8.77 0.00 (0.00%)
After hours: 4:07PM EST
|Bid||8.75 x 28000|
|Ask||8.83 x 4000|
|Day's Range||8.69 - 8.97|
|52 Week Range||5.06 - 16.04|
|Beta (5Y Monthly)||2.19|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 10, 2020 - Feb 16, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.56|
ReneSola (SOL) agrees to sell a portfolio of 25 Hungary-based small-scale solar plants with a combined capacity of 15 megawatt (MW) to Obton.
The solar energy industry has been growing rapidly even as fossil fuels remain the dominant form of energy. Companies considered to be solar-focused come from multiple sectors, including utilities, industrial, and energy and include popular stocks such as First Solar, Inc.
SunPower Corporation (NASDAQ: SPWR), today announced that Joanne Solomon has been named Chief Financial Officer (CFO) of Maxeon Solar Technologies (Maxeon Solar), the planned spin-off from SunPower. A seasoned executive with more than 30 years of experience, Solomon will join the company on Jan. 6, 2020 and in her role, she'll lead Maxeon Solar's global finance, planning, accounting and information technology organizations. She will work closely with SunPower CFO Manavendra Sial throughout the transition to Maxeon Solar splitting off. SunPower announced in November plans to separate into two companies that will be complementary, strategically-aligned and focused on distinct offerings.
SunPower Corp. (NASDAQ:SPWR) announced that it received pv magazine's 2019 Sustainability Award, recognizing outstanding sustainability leadership in the solar industry. The award merits were judged by an independent panel of experts.
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter. One of these stocks was SunPower Corporation (NASDAQ:SPWR). SunPower Corporation (NASDAQ:SPWR) investors should be aware […]
TOTAL (TOT) is set to further expand footprint in the United States. It has decided to develop and invest in two offshore projects in the Gulf of Mexico.
JinkoSolar (JKS) incorporates the Tiling Ribbon technology into its new Tiger module to eliminate the inter-cell gap and further increase efficiency.
[Editor's note: "3 Solar Stocks to Buy for a New Day in Solar Energy" was previously published in October 2019. It has since been updated to include the most relevant information available.]Solar stocks have really taken it on the chin this year, but the huge declines are totally unjustified, creating a great buying opportunity for longer-term investors. As I've noted in the past, I'm convinced that JinkoSolar (NYSE:JKS), SunPower (NASDAQ:SPWR) and Daqo New Energy (NYSE:DQ) are great solar stocks to buy.And the recovery could be underway, JKS stock has added 7% YTD, SPWR stock has added 42% and DQ stock has added a whopping 60% after a dismal 2018.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe catalyst for the retreat of solar stocks appears to have been a decision by the Federal Energy Regulatory Commission to eliminate "a requirement for utilities to offer long-term fixed prices for qualifying facilities." More specifically, many investors may have sold solar stocks due to dramatic language used by Democratic FERC Commissioner Richard Glick, who claimed the FERC's decision could pose a major threat to the proliferation of renewable energy in the U.S.But I'll give those who have been completely avoiding the news for the last year a tip. The U.S. is going to have a very consequential presidential election in just over a year. Appointed officials are very political, and Glick was trying to dramatize the ramifications of the vote for partisan purposes. * 7 Strong Buy Stocks That Are Bargains Right Now Much more trustworthy are the assessments of apolitical Greentech and Colin Smith, the senior solar analyst at Wood Mackenzie Power & Renewables. Greentech said that the vote would have a "muted impact" on U.S. solar. Smith maintained that the decision would affect less than 5% of solar projects under development today. That news appears to have taken hold.Other much more powerful catalysts will ultimately have a bigger impact on solar stocks. Among these are the increased price competitiveness of solar energy in China and solar energy mandates in the U.S. Below I'll explore how JKS, DQ and SPWR will be positively impacted by these trends. JinkoSolar (JKS)Source: Shutterstock Researchers from the KTH Royal Institute of Technology, Malardalen University and Tsinghua University determined that, in all major Chinese cities, solar energy can be produced more cheaply than electricity from the grid. The research was originally reported in the journal Nature Energy.Meanwhile, the China Electric Power Planning and Engineering Institute has estimated that Chinese electricity demand would surge nearly 6% this year. Higher demand, combined with lower prices, is usually a winning formula for companies.Moreover, JinkoSolar's margins are likely higher in its home market because of lower shipping costs and the absence of any tariffs. Consequently, the coming expansion of solar energy in China should have a tremendously positive impact on Jinko's bottom line. * 7 Top Stocks to Buy for 2020 Also interesting is that, as of the end of the second quarter, the holders of JKS stock include some of the biggest names on Wall Street. The list includes names like Bank of America (NYSE:BAC), Citigroup (NYSE:C), Morgan Stanley (NYSE:MS) and UBS (NYSE:UBS). Those big boys are usually not all wrong about a stock. SunPower (SPWR)Source: IgorGolovniov / Shutterstock.com SunPower stock should benefit from four strong trends that are