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Business, Finance, Occupation & Industry

Why Solar Stocks Were on Fire This Week

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By Travis Hoium, The Motley Fool

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Solar stocks were on fire this week, soaring double digits on a variety of positive news items. China continues to support a few specific players, major projects are now under way, and analysts are starting to buy into the solar industry.

FSLR Total Return Price data by YCharts

These factors have helped solar this week, so here’s what investors need to know.

China continues to prop up solar
Suntech Power and LDK Solar have both defaulted on loans, but that doesn’t appear to be a clear sign that China is willing to let its solar industry consolidate. These two companies along with countless others would be bankrupt in the U.S. or Europe but investments from state-owned entities and loans from state-owned banks have propped up the entire industry.

This week, LDK Solar received a cash infusion of $25.8 million when Fulai Investments agreed to buy 25 million shares. This is the second investment by the company and may help LDK pay back loans it defaulted on last week.  

Yingli Green Energy was also the beneficiary of a $165 million loan agreement with the China Development Bank, which is owned by the Chinese government. This includes a one-year, $110 million loan and a three-year, $55 million loan for working capital needs. Yingli is one of the most indebted companies in the industry, but the government doesn’t look like it is willing to let it fail.  

The reason China is propping up solar is simple. It sees the industry as a key employer and an industry that can grow exports. The government is willing to put billions of dollars behind manufacturers and even solar installations to make sure the industry survives. It’s less clear what that means for U.S. investors. Will debt holders eventually hold all of these companies, which are effectively insolvent anyway? There’s little equity value unless these companies are propped up indefinitely and can grow out of their debt obligations. With losses growing and the next generation of solar products on its way, I don’t see China being a good investment for U.S. investors, even if these companies do survive.

Utility projects get under way
A number of major utility projects marked milestones this week. NRG Energy‘s 26 MW Solar Borrego I Project had its ribbon-cutting and is now producing at full capacity. The company announced a milestone for its electric vehicle to grid, or eV2g, project. The PJM Interconnection will now be a resource for the project in the hopes of making electric vehicles a backup power source for the grid. This has been an academic idea for a while, and now there’s hope it will become an economic reality.

SunEdison, a subsidiary of MEMC Electronic Materials , announced an agreement with Fox Energy, a subsidiary of Foxconn Technology, to manufacture 350 MW of solar modules. This is part of a virtual integration plan where SunEdison will have agreements with outside

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

First Solar Outlook Pushes Entire Solar Industry Higher

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By Travis Hoium, The Motley Fool

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Maybe solar demand will be far better than we expected in the first half of 2013. That’s the thesis today after First Solar released a higher than expected full-year financial target.

At a conference today, First Solar said it expects 2013 sales to be between $3.8 billion and $4.0 billion, with earnings per share of $4.00-$4.50. That’s well above the $3.15 billion in sales and $3.46 per share earnings analysts had expected. When the numbers were announced, First Solar‘s shares shot higher and are up a whopping 48% at the time of this writing. 

Drawing wild conclusions
These numbers are outstanding and they’ve pushed the entire industry higher today. Yingli Green Energy is up 19% today, Trina Solar has jumped 12%, and LDK Solar is up 26% on hope that this will increase sales. Yingli and LDK, in particular, are two of the most highly leveraged companies in solar — the market is drawing the conclusion that higher sales at First Solar will be good for both, potentially leading to a profit later this year.

But let’s look closer at what First Solar had to say. Of the $3.8 billion-$4.0 billion in sales, $3.6 billion is expected to be in the systems business, a business Yingli, LDK, Trina, and most other Chinese manufacturers have little exposure to, especially outside of China. I don’t think we can draw the conclusion that a good year for First Solar will lead to a good quarter for Chinese solar because they have different businesses.

The real good news for First Solar
If you’re a First Solar investor then the improved guidance is good, but there’s even bigger news on the technology front. The company announced that it’s buying TetraSun, a PV start-up which has developed a cell architecture that can generate efficiencies exceeding 21% without the added cost that normally comes with high-efficiency modules. This is a direct shot at Chinese module makers like Yingli, LDK, and Trina Solar who have been able to take share because of low cost structures.  

What these companies don’t do well is research new technologies to increase efficiency. That usually falls on equipment makers like GT Advanced Technologies , who provide the equipment to make solar cells. But First Solar will now be boosting its efficiency capabilities, but SunPower is already well ahead with 21.5% efficient modules.

