Quote & Headlines
5d 1m 3m 1y 5y 10y
To learn more about Seeking Alpha PRO, click here.
PR Newswire (Thu, 6:00AM)
PR Newswire (Dec 9, 2013)
PR Newswire (Dec 6, 2013)
PR Newswire (Dec 5, 2013)
PR Newswire (Dec 3, 2013)
PR Newswire (Nov 25, 2013)
PR Newswire (Nov 22, 2013)
PR Newswire (Nov 20, 2013)
PR Newswire (Nov 19, 2013)
PR Newswire (Nov 18, 2013)
PR Newswire (Nov 15, 2013)
PR Newswire (Nov 13, 2013)
PR Newswire (Oct 16, 2013)
PR Newswire (Sep 17, 2013)
PR Newswire (Sep 11, 2013)
PR Newswire (Sep 10, 2013)
PR Newswire (Sep 9, 2013)
PR Newswire (Aug 30, 2013)
PR Newswire (Aug 29, 2013)
PR Newswire (Aug 27, 2013)
at Fox Business (May 21, 2013)
at CNBC.com (Jan 2, 2013)
SOL vs. ETF Alternatives
Tuesday, Dec 1011:46 AM
Tuesday, Dec 1011:46 AM| 5 Comments
- A day after solar stocks sold off amid concerns about a possible 4GW cap on 2014 Chinese utility-scale solar installations, shares are bouncing with the help of a Deutsche note that calls such fears overblown, and states checks indicate the Chinese government has become "even more serious" about achieving its 35GW 2015 cumulative installation target.
- In spite of utility cap worries, Deutsche's checks suggest "the policy outlook for large [solar] projects in China has improved since mid-November," with approval times having been cut. Moreover, provinces haven't shown any sign of being issued targets or quotas related to an installation cap.
- The firm also thinks a new Chinese solar subsidy program (focused on self-consumption) that kicks in next month will offset the expiration of China's Golden Sun subsidy program, and that a more streamlined incentive process will fuel installation growth.
- Deutsche is reiterating Buys on Yingli (YGE +4.3%) and Trina (TSL +5.9%). Also up: FSLR +2.6%. HSOL +9.7%. CSIQ +5.9%. JKS +6.1%. SOL +3.7%.
- Solar ETFs: KWT, TAN
Friday, Dec 612:48 PM|Friday, Dec 612:48 PM| Comment!
Friday, Dec 612:25 PM
Friday, Dec 612:25 PM| 12 Comments
- Even as markets rally in response to a favorable NFP report, solar stocks are giving back some of this year's gains. ReneSola (SOL -10.3%), which tumbled yesterday after positing Q3 results and announcing it's shuttering a polysilicon plant, is the biggest decliner.
- Credit Suisse has cut its ReneSola PT to $3 from $5, while reiterating an Underperform. The firm notes the plant shutdown removes 40% of ReneSola's polysilicon capacity, and undermines arguments the company will benefit from rising polysilicon prices in 2014/2015. It's also worried about ReneSola's "relatively low margins" and limited downstream (solar plant) exposure.
- One positive piece of industry news: A Japanese trade group estimates Japan's solar cell/module shipments rose 25% Q/Q and 231% Y/Y in Q3 to 2.075GW. Imports accounted for 58% of shipments, and rose 30% Q/Q and 540% Y/Y.
- Rising shipments to Japan have already lifted the sales and margins of many Chinese module suppliers. First Solar (FSLR -1.9%) announced its entry into the market last month.
- Notable solar decliners: YGE -6.7%. TSL -3.5%. CSIQ -2.7%. JKS -2.6%. LDK -2.1%. JKS -2.6%. JASO -2.2%.
- Solar ETFs: KWT, TAN
Thursday, Dec 512:53 PM|Thursday, Dec 512:53 PM| 2 Comments
Thursday, Dec 59:45 AM
Thursday, Dec 59:45 AM| 3 Comments
- In its Q3 report, ReneSola (SOL -17.7%) states it has decided to "permanently cease production" at its Phase I polysilicon plant, following unsuccessful effort to lower its cost structure. A $202.8M charge is being taken on the plant's assets.
