76.99 +0.02 (0.03%)
Pre-Market: 7:57AM EDT
|Bid||70.02 x 1100|
|Ask||77.00 x 800|
|Day's Range||73.63 - 79.25|
|52 Week Range||40.08 - 143.73|
|Beta (5Y Monthly)||-0.24|
|PE Ratio (TTM)||26.52|
|Earnings Date||May 03, 2020 - May 07, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||119.77|
It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
In the latest trading session, SolarEdge Technologies (SEDG) closed at $90.45, marking a +0.61% move from the previous day.
The solar energy industry has been growing rapidly even as fossil fuels remain the dominant form of energy. Solar industry companies come from multiple sectors, including utilities, industrial, and energy, and include popular stocks such as First Solar, Inc. (FSLR) and SunPower Corp. (SPWR). While some large utilities and energy companies have solar and renewable energy divisions, they typically are not included in the industry's listings because their primary focus is not solar.
The decline in oil prices has dragged down alternative energy investments in the short term. But the “long-term story” is still attractive, investors say.
JinkoSolar's (JKS) total revenues for the fourth quarter are expected in the $1.35-$1.38 billion range, exceeding the previous guidance of $1.17-$1.23 billion.
Etsy, Tesla and SolarEdge staked out early leads Tuesday, while Exxon led the Dow Jones, as stocks sought a dose of redemption.
Shares of solar power companies tumbled in premarket trade Monday, as crude prices fell more than 22% amid a price war between Saudi Arabia and Russia. Solar stocks typically fall with crude price declines, as cheap oil makes the technology look less appealing. Electric car maker Tesla Inc. shares were also lower, down 14% at last check, while its Chinese rival Nio Inc. was down 16%. Among solar stocks, Enphase Energy Inc. was down 14%, Vivint Solar was down 12%, Canadian Solar Inc. was down 11% and JinkoSolar Holding Co. Ltd. was down 10%. First Solar Inc. and SolarEdge Technologies Inc. were down 10%, Sunrun Inc. was down 9.6%.
In volatile and dizzying up/down price action this week, many companies' shares have been bloodied. But now and during a potentially bullish window for the broader averages, it's important to look for technical strength removed from headlines of tech wrecks and potential new market leaders for tomorrow. The following three tech stocks are positioning themselves for that kind of success off and on the price chart.Just when it appeared Wall Street was recovering from yet another doozy of a sell-off following Wednesday's strong rally, along comes Thursday's countering, coronavirus-driven blow to would-be bargain hunters. And if Friday is any indication, conditions for investors are only going to get worse before they get better. Or are they?As the coronavirus unceremoniously celebrates 100,000 confirmed cases globally, fear and panic selling have clearly trumped anything resembling good news to close out the week. Friday's strong monthly jobs report and word the Fed is on the cusp of another rate cut this month, are two market supports seemingly swept under the carpet. But there are still reasons investors need to keep a clear head and remain optimistic.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's important to recognize that as much as today's market correction could turn into an uglier bear market, history also strongly urges investors to monitor the major averages for a bullish follow-through day. A follow-through day or 'FTD' typically occurs four to seven sessions after an intermediate market low is established.What's required of the follow-through day is very simple. At its core, one or more market averages need to rally by 1% or more on heavier volume during this critical window of time. And why should that matter? Well, not only is Friday day five of the FTD count, more importantly every single bull market has been preceded by this event.Another typically important part of the FTD signaling and actually turning into a meaningful intermediate bottom is technical leadership from newer companies. These are generally younger companies executing strongly off and on the price