First Solar plans to launch this technology in the second half of 2014 and I’m sure we’ll hear more details about it when first-quarter earnings are released.

First Solar changes the game
It appears that First Solar will stick with the low-cost CdTe panels, which also got an efficiency boost today, in the utility-scale business, and use TetraSun to get into commercial and residential solar. First Solar has very little exposure to these two growing markets, which has investors concerned about reliance on giant utility-scale projects.

This is a huge catalyst for First Solar that could drive …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

LDK Sells Rest of New Shares at Discount

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By Eric Volkman, The Motley Fool

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LDK Solar has sold the second block of a recent two-part share issue. As with the first tranche, the buyer is financial concern Fulai Investments. The purchase price of the 12 million shares was $15.36 million, or $1.28 per share. This represents a nearly 30% discount to what Fulai paid for the first tranche of 5 million shares.

This past January, the two companies agreed that LDK would sell a total of 17 million new shares, or approximately 12% of the company.

Following the fresh purchase, Fulai now has the right to designate two non-executive directors to the solar company’s board.

The China-based solar-panel maker said it will use the proceeds of the issue for “general corporate purposes.” It did not elaborate.

The article LDK Sells Rest of New Shares at Discount originally appeared on Fool.com.

Fool contributor Eric Volkman and The Motley Fool have no position in LDK Solar. Try any of our Foolish newsletter services free for 30 days. We Fools don’t all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Business, Finance, Occupation & Industry

Consolidation in Chinese Solar Is Here

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By Travis Hoium, The Motley Fool

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A Chinese solar company has defaulted on loans and has been brought into bankruptcy by Chinese banks. Many investors never thought this would happen. The free flow of money from state-run banks to the solar industry has been going on for years and a bailout from either a Chinese bank or a local government was always thought to be just days away.  

There was no such luck for Suntech Power , who held the title of largest solar module manufacturer for two years. The company defaulted on U.S. convertible notes on Friday, which triggered a default on Chinese debt and the end was near.

The last day of Suntech as we know it
We know that Suntech had over $2.2 billion in debt, most of it with Chinese banks who have long been forgiving of troubles in solar. So, when the company defaulted on U.S. debt and still refused to pay investors, the thought was that U.S. investors would force the company into involuntary bankruptcy. In fact, eight Chinese banks filed a petition for insolvency with the Chinese court.  

This may seem like a small detail of Suntech’s bankruptcy but it’s very important to other companies in the industry. The central Chinese government has said it won’t bail out solar firms because consolidation and bankruptcies will be good for the industry. In December, the State Council said it would even ban local governments from propping up failing companies, as LDK Solar’s local government did last year.

Until today, those words seemed hollow to companies and many industry observers. But the central government, local governments, and state-run banks didn’t interfere with the bankruptcy of Suntech. In fact, the banks were the ones that caused it.

Where Suntech goes from here is currently unknown. The local Wuxi government now has seats on the board and it’s likely the government will bail out local manufacturing, which accounts for about three-quarters of the company’s manufacturing. Other assets may be sold to pay off other debts. We’ll know more about Suntech’s and the banks’ plans in the next few days.

What this means for Chinese solar
Yingli Green Energy and LDK Solar should be watching the Suntech saga closely because with $2 billion and $3.3 billion of net debt, respectively, they could be heading for a similar fate. Neither company has the ability to pay back loans and if Suntech can go down so will they.

The balance sheet problems are bad, but there are also strategic implications. As the cost of solar panels has fallen, the less tangible qualities have become more important. Quality, service, warranty, etc. are now considered by installers just as much as cost. If these companies are effectively insolvent why would I trust a warranty? Why would I choose Yingli over a manufacturer with less debt that may be there to service my products in five years? LDK is a supplier to solar manufacturers and …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Market Close: Big Winners &amp; Losers for March 18, 2013 (CHRY, ATOS, NYMX, PRWT, ULTR, AMBO, EFUT, CNET, PTX, LDK)

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By 24/7 Wall St.

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Here are today’s five biggest gaining stocks at closing:

Chyron Corp. (NASDAQ: CHYR) is up 25.7% at $1.32.

Atossa Genetics Inc. (NASDAQ: ATOS) is up 23.2% at $9.12.

Nymox Pharmaceutical Corp. (NASDAQ: NYMX) is up 21.7% at $5.66.

