So...I wrote about a break in the correlation between oil and solar stocks the day before oil takes a major tumble that crushes solar stocks at the same time. The one-day massive move on September 2 did not re-establish a correlation, but it was jarring nonetheless. All sorts of stops and targets triggered, and I am still trying to sort out the meaning of the action and make plans for the next month or so. At times like these, I find writing to be a great organizing and clarifying tool. I will focus here on explaining my short-term positioning in various solar stocks since I did not do so t
Energy Conversion Devices: Ridiculously High Valuation
A comparison of stocks in the solar space shocked me today with some stocks trading at risky high valuations. The following ones are on the top of the list:
I am replacing some solar exposure I sold off earlier this week. I continue to find this space very undervalued but valuation has meant little in this market for a long time - so we've relied on charts. I'm also wary of the type of reversals this group is infamous for. But we have 2 industry conventions coming up, Obama, McCain, blah blah and perhaps we can get sentiment to stick. The solar story is very global and has very little to do with America thus far, but investors in solar stocks are mostly American so it's an interesting juxtaposition.
7/7 - "Cowen notes Solar stocks have been pummeled by concerns about a potential sharp drop in Spanish solar subsidies. In firm's view, a proposed 2009 cap of 300MW is unlikely to become law, as it would cause significant job losses and business closures. Unemployment and economic growth are the major issues for the Spanish government. The power sector has accumulated a large deficit, because regulated prices have not kept pace with fuel costs, underscoring the case for renewables.
They see Outperform-rated thin-film players ENER ($64) and FSLR ($253) as best-positioned, but believe Outper...
I am adding yet another name to the solar mix - Energy Conversion Devices (ENER). The stock has now dropped from $83s to $59s in 2 weeks or about 30%. I deemed it too expensive (it is still expensive but it is all relative) at that point [Jun 17: Energy Conversion Devices (ENER) Now Trades on Par with First Solar (FSLR)] so we'll start here with a beginner stake and see if we can get lower prices. If not, at least we have a toehold - this is our 5th solar name in our solar basket and enough for me in terms of "number of names". I'll simply add or subtract exposure by buying or selling ...
Energy Conversion Devices (ENER) is an interesting tale - this has been for many many years a "hope" stock i.e. more promise than execution - I remember the hoopla surrounding it at the turn of the century ... the last time people were all hyped up about alternative energies (at the time the big fuss was about new wave car batte...
Recap of CNBC's Fast Money, Tuesday June 17.
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Will Goldman Lose its Shine? Goldman Sachs (GS)
In spite of decent news from Goldman, the Dow dropped and stocks were mediocre. While the investment bank’s quarterly earnings declined 11% on slower trading, Goldman still avoided much of the credit crisis woes that have plagued other banks. However, Fox Pitt Kelton securities analyst David Trone says it will be a while before Goldman is a buy, because government regulation is looming over all the brokers; “their long term returns are going to be permanently suppressed and in my opinio
5/22 - "We remain optimistic about Energy Conversion Devices, Inc.’s (ENER) long-term potential success in the high growth alternative energy industry, given increased activity in solar power projects. The maker of thin-film flexible solar laminate products achieved profitability for the first time in the third quarter since it went public in 1969. The company is also developing and expanding its solar business while exiting other non-core businesses."
"Nevertheless, we note the stock is highly volatile, pending the sale of its Cobasys joint venture...Moreover, a history of negative profit...
Energy Conversion Devices (ENER) is an interesting
tale - this has been for many many years a "hope" stock i.e.<!----> more
promise than execution - I remember the hoopla surrounding it at the
turn of the century ... the last time people were all hyped up about
alternative energies (at the time the big fuss was about new wave car
batteries and the like).
his company has morphed over the years with aconfusing array of business lines (trying to decide what it wanted to"be"), but recently has added a newer and more-business savvy executiveteam, and while they still have a few business lines ..
ENER - a trade into earnings
- ENER looks poised for that $100 target into earnings upcoming. I still think this is a great idea for a trade into earnings based on them having actual...
ENER - a must add
- ENER - Like GDP, ENER looks like its getting that nice orderly post-Window Dressing pullback and could really take off here shortly again into earnings...
ENER - to infinity and beyond!
- ENER continues its righteous rally to infinity and beyond! It's the Bud Lightyear of solar stocks! Knock on wood, it should rally into the end of the ...
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