9.35 +0.03 (0.32%)
After hours: 7:09PM EDT
|Bid||9.32 x 1000|
|Ask||9.35 x 4000|
|Day's Range||9.14 - 10.24|
|52 Week Range||4.55 - 16.04|
|Beta (3Y Monthly)||2.21|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Solar panel maker First Solar (FSLR) plans to report its Q3 earnings on October 24. Analysts expect the company to report earnings per share of $1.19.
Solar stocks highlighted the top-rallied sectors this year. After hitting multiyear highs, many solar stocks have fallen as much as 40% since August.
Editor's note: This story was previously published in June 2019. It has since been updated and republished.Over the last month, solar stocks have really taken it on the chin. But once again, 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.In the past month, JKS stock has tumbled 18%, SPWR stock has sunk 15% and DQ stock has lost 6%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe catalyst for the retreat of solar stocks appears to be 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.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.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. Solar Stocks to Buy: 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. * 10 Hot Stocks Staging Huge Reversals 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. 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.
TOTAL (TOT) further expands operations in Brazil through a new exploration license in the C-M-541 deep offshore block, located in the pre-salt Campos Basin.
The Trump administration is eliminating an exemption that allows overseas competitors to avoid 25% tariffs on certain solar panels.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The Trump administration dealt a fresh blow to renewable energy developers on Friday by stripping away an exemption the industry was counting on to weather the president’s tariffs on imported panels.The U.S. Trade Representative said Friday it was eliminating a loophole granted about four months ago for bifacial solar panels, which generate electricity on both sides. They’ll now be subject to the duties Trump announced on imported equipment in early 2018, currently at 25%. The change takes effect Oct. 28.The exclusion had been a reprieve for the solar industry, which lost thousands of jobs and put projects on ice as a result of the tariffs. Some panel manufacturers had already begun shifting supply chains to produce more bifacial panels. Stripping the exemption represents a setback to developers building big U.S. solar projects. American panel makers First Solar Inc. and SunPower Corp. will meanwhile regain an edge on foreign competitors.“The solar tariffs are back,” Tara Narayanan, an analyst at BloombergNEF, said in an interview Friday. “U.S. solar developers cannot buy products with lower costs and higher output as they briefly thought they could.”First Solar, the largest U.S. solar panel maker, and SunPower both gained in after-markets trading late Friday.What BloombergNEF Says“The withdraw of tariff exemption for bifacial will cool down its popularity in the U.S. a little, but not stop the rise of the technology, which introduces improved economics even without tariff exemption.”-- Xiaoting Wang, solar analystDevelopers that have used bifacial panels and stand to take a hit from ending the exclusion include Renewable Energy Systems Americas Inc. and Swinerton Inc.While bifacial panels accounted for just 3% of the solar market last year, BloombergNEF had projected a swift ramp-up in production as manufacturers tried to insulate themselves from U.S. tariffs.The trade group Solar Energy Industries Association fought to preserve the exemption, saying bifacial technology held “great promise for creating jobs, right here in America.”“We’re obviously disappointed,” the group’s general counsel, John Smirnow, said Friday. “We look forward to making sure the bifacial exemption gets a fair hearing” during the solar tariff’s mid-term review process, he said. The U.S. Trade Representative said in its filing that the exclusion would’ve probably resulted in “significant increases in imports of bifacial solar panels” that would’ve rivaled domestically produced ones. SunPower, based in San Jose, California, opposed the exemption without a cap, saying that it would otherwise defeat the purpose of the tariffs. “It just means everyone is going to make a bifacial,” the company’s chief executive officer, Tom Werner, said in a Sept. 23 interview.\--With assistance from Joe Ryan and Ben Livesey.To contact the reporters on this story: Brian Eckhouse in New York at firstname.lastname@example.org;Christopher Martin in New York at email@example.com;Ari Natter in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Joe Ryan, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Solar stocks often offer big moves in short periods of time. It makes them ideal for swing trading. SunPower stock provides a recent example.
Almost all solar stocks fell sharply on September 26. First Solar (FSLR) fell about 7% yesterday while this year’s top gainer, Enphase Energy, fell 7.5%.
JinkoSolar Holding (JKS) announces that it has entered into an agreement to supply 300 MW of high-quality Cheetah modules for a utility scale solar project in Spain.
Top solar stock First Solar (FSLR) has surged about 10% in September. FSLR is trading close to its 52-week high and might continue to march upward.
