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Renewable Energy Stocks Sector Close-Up on Solar Stocks for May 2008 - J.Peter Lynch Reports, “Solar Stocks have Surprised the Street and Beaten Estimates, Some by a Wide Margin”
Renewable Energy Stocks Sector Close-Up on Solar Stocks for May 2008

 

NewswireToday - /newswire/ - Point Roberts, WA, United States, 2008/05/14 - J.Peter Lynch Reports, “Solar Stocks have Surprised the Street and Beaten Estimates, Some by a Wide Margin”.

   
 
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RenewableEnergyStocks.com, a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on recent developments and trends in the solar industry and related solar stocks. Insight and commentary features: Canadian Solar Inc., Clear Skies Solar, Inc. (OTCBB: CSKH), XsunX Inc. (OTCBB: XSNX), J.Peter Lynch and Dr. Robert Wilder, CEO and Founder of The Wilderhill Clean Energy Index.

Solar Stocks Sector Close-Up: *As of May 13, 2008

Canadian Solar Inc. was up $6.68 (19.59%) on reported preliminary unaudited US GAAP financial information for the first quarter ended March 31, 2008. Net revenues for the quarter were $171.2 million (including $2.2 million of silicon material sales), compared to net revenues of $17.5 million for the first quarter of 2007 (including $2.8 million of silicon materials sales) and $127.5 million for the fourth quarter of 2007 (including $2.4 million of silicon materials sales). Net income for the quarter was $19.0 million, or $0.61 per diluted share, compared to a net loss of $3.9 million, or $0.14 per diluted share, for the first quarter of 2007 and net income of $5.9 million, or $0.21 per diluted share, for the fourth quarter of 2007.

In a press release issued by the company, Dr. Shawn Qu, Chairman and CEO, commented, "Our impressive performance in the first quarter was due to a result of robust market demand for our products, strong pricing, effective management of foreign exchange exposure, strong operational execution of our flexible vertical integration business model, and our balanced supply strategy, which allowed us to increase our product delivery despite a general market shortage of silicon materials.”

The Claymore/MAC Global Solar Energy ETF that tracks an index of 25 global solar companies was up $0.84 (3.16%) as of the end of trading.

Dr. Robert Wilder, CEO and Founder of the Wilderhill Clean Energy Index noted, “A couple of fairly different, conflicting factors are impacting solar power right now: in Europe the ongoing demand from Germany plus more recent entrants like Spain are helping push sales globally. On the other hand looking at the domestic picture, a key Federal tax credit for wind and solar that probably should have been passed in the U.S. some months ago has continued to be held up. Here the Bush Administration has opposed allowing the subsidies now given to oil, to instead be switched to renewables. So companies exporting solar panels from low-cost regions like China, to high demand Europe are faring rather well. By contrast the U.S., which once was the global leader in solar power continues to face headwinds with our domestic manufacturers finding better growth in technological innovation areas like thin films. There is some hope however that more favorable State policies, such as in California will begin to be embraced next year in a faster-evolving Federal solar policy at the national level.“

The Wilderhill Clean Energy Index was up $5.08 (2.30%) at the close May 13, 2008

Tom Djokovich, CEO, of California based XsunX, Inc. (OTCBB: XSNX) reports , “This year we began executing plans developed last year, to build a thin film amorphous solar module manufacturing facility. Recently we secured a 90,000 sq. ft. facility in Portland OR, to house our first 25MW with over $1 million of nearly new manufacturing support infrastructure in place, and we’re working to finalizing several important material supply contracts. While we’ve been working to get our commercial production ready for first quarter 2009 it appears that the industry has begun to take notice of the superior solar absorbing qualities of amorphous silicon. Several other companies have begun announcing their move towards amorphous and I believe that this lends credibility to the path we have taken.”

CEO Ezra Green, provides insight from his solar company with, “At Clear Skies Solar (OTCBB:CSKH) we're seeing an increase in inquiries and business not only from large US Corporations who are looking for ways to minimize utility expenses, but also from countries such as Spain and Greece and developing countries like India seeking viable energy solutions. We are even being approached by commercial farmers trying to reduce their carbon footprints. In addition, with our own internal research and development department, we're also able to keep ahead of the curve in providing innovative technologies for solar energy users. Clear Skies Solar's XTRAX®, which delivers reliable autonomous data readings for solar energy systems around the United States, is just one example of the innovative new products we are bringing to market.”

Clear Skies Solar (OTCBB: CSKH) closed up 14.81 % at market close.

According to solar expert J.Peter Lynch, “Solar Stocks have again surprised the street and beaten estimates, some by a wide margin. I do expect that the industry will see some margin pressures in 2009, but for now solar stocks have regained momentum and are for the most part technically strong.”

“As you can see from the table below. Most of the stocks are above their short- term technical support (50 -day moving average) as well as, their longer-term technical support (200 -day moving average). Momentum is strong and they appear to be coming back from their recent correction.”

For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.

Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTC BB: CSKH) through its wholly owned subsidiary provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. More info can be found on the Investorideas.com Company Showcase, or the company website.

Featured Showcase Solar Company: XsunX Inc. (OTCBB: XSNX) is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. More info can be found on the Investorideas.com Company Showcase, or the company website.

Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our websites.
Disclosure: XsunX and Clear Skies Holdings compensate the website $5000 per month.

Source: Investorideas.com, RenewableEnergyStocks.com, XsunX, Clear Skies Solar

 
 
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Renewable Energy Stocks Sector Close-Up on Solar Stocks for May 2008

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