- The company saw Q3 wafer/module shipments of 851MW, roughly flat Q/Q but above guidance of 730MW-750MW. Module shipments rose 6.6% Q/Q to 462.9MW, and are expected to be in a range of 490MW-510MW in Q4.
- ReneSola is upping its full-year wafer/module shipment range to 3GW-3.1GW from a prior 2.8GW-3GW.
- Q3 gross margin was 8.1%, up from 7.3% in Q2 and -18% a year ago (no typo), and in-line with guidance of 7%-9%. Investors may have wanted more in light of the big GM gains posted by some peers. Q4 GM is expected to be in a range of 9%-11%.
- Strong sales to the U.S. and other overseas markets improved ReneSola's ASPs; the company sees the trend continuing in Q4.
- Cash/equivalents totaled $438.5M at the end of Q3, and total debt/borrowings $1.53B.
- Q3 results, PR
Thursday, Dec 59:09 AM
Thursday, Dec 57:03 AM
Thursday, Dec 512:05 AM
Wednesday, Dec 45:30 PM
Tuesday, Nov 2610:58 AM
Tuesday, Nov 2610:58 AM| Comment!
- With a lot of good news having been priced in this year, several Chinese solar stocks are selling off after JA Solar and LDK Solar both provided mixed Q3 numbers and fairly good guidance (I, II). LDK (LDK -2.5%), which continues to deal with major liquidity/debt payment issues (the company just reached a new two-week debt forbearance deal with creditors), has given up its premarket gains.
- Notable decliners: STP -10.4%. YGE -3.8%. SOL -2.9%. DQ -2.7%. TSL -2%.
Tuesday, Nov 192:41 PM
Tuesday, Nov 192:41 PM| 32 Comments
- After steadily rising over the last three weeks, 3D printing stocks are reversing course in dramatic fashion today in the absence of major news. Solar stocks, which have also seen plenty of good days lately, are also selling off hard.
- 3D printer makers 3D Systems (DDD -6.1%), Stratasys (SSYS -7.5%), ExOne (XONE -7.7%), and Voxeljet (VJET -14.1%) are all off sharply, as is custom parts maker Proto Labs ([[PRLB -4.8% - sometimes hyped as a 3D printing play).
- Trina (TSL -4.9%), which provided a big Q3 beat and guidance hike this morning, has turned negative after shooting higher in premarket trading. Other solar decliners: YGE -10.9%. FSLR -4.6%. SOL -6.4%. JASO -6.4%. CSUN -5.6%. JKS 5.7%. DQ -5.5%. SUNE -5.5%. CSIQ -5.3%. SPWR -7.1%.
Monday, Nov 1810:51 AM|Monday, Nov 1810:51 AM| Comment!
Tuesday, Nov 129:15 AM|Tuesday, Nov 129:15 AM| Comment!
Thursday, Nov 72:22 PM
Thursday, Nov 72:22 PM| 3 Comments
- With shares up over 5x YTD going into the company's Q3 report, SolarCity (SCTY -14%) investors are taking profits in the face of a Q3 beat and above-consensus guidance.
- Credit Suisse (Outperform, $75 PT) is defending SolarCity today, while praising the company's operating leverage and incremental retained value per watt (rose 35% Q/Q in Q3 to $1.9)1.
- Goldman (Neutral, $65 PT) also talks up SolarCity's value retention, as well as its declining operational costs/watt (fell to $0.59/watt from $0.80/watt in Q2). But it also cautions expectations were high, points out "no volume upside was provided" for 2013/2014 deployment targets, and that there's "limited clarity" for SolarCity's solar lease securitization efforts.