SunPower is the IBD Stock Of The Day, with the sun shining bright on the San Jose, Calif.-based maker of solar panels in a hot market. The stock has tripled in price so far this year.
For a couple of years, I've repeatedly emphasized that solar equities are great stocks to buy. One of the reasons for my bullishness about solar stocks was the rapid adoption of solar energy by most of the largest countries in the world, including the U.S., India, Japan and China.And in 2019, solar names, including my favorite companies in the space, SunPower (NASDAQ:SPWR), JinkoSolar (NYSE:JKS) and Daqo New Energy (NASDAQ:DQ), have indeed been great stocks to buy, as they have risen tremendously this year. But driven, I believe, largely by the inaccurate statements of a biased insider, solar stocks have slumped recently. I think that this decline represents a great buying opportunity, and that solar names remain great stocks to buy at this point. Solar Stocks Have Risen From the AshesFor the lion's share of 2018, most solar stocks were held back by China's decision to withhold subsidies while it reconsidered its solar policies. But solar was rapidly becoming cheaper than other forms of energy, including in many areas of China, leading me to remain extremely upbeat on solar stocks. California's decision to require all new homes to utilize solar energy, along with rapidly rising renewable mandates by other American states were also very positive for solar stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBy the beginning of 2019, it became clear that China was not giving up on solar energy and that it would resume providing meaningful subsidies to solar panel makers. Meanwhile, the increased financial competitiveness of solar, along with the other positive catalysts I described above, caused the results of many solar companies to dramatically improve.Consequently, many solar stocks have surged dramatically in 2019. For example, SPWR stock, JKS stock and DQ stock -- three names I've strongly recommended in the past -- have jumped 150%, 98% and 106%, respectively, in 2019. Insider Bearishness Has Put a Damper on Solar StocksBut in recent weeks, most solar stocks have decreased meaningfully (although many have risen recently after the attacks on Saudi Arabia caused oil prices to spike dramatically). For example, JKS stock is down 13% from its recent high, while SPWR stock has fallen nearly 20% and DQ stock is down almost 5%.The declines came almost immediately after Eric Luo, the CEO of Chinese solar company GCL System told Reuters that he thought only 20-25 gigawatts of solar energy would be installed in China annually through 2025. Last year, 41 gigawatts of solar were installed in the country. In the first half of 2019, 11.4 gigawatts were installed.However, in May, Beijing said that it had decided to spend $435 million on solar subsidies. The government noted that applications for the subsidies were due on July 1. On July 11, Reuters reported that China had decided to subsidize nearly 23 gigawatts of solar for the rest of this year. Adding that 23 GW figure to the 11.4 GW that had been reportedly installed, in the first half of the year adds up to over 34 GW. That's well over Luo's 20-25 GW estimate.Moreover, Beijing stated that "about 50 GW of solar power projects" will be installed this year, more than double the midpoint of Luo's estimate. And, as will be noted below, both JKS and DQ are extremely upbeat about the outlook for China's solar sector. Finally, multiple news outlets are reporting that, in a large part of the country, solar power is now cheaper than electricity generated by other sources. As a result, in coming years, there will be a meaningful financial incentive to build more solar projects even if government subsidies end.Luo, who was also apparently bearish on solar at the beginning of the year before solar stocks exploded higher, appears to have a bias against the solar panel sector. That's because GCL-Poly, the highly indebted parent company of Luo's GCL System, is looking to sell a 51% stake in another subsidiary, GCL New Energy. The latter subsidiary owns power plants in China.Solar power plant owners would likely benefit from low solar panel demand, which would result in low solar panel prices. Lower panel prices would enable the plant owners to expand their facilities more cheaply. As a result, GCL-Poly could demand a higher price for the stake in its unit if the outlook for solar panel demand is low.Additionally, as Luo himself told Reuters in January, "GCL's vertically integrated business model cushioned it from the downturn in prices as its solar farms benefited from cheaper