Dow, NASDAQ Rise; Solar Stocks Soar


David Brands

EarthToys Renewable Energy Article
Dow, NASDAQ Rise; Solar Stocks Soar

May 26-29: Yingli, Canadian Solar and Suntech up over 30%

David Brands - Solar Advice for Free

The DJIA packed on 223 points ending at 8500.33, a 2.7% rise. NASDAQ did even better gaining 82+ to 1774.33 points, a 4.8% jump for the week. Eighteen stocks of the 20 Solar Stocks Index (20SSI) gained making the total average increase over 13%.

Week of May 26-29, 2009
Be sure to check Solar Advice for Free for weekly updates every Friday afternoon.

  Monday Open Friday Close Up/Down % Change Close 1/5/09
Dow Jones DJIA 8277.32 8500.33 +223.01 +2.694 8952.89
NASDAQ 1692.01 1774.33 +82,32 +4.865 1628.03
Akeena Solar AKNS 1.12 1.20 +.08 +7.142 2.28
Amtel Systems ASYS 4.50 4.55 +.05 +1.111 4.00
Applied Materials AMAT 10.67 11.26 +.59 +5.529 10.67
Canadian Solar CSIQ 10.01 13.23 +3.22 +32.16 7.00
ECD (UniSolar) ENER 15.06 17.21 +2.15 +14.27 29.33
Entech Solar ENSL.OB .191 .19 -.001 -.0053 .28
Evergreen Solar ESLR 1.76 1.86 +.10 +5.682 3.60
First Solar FSLR 191.72 190.29 -1.43 -.7515 157.80
GT Solar Int. SOLR 6.25 6.42 +.17 +2.720 4.00
JA Solar JASO 3.70 4.23 +.53 +14.32 5.09
Kyocera KYO 76.68 78.53 +1.85 +2.412 71.87
LDK Solar LDK 7.77 9.12 +1.35 17.37 14.84
MEMC Elect. WFR 17.06 19.29 +2.23 +13.07 15.76
Renesola SOL 3.69 4.24 +.55 +14.90 5.15
Satcon SATC 2.02 2.37 +.35 +17.33 1.60
SolarFun SOLF 6.24 7.48 +1.24 +19.87 6.12
SunPower SPWRA 26.60 29.03 +2.43 +9.135 45.13
SunTech STP 12.48 16.34 +3.86 +30.93 13.55
Trina Solar TSL 20.73 24.78 +4.05 +19.54 10.09
Yingli YGE 9.35 12.82 +3.47 +37.11 7.25
Percent change all 20 stocks this week:       +13.19%  

Yingli (YGE), Canadian Solar (CSIQ) and Suntech (STP), were the biggest gainers of the index. Strangely, First Solar, the industry's darling for awhile now was one of two losers dropping just .75%. The other was not unusual: Entech Solar dropped a tidge again but not much should be expected from a company that does not make or install anything at this time.

Yingli's smooth sailing could be attributed to its exclusive supplier agreement with AES Solar announced May 15. AES Solar of Arlington, VA develops, finances, constructs, owns and operates utility-scale PV power plants worldwide. Also, Yingli's Q1 09 gross margin was at 15.3%, up 2.1% over Q4 last year, a triumph in a very tough first quarter for the industry.

CSI is evidently gaining ground with its line of E-Modules which use "solar grade" (actually upgraded metallurgical grade or UMG) silicon which is very slightly less pure than standard grade silicon but accordingly shaves panel prices around 40 cents a DC watt. CSI is also committed to making their E-Modules 14% efficient be year's end which would nearly put them on par with average standard silicon panels.

An AP story today reported "shares of Suntech Power Holdings Co. Ltd. jumped on Friday after the company said it closed its public offering of 23 million American Depositary Shares, each representing one ordinary share of the company, and received $277 million in net proceeds." As the leading panel maker globally, the allure of Suntech stock generated $277 million in net proceeds. Suntech said the proceeds will go to working capital and general corporate purposes to include repurchases and redemptions of its existing securities.

Solar likely would do even better as potential customers--residential and commercial--want to go solar but for many banks still being stingy with credit. Energy Conversion Devices (ECD) is contracting sales agreements now for its UniSolar PV laminates for projects that may not begin for 12 to 18 months, contingent on (hopefully imminent) bank loans for several committed customers..

Be sure to check Solar Advice for Free for weekly updates every Friday afternoon.

David Brands San Diego, California
Experienced with commercial and residential photovoltaic systems in Southern California. Knowledgeable with crystalline and thin-film PV technologies with general familiarity of concentrating PV. Occasionally, other energy-saving technologies are deemed worthy of attention. Detailed, fee-based consultations are available on request. Publisher of Solar Advice for Free

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