Tue, Feb. 24, 2:58 PM
    • RGS Energy (RGSE -29.9%) has priced its stock/warrant offering. The company is selling units consisting of one share and four warrants at $0.50 apiece.
    • Not your standard offering: The warrants include a Series A warrant to buy half of one share for $0.50, a Series B warrant to buy shares for "a 'stated amount' equal to an investor's pro rata share of $8 million based on the aggregate purchase price paid by such investor for Units in the Offering compared to the aggregate purchase price paid by all investors for Units in this offering," and a Series C warrant to "purchase up to 50% of that number of shares of Common Stock actually issued upon exercise of the Series B Warrant for a price of $0.50 per share."
    • The Series A and C warrants are exercisable for 5 years starting six months after the closing of the offering. The Series B warrants are exercisable for a year after the offering's closing.
    • Initial gross proceeds are set to total $3.5M. The company can raise up to $8M more by effecting a mandatory exercise of the Series B warrants.
    • Shares have given back nearly all of yesterday's big gains, continuing the roller-coaster ride they began a week ago.
    • Yesterday: RGS falls after announcing $3.5M offering
  • Tue, Feb. 24, 7:23 AM
    • RGS Energy (NASDAQ:RGSE) has more than recovered from its fall following its $3.5M offering announcement yesterday.
    • Shares were down 14.3% after the market close, but have now bumped up 13% premarket. RGS has been flying this past week, gaining 45.6% in regular trading yesterday.
    • Previously: RGS Energy -14.3% after announcing $3.5M offering (Feb. 23 2015)
  • Mon, Feb. 23, 6:25 PM
    • RGS Energy (NASDAQ:RGSE) has commenced and offering of $3.5M worth of units consisting of common stock and warrants. The company had just $1.95M in cash (to go with $4.35M in line-of-credit borrowings) at the end of 2014.
    • Shares have fallen to $0.60 AH. The offering follows a 5-day tear during which RGS' shares rose 169%. They gained 45.6% in regular trading today.
    • Earlier: RGS Energy continues soaring after SA author makes bull case
  • Mon, Feb. 23, 1:49 PM
    • RGS Energy (RGSE +32.8%) is now up 145% since Feb. 17, the day shares plunged in response to the company's Q4 warning. The U.S. solar installer is at its highest levels since December.
    • This morning, SA author Simple Investment Ideas chalked up RGS' rally to enthusiasm about its financing/installation partnership with East Coast rooftop system provider Centrosolar. "This deal is set to expand RGS Energy's capacity for installs by 1-2 MWs per month, which is a big deal considering the company's relatively small size."
    • The author also praises RGS for "restructuring its business to focus on highly profitable lease/[power purchase agreement] solar products," and sees its access to capital growing as "financing institutions become more accepting of solar lease/PPA products." The U.S. residential solar market's rapid growth is also highlighted.
    • The author does caution RGS is "running dangerously low on cash," but nonetheless sees a favorable risk/reward. "In terms of the company's book value to market capitalization ratio, RGS Energy trades at magnitudes cheaper than its larger counterparts, namely SolarCity and Vivint Solar."
  • Fri, Feb. 20, 10:42 AM
    • After getting clobbered on Tuesday thanks to its Q4 pre-announcement, RGS Energy (RGSE +27.6%) has gone in a very different direction. Shares are now up 36% from where they traded prior to the pre-announcement.
    • With the solar installer's market cap only at $20M at the time of the pre-announcement (it's now up to $27M), a lot of bad news was priced in. And while the company reported weaker-than-expected Q4 sales and an $11M impairment charge, it also reported its cash balance rose slightly Q/Q in Q4.
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Company Description
Real Goods Solar Inc is a residential and commercial solar energy engineering, procurement, & construction firm. It offers services, including design, procurement, permitting, build-out, grid connection and warranty & customer satisfaction activities.