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Short Interest in Solar Stocks Continues to Rise (CSIQ, FSLR, GTAT, WFR, SPWR, JASO, LDK, STP, TSL, YGE)

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By 24/7 Wall St.

Alternative Energy sources

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We have tracked the short interest in the following North American Solar companies as of February 28: Canadian Solar Inc. (NASDAQ: CSIQ), First Solar Inc. (NASDAQ: FSLR), GT Advanced Technologies Inc. (NASDAQ: GTAT), MEMC Electronic Materials Inc. (NYSE: WFR) and SunPower Corp. (NASDAQ: SPWR). In the Chinese solar sector we tracked the following short interest changes: J.A. Solar Holdings Co. Ltd. (NASDAQ: JASO), LDK Solar Co. Inc. (NYSE: LDK), Suntech Power Holdings Co. Ltd. (NYSE: STP), Trina Solar Ltd. (NYSE: TSL) and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE).

For China-based firms, the percentage of shares short is not available because the companies are also listed on other exchanges.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest rise 3.5% to 2.14 million shares, which is 7.1% of the company’s total float.

First Solar Inc. (NASDAQ: FSLR) short interest increased by 6.4% to 17.77 million shares, which represents 29.5% of the company’s float.

GT Advanced Technologies Inc. (NASDAQ: GTAT) showed an increase of 8.3% in short interest, to 38.26 million shares, or about 32.2% of GT‘s float.

The short interest in MEMC Electronic Materials Inc. (NYSE: WFR) grew 2.1% to 16.74 million shares, about 7.3% of MEMC‘s float.

SunPower Corp. (NASDAQ: SPWR) saw short interest rise by 11.9% to 9.93 million shares, 25% of the company’s total float.

J.A. Solar Holdings Co. Ltd. (NASDAQ: JASO) showed an increase of 15.4% in short interest to 3.36 million shares.

LDK Solar Co. Inc. (NYSE: LDK) saw short interest decline of 19% to 3.55 million shares.

Suntech Power Holdings Co. Ltd. (NYSE: STP) showed a rise of 4.2% in short interest to 28.46 million shares.

Trina Solar Ltd. (NYSE: TSL) saw short interest rise of 5.6% to 19 million shares.

Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) showed a rise of 5.6% in short interest to 5.67 million shares.

Shares of the Chinese solar stocks continue to be volatile, and share prices are tied to news related to government spending on planned solar installation in China during 2013. First Solar’s weak earnings brought some shorts back. And short interest in SunPower jumped again, likely due to the belief that there is not much good news coming from the firm, which has seen share prices spike in the first few months of the year.

Filed under: 24/7 Wall St. Wire, Alternative Energy, Green Biz, Short Interest, Technology Companies Tagged: CSIQ, FSLR, GTAT, JASO, LDK, SPWR, STP, TSL, WFR, YGE

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Source: FULL ARTICLE at DailyFinance

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Another Bloody Nose for Solar Stocks (YGE, FSLR, GTAT, AMAT, SPWR, WFR, LDK, TSL, JASO, STP)

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By 24/7 Wall St.

Solar rooftop installation

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Chinese solar maker Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) reported fourth-quarter and full-year 2012 earnings this morning. Revenues were much better than expected, but earnings remained below estimates. Gross margins came in at -8.5% for the fourth quarter, which was considerably better than the gross margins of -22.7% in the third quarter.

The poor report is rippling through the solar sector today, pulling share prices down for First Solar Inc. (NASDAQ: FSLR), GT Advanced Technologies Inc. (NASDAQ: GTAT) and Applied Materials Inc. (NASDAQ: AMAT). Solar maker SunPower Corp. (NASDAQ: SPWR) fell earlier this morning, but an initiation of the stock with an Outperform rating at Northland Capital has pulled SunPower’s shares up to a small gain. Wafer maker MEMC Electronic Materials Inc. (NYSE: WFR), like SunPower, dived earlier, but has since recovered to post a small gain.

Shares of Yingli are down 4.6% this morning, at $2.29 in a 52-week range of $1.25 to $4.60. Other Chinese solar stocks, like LDK Solar Co. Ltd. (NYSE: LDK), Trina Solar Ltd. (NYSE: TSL), J.A. Solar Holdings Co. Ltd. (NASDAQ: JASO) and Suntech Power Holding Co. Ltd. (NYSE: STP), are trading down from about 1.2% to 3.8% following Yingli’s results.