Premier West Bancorp (NASDAQ: PRWT) is up 21.6% at $1.97.

Ultrapetrol (Bahamas) Ltd. (NASDAQ: ULTR) is up 20.8% at $2.32.

And here are today’s five biggest losing stocks at closing:

Ambow Education Holding Ltd. (NYSE: AMBO) is down 16.8% at $1.29.

eFuture Information Technology (NASDAQ: EFUT) is down 16.5% at $2.94.

ChinaNet Online Holdings Inc. (NASDAQ: CNET) is down 14.7% at $0.87.

Pernix Therapeutics Holdings Inc. (NASDAQ: PTX) is down 11.7% at $5.51.

LDK Solar Co. Inc. (NYSE: LDK) is down 10.6% at $1.27.

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AMBO, ATOS, CHRY, CNET, EFUT, LDK, NYMX, PRWT, PTX, ULTR

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Only One of These Stocks Won't Be a Winner

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By Rich Duprey, The Motley Fool

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Ten days and counting. The Dow Jones Industrial Average added to its string of consecutive days moving higher, notching another 83-point gain to close above 14,500 for the first time ever. Jobless claims came in lower than anticipated yesterday and a bunch more economic data is due out today so we could see the index extend its winning streak to yet another day.

These three stocks had nothing to celebrate, however. But don’t go running over the cliff with them like a bunch of lemmings just yet — this could just be a temporary situation. Let’s first see whether they had good reason to fall as panic-fueled routs can sometimes lead to excellent buying opportunities.

Company

% Change

VirnetX

(27.8%)

LDK Solar

(10.1%)

Navidea Biopharmaceuticals

(7.9%)

That’s nuts
Proving it doesn’t matter if you win the battle only to lose the war, VirnetX announced its patents were validated by a jury, but it nevertheless lost its patent infringement case against Cisco because the jury says it didn’t violate them.

VirnetX claims to essentially owns the rights to the entire family of 4G and LTE security standards and has enjoyed a string of victories over industry behemoths such as Microsoft and Apple, the latter of which got socked with a $368 million penalty because its FaceTime software violated VirnetX’s patents. Those are the same ones that Cisco was accused of infringing upon.

But this time the jury ruled that, although VirnetX’s patents are valid over the prior art claims Cisco advanced, the network equipment maker’s routers that run virtual private networks didn’t violate them. Seems a bit of a head scratcher in reasoning, but VirnetX says it’s still going to assert its patents and license the technology and, besides, the Apple decision remains unaffected.

While disappointing certainly, the market‘s reaction seems a bit overblown. After a string of wins, one loss should hardly cause the elimination of more than a quarter of VirnetX’s market cap.

Lights out
With Suntech Power teetering on the brink of bankruptcy because the Chinese government won’t bail it out, the prospects for other solar shops surviving are diminishing as well. LDK Solar suffered a loss on the market yesterday second only to Suntech’s because it could soon be in the same financial crisis as its peer.

Suntech is expected to be pushed into default today over missed bond payments and LDK could face a similar situation next year. The Chinese government has suggested consolidation is needed in the industry and its decision to let Suntech go under rather than throw good money after bad is the first tangible evidence that it was serious.

But other solar shops might face more dire circumstances sooner than LDK, as the Fool’s Travis Hoium points out JA Solar has bonds due in May and Trina Solar follows in July. Not every solar company is on the brink of folding financially, of course, …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

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

Business, Finance, Occupation & Industry

Here's Why You Shouldn't Abandon This Solar Equipment Stock… Yet

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By Steve Symington, The Motley Fool

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No matter how the bulls try to spin it, GT Advanced Technologies‘ fourth-quarter and full-year 2012 earnings were ugly, plain and simple.

The numbers
For the quarter, revenue fell 33% from the year-ago period to $102.3 million, helping GTAT achieve an eye-popping net loss of $159.4 million.

Of course, it’s important to note those scary numbers incorporate nearly $162 million in one-time charges, including a nearly $72 million “write down of inventory and related charges” due to prevailing poor photovoltaic (PV) market conditions, $57 million “related to the impairment of goodwill related to the PV business,” and a $2.5 million hit from “certain sapphire materials assets acquired with the acquisition of the business which are now obsolete.” Ouch!