boosting solar energy in the U.S. SPWR will be boosted by the increasing cost-competitiveness of solar energy. But within America, SunPower is also getting huge lifts from state renewable energy mandates and from the increased use of solar energy by companies.Many states have passed laws requiring their utilities to obtain a specific percentage of their electricity from renewable energy. Of course, since solar is a leading renewable energy source, these mandates will cause demand for solar power to surge tremendously. And because SPWR is exempt from America's solar tariffs, it should benefit.For example, California is requiring its utilities to obtain 44% of their electricity from renewable sources by 2024. Plus, the state will require all new homes to be equipped with solar panels. SPWR's strategic partnerships with roofing companies should help it leverage this opportunity.And recently, there's been a sign that other governments controlled by Democrats could follow California's lead. Montgomery County, Maryland is poised to propose that all new homes in the county have solar panels by 2022. There are 1 million people in the county. If the trend spreads, look for SPWR stock and many other solar stocks to really take off. Daqo New Energy (DQ)Source: Shutterstock Like JKS, Daqo New Energy is likely to benefit from the relative cheapness of solar energy in China. Also based in China, DQ sells polysilicon which is used in the construction of solar modules. Among DQ's major customers are JKS and another Chinese solar powerhouse Longi Green Energy.Furthermore, as I reported last month, DQ has said that, "during the current quarter, demand for polysilicon in China will exceed supply, causing polysilicon prices to increase."As of June, many Wall Street heavyweights held meaningful amounts of DQ stock.JKS and DQ should benefit from the low price of solar power in China. SPWR stock is exploiting multiple, ongoing trends in the U.S. and all three names are very cheap. * 7 Companies Using Artificial Intelligence to Outperform the Market The market caps of JKS stock and DQ stock are both well under $1 billion, while their forward price-to-earnings ratios are a tiny 6 and 5, respectively. SPWR is more expensive, as the market cap of SPWR stock is $1.4 billion and its forward P/E ratio is 53.6. Still, its huge opportunity in the U.S. definitely makes it worth buying.As of this writing, Larry Ramer owned shares of JKS, DQ and SPWR stock. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back The post 3 Solar Stocks to Buy for a New Day in Solar Energy appeared first on InvestorPlace.
It has been a record-breaking year for the stock market, with new highs repeatedly being reached. The S&P 500 has broken its all-time-record 19 times this year, overall making 25% gains. Traditionally, or more accurately, 71% of the time, when the S&P 500 has recorded such annual gains, the rally continues the following year.According to leading investment bank Credit Suisse, next year won’t be an anomaly. The Swiss institution’s chief U.S. equity strategist Jonathan Golub says healthier revenue growth, reduced profit headwinds, and a reversal of slowing economic data are among reasons why the market could gain another 10% by the end of 2020.Not ones to argue with such experts, as Credit Suisse ranks 5th in TipRanks’ Top Performing Research Firms, we thought we’d take a look at some stocks the financial giant currently has on its radar, specifically ones with a Strong Buy consensus rating. Let’s take a look.Lyft (LYFT)First on our list is Lyft, which has been left on the curb waiting for some good news to arrive. Since going public in March, the ridesharing company has had a torrid time in the market, on a downward spiral whilst shedding over 40% of its value. But is the gloom finally about to - there’s no other way of putting this - lyft?Since the start of October it has added 11% to its share price, indicating next quarter’s report might be the first to note positive gains. The recent boost in the market can be attributed to former rival Juno, which closed shop in New York and saw its corporate clients picked up by Lyft. Credit Suisse’s Stephen Ju recently hosted an investor meeting with several leading members from the Lyft team, and he is confident the company is taking the right steps towards profitability. The 5-star analyst reiterated his Buy rating along with a price target of $96. His target implies a grand increase of 106% should the target be reached. (To watch Ju’s track record, click here)Among key takeaways for Ju were Lyft’s easing on promotional campaigns, as its marketing and promotional spend has put downward pressure on profitability, improved data on consumer behavior which will help improve the Lyft product and the onboarding of external insurance providers which should have the ability to drive contribution profit. Ju concluded, “Lyft is more focused on adding higher value users and rides. And with the recent price hikes and the ongoing reduction of contra revenue incentives, the company places greater emphasis on revenue share gain.” Sharing the positivity, with 19 Buys and 6 Holds assigned in the last three months, the Street is in the same lane as Ju, giving Lyft a Strong Buy consensus. The average price target is $68.82, implying handsome upside of 48% from its current price of $46.35. (See Lyft stock analysis on TipRanks)PTC Therapeutics (PTCT)PTC Therapeutics develops orally administered drugs for what are known as orphan diseases – disorders so rare that their lack of a market makes it hard to receive