Filed under: 24/7 Wall St. Wire, Alternative Energy, China, Green Biz, Technology Companies Tagged: AMAT, FSLR, GTAT, JASO, LDK, SPWR, STP, TSL, WFR, YGE

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Source: FULL ARTICLE at DailyFinance

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What's Behind the Rally in Solar Stocks

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By 24/7 Wall St.

Solar rooftop installation

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Over the past three months, the poorest performing solar stock has increased by more about 53% and the best performing stock is up about 235%. So far, analysts’ price targets on the stocks have not kept pace, which indicates that either they are not convinced that this bull run has legs or they have missed the boat.

A number of factors are playing into the sharp gains for shares of SunPower Corp. (NASDAQ: SPWR), up 235%; First Solar Inc. (NASDAQ: FSLR), up 53%; Canadian Solar Inc. (NASDAQ: CSIQ), up about 143%; Suntech Power Holdings Co. Ltd. (NYSE: STP), up 99%; Trina Solar Ltd. (NYSE: TSL), up 116%, LDK Solar Co. Ltd. (NYSE: LDK), up 121%; and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE), up 152%. Two publicly traded solar installers, Real Goods Solar Inc. (NASDAQ: RSOL) and SolarCity Corp. (NASDAQ: SCTY), are up more than 100% and 50%, respectively, in the past three months. Even MEMC Electronic Materials Inc. (NYSE: WFR) is up 128%, and it only makes polysilicon.

One factor is the belief that polysilicon prices have hit bottom and will begin to rise again as demand from China, the United State and perhaps even Germany picks up. If this is true, then Chinese makers will have to take capacity permanently out of production to help bolster prices. That is problematic.

A second factor is legislation pending in the U.S. Congress that would grant renewable energy firms like solar producers, biofuels producers and others to convert their businesses to master limited partnerships (MLPs) or real-estate investment trusts (REITs). If the law is changed, renewable energy firms could see their cost of financing drop from around the 30% demanded by current tax equity schemes to around 10%.

Just a quick look at a few of the solar players illustrates the disconnect between share prices and analysts’ target prices. First Solar closed yesterday at $36.13, compared with a consensus price target of $26.45. SunPower closed at $13.39, versus a target of around $8.35. Even LDK closed near $2 a share, compared with a target of just over $1 a share.

Given that none of these solar players has a positive trailing P/E ratio, and only a few have positive forward multiples, perhaps analysts are just being cautious about the new wave of enthusiasm for solar stocks. It remains to be seen if investor enthusiasm will pull the analysts along with it or whether the lagging price targets have remained low for a reason. Now, though, it is clear that the market is way ahead of the analysts.

Filed under: 24/7 Wall St. Wire, Alternative Energy, Analyst Calls, China, Green Biz, International Markets, Technology Companies Tagged: CSIQ, FSLR, LDK, RSOL, SCTY, SPWR, STP, TSL, WFR, YGE

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Source: FULL ARTICLE at DailyFinance

Science & Technology

Solar Stocks' Short Interest Swings Mostly Moderate (CSIQ, FSLR, GTAT, WFR, SPWR, JASO, LDK, STP, TSL, YGE)

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By 24/7 Wall St.

Solar Farm Desert

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We have tracked the short interest in the following North American Solar companies as of January 31: Canadian Solar Inc. (NASDAQ: CSIQ), First Solar Inc. (NASDAQ: FSLR). G.T. Advanced Technologies Inc. (NASDAQ: GTAT), MEMC Electronic Materials Inc. (NYSE: WFR) and SunPower Corp. (NASDAQ: SPWR).

In the Chinese solar sector we tracked the following short interest changes: J.A. Solar Holdings Co. Ltd. (NASDAQ: JASO), LDK Solar Co. Inc. (NYSE: LDK), Suntech Power Holdings Co. Ltd. (NYSE: STP), Trina Solar Ltd. (NYSE: TSL) and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE).

For China-based firms, the percentage of shares short is not available because the companies are also listed on other exchanges.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest rise 4.5% to 2.04 million shares. That is 6.8% of the company’s total float.

First Solar Inc. (NASDAQ: FSLR) short interest fall by 3.6% to 18.3 million shares, which represents 30.4% of the company’s float.

GT Advanced Technologies Inc. (NASDAQ: GTAT) showed a decrease of 0.1% in short interest to 36.36 million shares, about 30.8% of GT’s float.

