Posts Tagged ‘solar stocks’

Akeena Solar, Inc. (WEST) – Buzz Stock of the Day

Wednesday, December 15th, 2010

The sun was shining on solar companies today, as upbeat outlooks sent shares of several solar companies soaring.

The biggest gainer of the day was Akeena Solar, Inc. (Nasdaq: WEST), which surged as much as 53 percent today after the solar products maker raised its fourth-quarter revenue growth forecast to more than 50 percent sequentially.

“We are encouraged by the pace of sales in the fourth quarter and we are confident that we will see sequential revenue growth in excess of 50 percent,” said Westinghouse Solar’s CEO, Barry Cinnamon in a statement.

Akeena, which operates under the trade name Westinghouse Solar, said the key driver behind its revised revenue growth guidance is its ability to add new dealers in California, and elsewhere in the U.S.

On September 10, 2010 Westinghouse Solar announced it would be expanding its distribution business to include sales of its Westinghouse Solar Power Systems directly to dealers in California, and exiting its solar panel installation business. The company provided guidance on October 28 that it anticipated sequential revenue growth for its distribution business of approximately 40-50 percent in the fourth quarter of 2010 as compared to the third quarter.

“We continue to add new dealers both within California and in the rest of the country, and our network of installers is now over 130 independent solar dealers extending into 34 states plus Canada,” Cinnamon said.

“So far, we are seeing positive signs that the distribution business should prove to be as scalable as we anticipated when we made the decision to exit the installation business. We are also continuing discussions with new strategic distribution partners to increase our top line sales, and supplier partners to reduce our costs. We continue to anticipate that our cash operating expenses for continuing operations will be approximately $1.5 — 1.6 million in the fourth quarter.”

Other notable solar stock gainers included First Solar, Inc. (Nasdaq: FSLR), and Trina Solar Ltd. (NYSE: TSL)

Shares of Akeena Solar, Inc. are down about 4 percent over the past three months.

DayStar Technologies, Inc. (DSTI) – Buzz Stock of the Day

Thursday, July 22nd, 2010

Shares of photovoltaic solar products products maker, DayStar Technologies, Inc. (Nasdaq: DSTI) rallied more than 75 percent from Wednesday’s closing price in morning trading on Thursday after the company announced that it is pursuing a strategy for offshore manufacturing of its CIGS thin-film deposition technology solar modules.

DayStar Technologies has “begun discussions with several potential partners,” which if consummated “could include joint ventures, licensing agreements, contract manufacturing agreements,” or even a reverse merger with or an acquisition of DayStar, according to CEO Magnus Ryde. “We are confident in our core proprietary CIGS technology and believe that completing a transaction with a strategic partner and manufacturing our CIGS modules offshore would provide the best opportunity to bring our product to market and to manufacture the product in the most cost effective manner,” said Ryde in a statement.
DayStar was notified by its landlord, BMR-Gateway Boulevard LLC that the Company’s lease for the premises located at 7333-7373 Gateway Boulevard in Newark, California has been terminated.

For the first quarter, DayStar reported a net loss of $6.1 million or $1.61 per share, compared with a net loss of $7.7 million or $2.06 per share in the first quarter of 2009. The average shares outstanding and loss per share for the quarter ended March 31, 2010 and 2009 reflect the 1-for-9 reverse stock split implemented by DayStar on May 11, 2010. DayStar’s common stock began trading on the NASDAQ Capital Market on a split adjusted basis on March 12, 2010.

Solar stocks continue to have some buzz around them with stocks like STR Holdings (Nasdaq: STRI), Solarfun (Nasdaq: SOLF), Trina Solar (NYSE: TSL), JA Solar (Nasdaq: JASO), Renesola (NYSE: SOL), and GT Solar (Nasdaq: SOLR) all showing strong relative strength to the overall market the past year. Simmons & Co analyst Burt Chao recently told Reuters that “if we haven’t passed the bottom, we’re very, very close to it.” A look at the Solar Stocks Index shows that there is certainly no shortage of domestic components. However, data from the Solar Energy Industries Association suggests that solar power accounts for less than 1% of U.S. energy usage.