All solars are trading up in premarket on good volume. JASO actually has some volume early as well, which is very unusual for them. Yesterday in AH, there was a 184,000 block trade. What will be in store for today I wonder.
Axiom Capital upgraded JA Solar Holdings Co., Ltd. (NASDAQ: JASO) from Sell to Hold with a price target of $7.00.
Analyst Gordon Johnson commented, "With the above as a backdrop, & also considering JASO has a now ~2-year old take private offer from its CEO, looking to 2Q17, assuming: (a) shipments of 1.60GW, (b) a 15% U.S. mix at ¢45/W, (c) a 10% China Golden Sun mix (i.e., mono c-Si modules) at ¢44/W, (d) a 75% ROW mix at ¢37/W, (e) a cost/W of ¢33.4/W, (f) OPEX at 10% of sales, (g) interest expense at $11mn, & (h) a 15% tax rate, we see EPS coming in at $0.24/shr vs. Cons $0.05/shr. Yet, looking to 3Q17, excluding the sale of any projects, assuming: (a) shipments of 1.68GW, (b) a 25% U.S. mix at ¢47/W, (b) a 10% China Golden Sun mix (i.e., mono c-Si modules) at ¢44/W, (c) a 65% ROW mix at ¢35/W, (d) a cost/W of ¢33.6/W, (e) OPEX at 10% of sales, (f) interest expense at $11mn, & (g) a 15% tax rate, we see EPS coming in at $0.21/shr vs. Cons -$0.06/shr. Stated differently, annualizing our 3Q17 EPS est. of ¢21 & applying a mid-cycle 8.6x P/E multiple, JASO’s module business would be worth $7/shr, or 13% upside from yesterday’s closing price (Ex. 3). While JASO has the lowest mix of U.S. business due to its focus on the Japanese market, we do believe the company will opportunistically attack the U.S. market as long as the U.S. bull market for solar panels is “in play”. For this reason, we move our rating to HOLD vs. SELL previously. With 0 BUYS, 2 HOLDS, & 1 SELL, we see a sentiment-induced short squeeze as possible as the U.S. bull market runs on."
If they had done nothing this would be at least eight dollars based on the action in Solar now. What a screw job on US investors.
it's nice to see it up...but look @ JKS...we are 3% while JKS is 9% up...
Here is press release of that contract in Malaysia...
In cheerier news, JA Solar revealed today that it had signed a 50 MW module supply deal in Malaysia – its first such utility-scale contract in the southeast Asian country.
The JA Solar percium mono modules are to be shipped to a PV project located in Sabah. The large-scale solar farm has garnered a lot of attention in Malaysia, and is expected to be completed by the end of 2017.
“We have invested $163 million in our Penang, Malaysia manufacturing operation to produce multi- and mono-cells with the annual capacity of 100 MW,” said JA Solar VP Cao Bo. “From the China-Malaysia standpoint, investing in manufacturing facilities and sharing our technical expertise in Malaysia, a rapidly growing market, remains our top priority.”
The developer is SPIC Energy Malaysia Sdn. Bhd, which is a subsidiary of Malaysia’s State Power Investment Corporation.
JA Solar expects minimum disruption from cell fab fire, signs 50 MW supply deal
Fire at the Chinese solar firm’s Yangzhou cell facility raged for a few hours but was contained to old production lines. Production disruption is expected to be minimal. Company also confirms 50 MW module deal in Malaysia.
JASO conservative valuation = 17.32.
They will probably IPO it on Shanghai exchange at 56. Will spike to 73 on first day.
No volume. No news. Nothing.
2 years ago, the CEO kills JASO, and with the recent lower offer, he put the final nail on the coffin.
I have contacted Bronstein, Gewirtz & Grossman, LLC which is one of the law firms involved in a stockholder class action lawsuit with Sunpower. They got back to me and are investigating JASO. They had been looking at JASO before I contacted them. My losses from JASO at $6.03 are only $12,000 because I bought a lot at low prices and one thing they need is someone with a potential $200,000 loss. If anyone fits this bill please contact them and it will make it easier for them to get a suit going. The real loss is the unrealized potential of this company.
feeling disgusted. But now just give me thos f.. 6.80$ and I'll be out. Can't wait to move over this #$%$. Never a chinese stock anymore!
Morgan Stanley and Guggenheim have been accumulating a lot recently. Could be a lot of the volume. msn has more updated listings of top holders
This CEO should be jailed!!! #$%$!!! I`m in since 2 years thinking was worth more then the Book Value of now over $20!!!! How stupid I was, really!!! Hope for a class Action later...
Posted request for info about the decision by committee on their LinkedIn page. Let's see if I get a response.
Maybe Morgan Stanley is applying pressure to the board to reject the buyout. They're up over 6% outstanding shares as of a few months ago. I hope they're still accumulating. I didn't find a 13G filing for 5% ownership.
You can go to the SEC website, and under the Education tab, there's a file complaint sub-heading. Then there's a report a problem link. Finally, there's an investor complaint form!
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Worst case is a $6.80 buyout, right? Who is selling at these levels?
Google has better charts.
JASO was at $13.14 on March 17, 2014. They were recovering.