panels." Consequently, it's possible that GCL would like to weaken DQ stock and JKS stock, with whom it competes, even as it remains unscathed by its bearish statements. * 10 Companies Making Their CEOs Rich In any event, as shown below, the recent quarterly results and statements of SunPower, JinkoSolar and Daqo show that their respective stocks are actually very well-positioned going forward. Solar Stocks to Buy: SunPower (SPWR)On July 1, SunPower increased its full-year EBIDTA guidance, excluding some items, to $120 million-$140 million from its previous level of $90 million-$110 million. The company's earnings-per-share came in at 75 cents, versus a loss per share of 63 cents in the previous quarter and a huge loss per share of $3.17 in the second quarter of 2018.It deployed 622 megawatts, up from 455 NW in the previous quarter and 385 in the same period a year earlier. Revenue from its North American residential business jumped more than 30% versus Q1, and its revenue from businesses deploying solar solutions surged more than 50% versus Q1. SPWR provided guidance for revenue of $1.9 billion-$2.1 billion this year, and it expects its 2019 net loss to come in between $20 million and $10 million.The market cap of SPWR stock is $1.84 billion. As a result, if the company meets its guidance, SPWR will be closing in on profitability, while SPWR stock will have a price-revenue ratio of less than 1.Additionally, the company said that it expects to benefit from growing demand for its storage and services products, while demand for its home-based solar panels in overseas markets is already quickly growing JinkoSolar (JKS)In Q2, JinkoSolar's top line surged 14% year-over-year to over $1 billion, and its gross margin came in at 16.5%, up from just 12% during the same period a year earlier. It shipped nearly 3.4 gigawatts of solar modules, 21% higher than its year-ago total. Its prior guidance was 3.2 gigawatts-3.3 gigawatts. JKS, however, did reaffirm its previous 2019 shipment guidance of 14-15 gigawatts.Importantly, however, JKS expects China to install 40 gigawatts this year, well above Kuo's forecast. The company's gross margins tend to be higher on the modules it sells in China, so its financial results and JKS stock should benefit from strong demand from China in the second half of this year.Moreover, JKS said it expects solar to become as cheap as fossil fuels in many regions of the world this year, and it is benefiting from strong demand in many emerging nations, as well as high sales in the U.S. The forward price-earnings ratio of JKS stock is less than 8, while its market cap is less than $1 billion, making its valuation extremely attractive. Interestingly, as of June 30, Bank of America, Citi, Morgan Stanley and UBS all owned sizable amounts of JKS stock, meaning that they all consider JKS a good stock to buy. I believe that bodes very well for the outlook of JKS stock. Daqo New Energy (DQ)Daqo's non-GAAP EPS beat analysts' average outlook by 16 cents in Q2, although its top line came in slightly below the average estimate. Moreover, its polysilicon sales fell meaningfully in Q2 versus Q1, and many of its other financial metrics dropped significantly last quarter.However, DQ explained that, last quarter, it focused on increasing its production capacity and conducting its annual maintenance. In Q3, DQ expects its total production capacity to jump to 9,200-9,500 megatons of polysilicon, up from just 7,151 MT in Q2. Additionally, DQ predicts that its production cost will fall to $7.50 per KG versus $8.12 per KG in Q2.Similar to JinkoSolar, Daqo predicted that 40 gigawatts to 45 gigawatts of new solar projects will be installed in China in 2019. During the current quarter, demand for polysilicon in China will exceed supply, causing polysilicon prices to increase, DQ believes.That trend will certainly be positive for DQ's results and DQ stock. Trading at a forward P/E ratio of less than 6, DQ stock has a market cap of less than $700 million. Among its key holders as of June 30 were Morgan Stanley, Citi, State Street and Bank of America, showing that they all view DQ as a good stock to buy. As of June 30, Goldman Sachs had a small, $6 million stake in the company.As of this writing, Larry Ramer owned shares of JKS stock, DQ stock and SPWR stock. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post 3 Solar Stocks to Buy While Investors Underestimate Them appeared first on InvestorPlace.
Solar stocks rallied Tuesday amid instability over Mid-East oil, with two of them among our top charts to watch. First Solar, Inc . (NASDAQ: FSLR ) jumped $2.38 to $65.82 on 1.5 million shares, or 1 1/2 ...
