I have been in this stock since 2007. I have patience. They need to sell product outside of China to get out of China Monetary Controls. Then they need to aggressively buy back stock. Tangible Book Value is about 2.70 a share
Have you read the book Broken Markets? Do you enter / trade a fair amount of stock? I have experienced predatory trading algos while trying to get TPI orders executed. Anytime you see trades in fractions of a penny, thats institutional algos manipulating the stock price.
MidAmerican Energy Holdings Co., the power unit of Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), agreed to buy wind turbines valued at more than $1 billion from Siemens AG (SIE) for five projects in Iowa, in the supplier’s biggest order to date for land-based wind equipment.
Siemens will provide 448 of its 2.3-megawatt turbines with total capacity of almost 1,050 megawatts, enough to power about 320,000 households, Munich-based Siemens said today in a statement.
MidAmerican is expanding in wind as costs fall. Turbine prices have declined about 19 percent from the first half of 2008, according to data compiled by Bloomberg, making wind power more competitive with energy produced from fossil fuels.
Wind turbines typically cost about $1 million for each megawatt of capacity, making the deal worth more than $1 billion, Markus Tacke, chief executive officer of Siemens Energy’s wind power division, said without providing an exact price.
The order will be “a significant chunk of our overall business,” Tacke said.
“The U.S. is leading the way toward grid parity,” Tacke said, the point when the price for power from renewable sources becomes competitive with conventional sources of energy such as natural gas and coal. “The industry needs volume and these large orders help drive down the costs of wind power.”
Power from coal costs about $78.30 a megawatt-hour, compared with $82.61 for onshore wind farms, according to data compiled by Bloomberg.