By Harris Roen
Five solar stocks announced key updates – three show improved prospects, and two warn of danger.
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| Power REIT will acquire 100 acres of land underlying a 20 megawatt solar array to be developed. The leasee will sell electricity to Pacific Gas & Electric (PG&E) and Southern California Edison (SCE), which should then provide a steady income stream to PW shareholders. The stock price is up 11% for the year, in addition to a yield of 3.9%. | Press release |
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| AEIS issued a respectable, though mixed, earnings report. Profits were up and net income jumped considerably, but revenues dropped slightly and EPS was down 17% from the previous quarter. Q2 2013 guidance was in line with analyst estimates, which are projected to come in 18%-30% above current levels. The stock had a nice bounce on the news, and is up 34% for the year. | Reuters article |
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| A positive earnings report caused a jump in SunPower’s stock price, up 18% yesterday and 171% for the year. Revenues dropped slightly for the quarter, but were 30% higher than the same quarter one year ago. The company also announced it will supply Verizon with rooftop and ground-mounted PV systems in 6 states. | Press release |
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| GTAT stock remains battered on a poor earnings report. The stock dropped 5% in one day on large volume, and is down 43% for the year. The company announced it sill stop offering earnings guidance going forward. | SolarServer article |
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| Losses continue for STRI, with revenues 30% below the previous quarter, and 64% below the same quarter last year. Profits and net income showed improvement compared to losses of the previous quarter, but still remain negative. STRI stock is down around 90% from its highs in late 2010. | Press release |
About the author
Harris Roen is Editor of the “ROEN FINANCIAL REPORT” by Swiftwood Press LLC, 82 Church Street, Suite 303, Burlington, VT 05401. © Copyright 2010 Swiftwood Press LLC. All rights reserved; reprinting by permission only. For reprints please contact us at cservice@swiftwood.com. POSTMASTER: Send address changes to Roen Financial Report, 82 Church Street, Suite 303, Burlington, VT 05401. Application to Mail at Periodicals Postage Prices is Pending at Burlington VT and additional Mailing offices.
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