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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

In this post we will take a look at the future capital needs and funding requirements of four Chinese polysilicon-based PV Manufacturers.

Briefly, our conclusion, based on current low cash levels, high outstanding short-term debt as a percentage of total capital, and future capital needs, in the form of outstanding purchase obligations listed in recent 20-F filings, is that nearly all of the companies mentioned here will have a significant weakening of balance sheets in the near term, as short-term debt levels soar to support growing operating cash losses and purchase obligations. The prosp

In this era where the masses only look at what Briefing.com tells <!---->them and/or never actually open up an earnings report to look inside but only react to the "headline" number, Trina Solar (TSL) is giving back Thursday's gains on what I consider to be a stellar report. The stock is back down to the $46 level, so I'll be adding to my position when the market opens as I consider this a gift based on what I saw. I'll explain the reality behind the numbers below.

As anyone in the market for more than a few months knows, earnings are all about "expectations" - Trina Solarreported $0.51 EPS

In early February 2008, I wrote this article giving my thoughts on 11 solar stocks. As you will recall, the stock market was hurting in January, and so were the solar stocks. In that article, I opined that the high-PE stocks in the group - First Solar (FSLR), SunPower (SPWR), and Suntech (STP) - were overpriced, while two were underpriced and screaming “BUY ME.” I further opined that if the market is truly rational, the investment returns on the low-priced stocks would exceed the returns from the high-PE stocks.

In that first article, I submitted a table I had put together, which cal

Cowen is out positive on Trina Solar (NYSE:TSL) this morning, raising their Street high 2008 estimates to to reflect the new GCL supply deal, which boosts secured silicon to 95% of targeted production. We believe Street consensus is too low on operating margin, and too high on interest expense (poly plant interest should be capitalized). Silicon coverage for 2009 also looks good, with perhaps 15% still to come from new sources.

Raising 2008E E/ADS To $4.05 Vs. Prior $3.64, Street $2.90. They raised revenue to $750MM (vs. prior $710MM, St. $709MM), based on shipments of 195MW (in

Trina Solar Announces Third Quarter 2007 Results

Changzhou, China – November 21, 2007 – Trina Solar Limited (NYSE: TSL) (“Trina Solar”, “we”, or the “Company”), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced its financial results for the third quarter of 2007.

Third Quarter 2007 Highlights