KansasMan

Akeena Solar: A 2008 M&A Target?

I would caution anyone considering purchasing Akeena. They do not have the skills to compete with Powerlight, SunEdison, or SPG on the large scale, and seem to be struggling to develop a market advantage on the small scale (sub $1,000,000) projects. They also do not appear to be gaining significant market share in any regional location. They do have good marketing, as would be expected with their CEO's experience in the dot com era.

As for Andalay, this product may change the way panels are installed, but they are just one of many company's who have products which will speed installation. I believe Andalay is being produced by Suntech currently.

All of these factors cause me to downgrade the actual market value of Akeena. Until I see some real signs of growth in project margin I will continue to consider them just another service company, which would define a valuation closer to the $3-$5 range. However, Akeena is without a doubt a company to watch.