chart in today's market and potentially in position to become tomorrow's Apple (NASDAQ:AAPL) or Microsoft (NASDAQ:MSFT). * 9 Stocks to Buy If People Get Stuck at Home Given the significance of the FTD and behavior from newer select stocks on the market's future price direction, investors might smartly distance themselves from panic headlines warning of the end of days. Instead or at a minimum, it's important to make room on your trading monitor for companies like the three tech stocks below. These stocks are possibly leading the market towards a more benevolent conclusion. Zoom Technologies (ZM) Source: Charts by TradingViewZoom Communications (NASDAQ:ZM) is the first of our newer tech stocks in position to lead the market higher. The company's business-driven video conferencing platform is benefiting from the coronavirus as travel screeches to a stop and demand for remote ways to carry on are seeing a lift. But a recent solid and growth-filled earnings beat also shows Zoom had the right kind of stuff going for it before the disease plaguing today's market was even a whisper.Now and following a solid earnings reaction, shares are pulling back into a testing position of Fibonacci and cup-shaped pattern support. Investors already long this tech stock obviously want shares to rally. Still, the healthy-looking drop is one to put on the radar to buy on today's fear-induced weakness, but strong odds of new highs to come in conjunction with a market-based follow-through day. SolarEdge Technologies (SEDG) Source: Charts by TradingViewSolarEdge Technologies (NASDAQ:SEDG) is the next of newer tech stocks that's acting like a market standout off and on the price chart. Business-wise, this alternative energy upstart has been a consistent champion. It's a trend most recently reaffirmed with late February's burly profit and sales-topping earnings results. * 8 Stocks to Buy in March for a Coronavirus Rebound On the price chart SolarEdge shares are also demonstrating the right kind of stuff technically to take off and lead a FTD in the broader averages. Following a couple classic corrective base breakouts, this tech stock is now well-positioned to rally to all-time highs out of a weekly chart inside consolidation pattern three weeks in duration. Spotify Technology (SPOT) Source: Charts by TradingViewSpotify (NYSE:SPOT) is the last of our newer tech stocks in position to lead the market higher. Earnings for the world's largest streaming music platform are admittedly a bit 'spotty,' as last month's report can attest. The company is still mired in red ink and also missed Street forecasts. All the same and not unlike market leaders such as Netflix (NASDAQ:NFLX) or Amazon (NASDAQ:AMZN) as they built their brands, continued market penetration and solid sales growth are certain positives for this market disruptor.Technically, the price chart in this tech stock is also striking the right kind of chords to become a classic.Over the past several months shares have faltered on a handful of occasions as SPOT stock attempted to clear a band of key Fibonacci resistance tied to its lifetime price cycle. Still, there is one confirmed higher-low monthly candlestick in place. As well, February's second pivot low is holding strongly with March's inside price action supported by Spotify's out-the-gate low from 2018.The observation is this tech stock is demonstrating under-the-radar stealth strength worth monitoring. My guess is modest price confirmation above $151 would be enough for shares, once and for all, to break firmly above resistance into the right side of its two-year long base. And from there, Spotify could find itself trending to the 'top of the charts' in the world of investing.Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Stocks to Buy If People Get Stuck at Home * 7 Strong Value Stocks to Buy for 2020 * 5 High-Yield Dividend Stocks With Great Buyback Programs The post 3 Newer Tech Stocks Poised to Lead Markets Higher appeared first on InvestorPlace.
In the coronavirus market correction, focus on stocks holding up. Apple, Tesla, Alibaba and Nvidia are showing strength. Costco earnings beat views.