funding for the purpose of developing treatments.The company has several approved medicines worldwide and several more in the pipeline. Currently the spotlight is on its Risdiplam drug, in advanced development for the treatment of spinal muscular atrophy (SMA).The company recently reported positive SUNFISH (type 2/3 SMA) Part 2 Ph3 results for the drug which left management extremely pleased with the outcome. The SUNFISH trial is a two-part study evaluating Risdiplam in people with Type 2 and 3 SMA between 2 and 25 years of age. The data is set to be presented in February at the SMA conference in France.Credit Suisse’s Martin Auster recently met with PTCT management, and the analyst came away impressed, noting, “We are incrementally more confident that PTCT is well positioned over the next year with multiple catalysts on the horizon, most importantly announcement of Risdiplam NDA submission Q4 2019,” further adding, “We see Risdiplam being standard of care for older type 2/3 SMA patients, with the opportunity to achieve ~$3b in global sales (PTC is eligible for tiered high single digit to low double digit royalties.”Auster’s confidence in PTC has caused him to increase his price target to $58, implying an ample 36% increase from the biotech’s current price. (To watch’s Auster’s track record, click here)The analyst’s bullishness gets the backing of his colleagues, as the rising biotech currently has a Strong Buy rating from the Street. The 5 "buys" and 1 "hold" ratings provide an average price target of $59.50, implying upside of 39% from its current price of $42.71. (See PTCT stock analysis on TipRanks)SunPower (SPWR)Possibly named following a very short brainstorming session, SunPower is an energy company which designs and manufactures solar panels.At least that was simple. Things have recently gotten a little more complicated, after the company spun off part of its business to create a new company called, Maxeon Solar. The new company will manufacture solar cells overseas, while SunPower will cater to the residential and commercial solar markets in the US. Apart from hoping the move will provide a boost to SunPower shares, Chief Executive Officer Thomas Werner said, “This transaction will also simplify both organizational structures, lowering costs, while improving efficiency and creating (two) more nimble companies.”SunPower’s stock has had quite a ride this year, increasing by 200% before crashing back down whilst shedding 50% of its value. Credit Suisse’s Michael Weinstein thinks the pullback could be the right time for investors to hop onboard. The analyst said, “We reiterate our Outperform rating given continued focus on US distributed generation (DG) business, company shores up much awaited manufacturing partner (TZS’ $298m investment and capacity expansion plan), addresses overhangs (legacy liabilities and convertible debt refinance), and unlocks sum of parts (Maxeon Solar to be listed by 2Q20).” Weinstein’s price target is $14.50, indicating substantial gains of 102%. (To watch’s Weinstein’s track record, click here)The analyst is in good company, as the rest of the Street currently rates SPWR a Strong Buy. Over the last 3 months, 3 analysts have recommended a Buy on SPWR and 1 suggests a Hold. With an average stock-price forecast of $13.88, resulting in gains of 95%. (See SunPower stock analysis on TipRanks)
SAN JOSE, Calif., Nov. 20, 2019 /PRNewswire/ -- SunPower Corporation (SPWR) today announced the pricing of an underwritten public offering of 22 million shares of its common stock at a price of $7.00 per share. SunPower also granted the underwriters a 30-day option to purchase up to an additional 3.3 million shares of its common stock in the public offering on the same terms and conditions. SunPower expects to receive net proceeds from the offering of approximately $147.2 million after underwriting discounts and commissions and estimated offering expenses (or approximately $169.6 million if the underwriters exercise their option to purchase additional shares).
Enphase Energy (ENPH) signs a strategic supply deal with Sunrun for supplying its IQ7 microinverters to the later. The microinverters will get installed in Sunrun's residential solar projects.
Shares of SunPower Corp. sank 5.1% in premarket trading Monday, after the solar power company said it plans to sell 22 million shares of common stock to the public. The company plans to use the proceeds from the offering for general corporate purposes, which could include paying down its 0.875% convertible debt due in 2021. The offering would increase the shares outstanding by about 15%. SunPower is also offering underwriters of the offering, which are led by Goldman Sachs and BofA Securities, option to buy an additional 3.3 million shares to cover over-allotments. The stock has tumbled 35.6% over the past three months through Friday, while the S&P 500 has gained 8.0%.
SAN JOSE, Calif., Nov. 18, 2019 /PRNewswire/ -- SunPower Corporation (SPWR) today announced that it is offering to sell, subject to market and other conditions, 22 million shares of its common stock through an underwritten public offering. SunPower also intends to grant the underwriters an option, exercisable for 30 days after the date of the final prospectus supplement, to purchase up to an additional 3.3 million shares of its common stock on the same terms and conditions. SunPower intends to use the net proceeds from the offering for general corporate purposes, which may include partially funding the repayment of its 0.875% senior convertible debentures due 2021.