Two weeks ago, Walmart (NYSE:WMT) sued Tesla (NASDAQ:TSLA).Source: fotomak / Shutterstock.com The complaint, filed in New York state court, accuses Elon Musk's company of "widespread, systemic negligence" that caused Tesla's solar panel systems to spark fires at "no fewer than seven Walmart stores."The lawsuit may not inflict much direct economic harm on Tesla, but the company's reputation could suffer a serious blow from the fact that its giant corporate customers are litigating and griping.InvestorPlace - Stock Market News, Stock Advice & Trading TipsShortly after Walmart filed suit, for example, Amazon (NASDAQ:AMZN) complained that a blaze on the roof of one of its Southern California warehouses also involved a Tesla solar panel system. Tesla called it "an isolated incident."Unfortunately for Tesla, these "isolated incidents" are piling up like kindling around a funeral pyre. Tesla's Trouble Could Benefit SunPowerAccording to the Better Business Bureau, Tesla takes the grand prize for most customer complaints per solar megawatt installed. During the last year, the Bureau received an average of 20 customer complaints per 10 megawatts of solar capacity installed by Tesla. * 7 Discount Retail Stocks to Buy for a Recession That number of complaints was more than seven times the number of complaints about SunPower (NASDAQ:SPWR).Not surprisingly, as customer lawsuits and complaints accumulate around Tesla, its growth trajectory is atrophying. Even prior to the Walmart lawsuit, Tesla's solar operations had been losing market share and gaining negative press. In fact, Tesla's solar installations have been trending lower for several years, even though the total volume of U.S. solar installations has been growing.Meanwhile, the company's more well-known electric vehicle business is also facing a series of setbacks and skeptics. Tesla stock is down 35.1% over the past two years.Against this backdrop of dwindling installations, the Walmart lawsuit is unwelcome news for Tesla. Walmart has been a major customer. It has leased roof space at 240 stores to Tesla to install and operate solar systems.Clearly, Tesla will not be signing up a 241st Walmart rooftop any time soon. On the contrary, Walmart is already signing new installation agreements with alternative solar system providers … including SunPower.I recommended SunPower stock to my subscribers in the July issue of my newsletter, Fry's Investment Report -- and those shares have already made peak gains of better than 30%.It is probably no coincidence that Walmart struck a new installation contract with SPWR stock last year, soon after Tesla's solar panels began detonating on the retailer's rooftops. Specifically, Walmart contracted with SunPower to install solar systems at 21 sites in Illinois -- 19 stores and two distribution centers.Contract "wins" like these are a big part of the reason why SunPower's solar deployments are ramping up so significantly. SunPower stock is already the No. 1 provider of solar systems to U.S. commercial and industrial customers like Walmart and Target (NYSE:TGT).In other words, Tesla's troubles in the solar industry can be nothing but good news for SPWR stock - and the Fry's Investment Report portfolio.Along with Tesla there are a lot of companies out there jumping on the solar bandwagon, and there is clearly a lot of investing potential here.The International Energy Agency (IEA) anticipates global spending on solar power to total $4 trillion over the next two decades -- or about $180 billion per year.But it's all about finding the right companies that offer significant long-term potential.That's why I've released an "all solar" edition of Fry's Investment Report.In it, besides SPWR stock, I share other recommendations to get investors in on this technology's profit ground floor. And I've packed it full of other research laying out my case for solar's blindingly bright future.To learn more, I strongly suggest you go here to find out how to join Fry's Investment Report.Eric Fry is a 30-year international finance expert, former hedge fund manager, and InvestorPlace's resident expert on global investment trends. He founded his own investment management firm and served as a partner several others. One of the few analysts who predicted the last big market crash, in 2007-'08, Eric showed his readers how to profit off of companies that eventually went bust. His readers could have walked away with gains like 1,415% on Countrywide Financial, 4,408% on Fannie Mae, and even 6,425% on Freddie Mac. With Fry's Investment Report, Eric's goal is to track the world's biggest macroeconomic and geopolitical events - and help investors make big gains from those emerging opportunities. Click here to learn more. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Big IPO Stocks From 2019 to Watch * 7 Discount Retail Stocks to Buy for a Recession * 7 Stocks to Buy Benefiting From Millennial Money The post What Happened After Walmart Sued Tesla appeared first on InvestorPlace.
SunPower's (SPWR) solar solutions to be installed in a 1.6-megawatt solar project, which will be constructed at Sony Pictures' studio in Culver City.
SunPower in 2007, Regeneron Pharmaceuticals in 2015, and Randgold in 2016 both triggered a signal on when to sell top stocks: a sharp reversal to the downside in unusually heavy volume.
Almost all the solar stocks have had a fantastic run so far this year, and First Solar (FSLR) is no exception. FSLR stock is up more than 45% year-to-date.
Solar stocks had a big day. After finding support at its 50-day line Monday, SunPower skyrocketed. Investors could have bought the bounce off the 50-day//breaking downtrend. But it's also in a consolidation with a 16.14 buy point. SPWR was added to SwingTrader, SEDG to Leaderboard. FSLR also jumps from 50-day line, working on buy point.