First Solar (NASDAQ:FSLR) is not a bad stock to buy, since its solar module business is growing meaningfully and its valuation is low. But with the company in a state of flux and failing to provide either great value or rapid growth, there are much better solar stocks to buy at this point. Further, FSLR stock could be meaningfully hurt both by likely reductions of U.S. tariffs on imports of solar energy products from China and scheduled cuts in the U.S. solar tax credit.Source: IgorGolovniov / Shutterstock.com In conjunction with its fourth-quarter results, the company on Feb. 20 announced that it would "review options for its U.S. project development business." Translated into normal English, that means First Solar will likely look to sell its business that develops large-scale, solar power projects in the U.S.On this issue, I agree with the sentiments expressed by two analysts. Oppenheimer analyst Colin Rusch says that he's "cautious" on First Solar stock "pending further business model clarity."InvestorPlace - Stock Market News, Stock Advice & Trading TipsIndeed, anyone investing in the shares now doesn't know whether the company will be in the business of developing large-scale solar projects six months from now. Most medium-term and long-term investors like to know a great deal about the outlook of the companies whose shares they buy. * 8 Stocks to Buy in March for a Coronavirus Rebound More importantly, dealing with this issue is likely to consume a great deal of the attention and time of the company's management for the foreseeable future. In a highly competitive market like solar, companies can easily be badly hurt if their management teams don't stay completely focused on the issues at hand.But I also agree with Cowen analyst Jeffrey Osborne who thinks that the company is right to look to sell its large-scale development business.He says that the unit "plagues (First Solar's) results, both in terms of timing of revenue as well as profitability."While I think that developing large-scale solar projects could prove to be very profitable in the longer term, such projects haven't been very lucrative for First Solar, and they've made its financial results rather unpredictable. And those difficulties won't go away anytime soon.Still, the uncertainty created by the company's announcement, along with the distractions the move will create for the company's management, makes it tough to buy the shares at this point. Decent Results and Upcoming ChallengesEven though First Solar's Q4 results didn't look great on the surface, its module business, which would be the core of the company if it sells its large-scale development business, did pretty well last year.The company shipped a record 5.4 gigawatts of modules and booked sales of 6.1 gigawatts in 2019. First Solar expects to ship 5.8 to 6.0 gigawatts of modules this year. The module business' gross margin was 40% in Q3 and 24% in Q4. Those are impressive gross margins for a solar module business.But First Solar, which gets the vast majority of its revenue in the U.S,., is facing some important headwinds in the country. Specifically, America's tariffs on imported Chinese solar modules and tax credits for solar projects are both slated to drop. First Solar's modules are exempt from the tariffs, so First Solar could easily lose share to Chinese module makers as the tariffs decline.Meanwhile, the growth of the overall U.S. solar market could slow as the tax credits drop. Although I believe that state renewable energy mandates and the growing competitiveness of solar with fossil fuels will prevent solar's growth in the U.S. from decelerating much, even a slight deceleration could materially, negatively impact First Solar's results. There Are Better Solar StocksFSLR stock is trading at 13 times analysts' average 2020 earnings per share estimate. That's cheap, but two Chinese solar stocks are much cheaper; JinkoSolar (NYSE:JKS) and Daqo New Energy(NYSE:DQ) have forward P/E ratios of just 5.3 and 7.2 respectivelyFirst Solar's top line is expected to drop 5.7% this year, while the revenue of two solar inverter makers, Enphase (NASDAQ:ENPH) and SolarEdge (NASDAQ:SEDG), is expected to jump 42% and 28%, respectively. Clearly, Enphase and SolarEdge are better choices for growth investors than First solar. The Bottom Line on First SolarFirst Solar is in a state of flux that makes its outlook difficult to determine, and its management team could be distracted by the likely sale of its large-scale-project business. Moreover, value investors and growth investors both have better choices in the solar sector than First Solar.As of this writing, Larry Ramer owned shares of JinkoSolar and Daqo New Energy. Larry Ramer has conducted research and written articles on U.S. stocks for 13 years. He has been employed by The Fly and Israel's largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Stocks to Buy in March for a Coronavirus Rebound * 5 Big Reasons Stocks Will Rebound From the Coronavirus Selloff * 4 Large-Cap Stocks Still in Trouble The post Even If Its Outlook Improves, FSLR Stock Is Not the Best Solar Name appeared first on InvestorPlace.
The Zacks Analyst Blog Highlights: Amkor Technology, SolarEdge Technologies, Ultra Clean, La-Z-Boy and SYNNEX
Zacks.com featured highlights include: SolarEdge Technologies, Mr. Cooper, Synaptics, Legg Mason and Anixter International
With Biden's win minimizing risk to markets and the domestic economy remaining in pretty good shape, stocks are collectively expected to scale north in the near term.
The Zacks Analyst Blog Highlights: La-Z-Boy, Technologies, SYNNEX, Ultra Clean and Amkor Technology