- On its CC (transcript), SolarCity mentioned it invested $200M+ in solar deployments in Q3, and financed another $86M. The company has been raising funds for its deployment efforts at a breakneck pace.
- Many solar peers are also off sharply on a rough day for tech momentum play. Thanks to good earnings news, the group rallied sharply both on Monday and last Friday. In addition to SolarCity, China Sunergy's poor guidance could also be playing a role.
- Solar decliners: FSLR -4.2%. SPWR -6.1%. SOL -5.1%. JKS -4.8%. YGE -4.7%. JASO -6.5%. DQ -10.2%. SPWR -6.1%. LDK -5.5%. SUNE -3.8%.
Monday, Nov 412:56 PM
Monday, Nov 412:56 PM| 3 Comments
- Positive Q3 guidance revisions from Canadian Solar (previous) and Daqo (DQ +11.2%) are fueling another massive rally in solar stocks, some of which jumped last Friday thanks to blowout Q3 numbers from First Solar (FSLR +4.6%).
- Canadian hiked the midpoint of its Q3 module shipment guidance range by more than 10%, and the midpoint of its gross margin guidance range by 800 bps. Daqo has upped its polysilicon shipment range to 1,200-1,275 MT from a prior 1,000 MT, albeit while slightly lowering its wafer shipment guidance to 6.5-6.6 MT from prior 6.8 MT (shipping delays are blamed).
- The guidance hikes follow a string of positive Q2 reports from Chinese solar firms in August, as companies saw both their sales and margins benefit from growing local demand, diminishing overcapacity, and strong shipments to the high-margin Japanese market. Credit Suisse recently predicted improving demand could lead excess Chinese supply to evaporate by late 2014 or 2015.
- Also: Suntech (STP +13.6%) has officially reached a deal to sell its large and bankrupt Wuxi, China unit to solar cell maker Shunfeng (previous), SunPower (SPWR +10.9%) has announced it's buying module cleaning robot developer Greenbiotics, and SolarCity (SCTY +16.4%) has announced (as part of its seemingly non-stop financing binge) it's selling $54.4M in solar asset-backed notes maturing in Dec. 2026.
- Today's winners, aside from the aforementioned companies: JKS +9.8%. JASO +9.2%. RSOL +8.3%. LDK +6.5%. HSOL +5.2%. YGE +7.4%. CSUN +6%. SOL +6.9%. SUNE +3.5%. TSL +9.7%.
- Solar ETFs: KWT, TAN
Friday, Nov 111:22 AM
Friday, Nov 111:22 AM| Comment!
- A solid majority of analysts covering First Solar (FSLR +15.5%) have maintained neutral ratings for a while, even as shares took off as part of a broader solar rally, and none have issued upgrades following the company's huge Q3 beat and mixed full-year guidance.
- Deutsche (Hold) estimates early revenue recognition for the Desert Sunlight project provided a $0.15 Q3 EPS boost, and that a lower tax rate and operational improvements provided a $0.25 boost. The firm sees "limited upside to 2014 estimates."
- Needham (Hold) offers a similar take: It's encouraged by First Solar's cost improvements and rising bookings, but is worried about the potential for lower 2014 earnings and "uncertainty" regarding 2015 growth.
- First Solar mentioned on its CC (transcript) its core module cost/watt ($0.49) is the "lowest in the industry" following a big Q3 drop - the company's cost advantage has been narrowing in recent years as polysilicon prices crash - and that it's testing modules with a 14.1% conversion efficiency; average Q2 efficiency was 13.3%, and lead-line efficiency 13.9%. Ont the other hand, First Solar says it's seeing a "lower system ASP environment."
- 16.8% of the float was shorted as of Oct. 15; that's probably assisting with today's rally. Also higher: CSIQ +7.2%. GTAT +6.3%. RSOL +8.9%. YGE +3.7%. SUNE +2.4%. SOL +3.6%.
- Update (12:35 PM): First Solar finally catches an upgrade: S&P has lifted shares all the way to Buy from Sell.