If we put these big charges aside, however, GTAT actually managed a slightly more respectable adjusted net loss of just $18.1 million. Interestingly enough, the folks at GTAT weren’t surprised in the least, with CEO Tom Gutierrez asserting:

Our Q4 results came in largely as expected as we continue to face challenging conditions in the solar and LED markets. We have taken steps to resize the business and manage our balance sheet and believe 2013 will be a year during which we continue to strengthen our foundation and further diversify the business.

As fellow fool Travis Hoium pointed out last week, while solar specialists including LDK Solar , Trina Solar , and Yingli Green Energy have historically been some of GTAT’s largest solar equipment buyers in the past, few are currently in the financial position to make additional investments in the company’s latest HiCz technology. Indeed, as the solar industry has continued to crumble over the last two years, shares of LDK, Trina, and Yingli have fallen 78%, 77%, and 87%, respectively.

What’s more, even GTAT’s customers who do have cash to purchase new equipment have been kept on the sidelines as the result of unresolved international trade tensions in the solar sector. Even still, Guiterrez also mentioned during the conference call he sees evidence that their “largest customers’ access to government and commercial capital is likely to improve over the next several quarters.” Considering HiCz will help the likes of LDK, Trina, and Yingli even further decrease the cost and increase overall efficiency of solar cells going forward, its a safe bet GTAT remains nicely positioned to profit when market conditions finally improve.

For now, however, with the current oversupply helping to extend the deterioration of GTAT’s core business, its shares currently trade hands more than 80% below the all-time high mark set less than two years ago. It’s reassuring, then, that the folks at GTAT have no delusions that market conditions will improve in the near future. As a result, the company plans to delay any significant expenditures related to market introduction of their HiCz product until 2014, at which time they believe market demand will finally drive adoption.

The potential
For its part, GTAT still isn’t content to rest on its …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

3 Stocks Near 52-Week Lows Worth Buying

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By Sean Williams, The Motley Fool

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Just as we examine companies each week that may be rising past their fair value, we can also find companies potentially trading at bargain prices. While many investors would rather have nothing to do with companies tipping the scales at 52-week lows, I think it makes a lot of sense to determine whether the market has overreacted to the downside, just as we often do when the market reacts to the upside.

Here’s a look at three fallen angels trading near their 52-week lows that could be worth buying.

The sun may shine once again
There’s little doubt that the solar sector has been filled with a myriad of ups and downs over the previous couple of years. Many domestic names have rallied dramatically off their lows as the prospect of President Obama‘s energy independence initiatives have boosted project demand; and others like GT Advanced Technologies , which provides equipment to solar companies in the manufacture of solar wafers, have done nothing but head lower.

At the heart of GTAT‘s problems, as Foolish solar expert Travis Hoium pointed out on Friday, is the simple fact that there’s still too much supply out there. Specifically, Chinese producers like LDK Solar purchased equipment hand over fist years ago when it appeared as if solar demand would be insatiable, and government subsidies endless. Unfortunately, costs for Chinese manufacturers like LDK have been rising, demand has dropped, and plenty of capacity sits idle, meaning even if business does tick higher, equipment orders from China may be minimal. LDK, for instance, boasts a ridiculous $3 billion in net debt. 

The good news here is that, over the long run, supply is going to normalize, and solar companies with little capital will bow out and create opportunities for U.S. domestic solar production. GTAT still boasts $121.1 million in net cash and management expressed confidence that the second half of the year would see a rebound in its core business. Even if GTAT hits the low end of its projected 2013 guidance, it’s only valued at 11 times this year’s earnings, or,  stripping out its cash value, just 6.5 times this year’s earnings.

Put some green in your portfolio
Many of you are quite familiar with my distrust of “green” energy companies, but for one day, at least, I’m putting aside my differences and welcoming Ameresco into the mix. Ameresco provides energy infrastructure improvements, solutions, and consulting to the energy industry, as well as enterprises and the government.

As you might imagine, in very similar fashion to the discussion regarding GTAT, a lull in solar demand has put a lid on Ameresco’s near-term profitability. However, other factors, including the negative effects of Superstorm Sandy and the delay of its fourth-quarter earnings report in order to examine how to quantify one of its hedges (the press release actually gave me a headache), have contributed to pressuring Ameresco’s share price.  

Still, President Obama‘s tax credits …read more
Source: FULL ARTICLE at DailyFinance

Science & Technology

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

Science & Technology

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