MEMC Electronic Materials Inc. (NYSE: WFR) saw a decline of 7.3% in short interest to 16.62 million shares, or about 7.3% of MEMC‘s float.

SunPower Corp. (NASDAQ: SPWR) saw short interest rise by 2.9% to 6.65 million shares, which is 16.7% of the company’s total float.

JA Solar Holdings Co. Ltd. (NASDAQ: JASO) showed an increase of 6.4% in short interest to 2.92 million shares.

LDK Solar Co. Inc. (NYSE: LDK) saw short interest drop 23.2% to 4.29 million shares.

Suntech Power Holdings Co. Ltd. (NYSE: STP) showed a rise of 1.7% in short interest to 25.55 million shares.

Trina Solar Ltd. (NYSE: TSL) saw short interest drop 2.4% to 18.01 million shares.

Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) showed a rise of 11.3% in short interest to 4.75 million shares.

Shares of the Chinese solar stocks have been volatile and mostly tied to news related to government spending on planned solar installation in China during 2013. First Solar and SunPower have lost some of their interest to short sellers as the companies have managed to improve on their installation and operations work. LDK‘s big swing is entirely due to the fact that the government has ridden to its rescue.

Filed under: 24/7 Wall St. Wire, Alternative Energy, Green Biz, Short Interest, Technology Companies Tagged: CSIQ, FSLR, GTAT, JASO, LDK, SPWR, STP, TSL, WFR, YGE

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Source: FULL ARTICLE at DailyFinance

Science & Technology

Citigroup Predicts Parting Clouds for Battered Solar Stocks (C, SPWR, WFR, FSLR, AEIS, TSL, YGE, STP)

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By 24/7 Wall St.

Alternative Energy sources

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The never-ending quest to produce energy from something other than fossil fuels has provided Wall St. firms and investors the challenge of constantly trying to determine which companies are legitimate. After years of boom and bust cycles, the solar sector has finally purged some of the industry excess and may be poised to become relevant again. That is the take of Citigroup Inc. (NYSE: C) in a fresh research call. The proverbial Wall St. question will emerge, “Is it different this time?”

Citigroup is launching an ambitious global solar sector research team that will have analysts in the United States, Europe and Asia. While the near-term picture for the industry and the sector remains price driven and very volatile, in the longer term the analysts see every reason to remain positive. The sector will continue to exhibit growth, driven by underlying economics and fuel diversity, with legislatively driven spending still present but taking more of a back seat.

The solar research team at Citigroup started four solar stocks with Buy ratings, two at Neutral and one with a dubious Sell rating. We are seeing real gains on this on the select names. The stocks started with Buy ratings are:

Sunpower Corp. (NASDAQ: SPWR) is not only their top-rated stock but it is added to the U.S. High Conviction Buy list (top picks live). The target price is $12, though the consensus Wall St. estimate is only $5.50, which is less than current trading levels. Sunpower is up almost 5% today at $8.40.

MEMC Electronic Materials Inc. (NYSE: WFR), a former high flyer, has a price target at Citigroup of $5.40. The consensus estimate is at $4.00. Surprisingly, this battered solar (and chip) wafer-maker is up only 1%.

First Solar Inc. (NASDAQ: FSLR) is yet another former high flying solar stock, and the Citigroup price target is $41, while the Thomson/First call estimate is at $24.00. Shares are up more than 4% and back above $30 so far.

Advanced Energy Industries Inc. (NASDAQ: AEIS) was given a price target of $20, and that is substantially higher than the consensus of $13.50. This one is up almost 4.5% at $16.60 on the news.

Citigroup rates Trina Solar Ltd. (NYSE: TSL) and Yingli Green Energy Holding Co. Ltd (NYSE: YGE) at Neutral.

Suntech Power Holdings Co. Ltd. (NYSE: STP) was initiated with the Sell rating. Its shares are getting hit with a drop of more than 3% to $1.53 so far today.

One of the main thesis points for the Citigroup team is that while solar may have reached socket parity in many global regions at the residential level (socket parity refers to solar panels offering cheaper electricity than power from the grid), utility scale parity is expected to advance over the next few years. Besides pure economics, the need for utilities to diversify their fuel mix is crucial to insulating them from volatility and the likely upward movement in gas prices over the longer term, a need that was well-documented as they surveyed …read more
Source: FULL ARTICLE at DailyFinance