News Flow Continues To Sour For Solar Stocks (SOL, LDK, STP, TSL, YGE, FSLR)
Shares of ReneSola (SOL) are plunging 5% after the Chinese solar firm forecast second-quarter revenue of $280-$300 million, well below the $340 million analysts were expecting. Perhaps making matters worse were comments from the company that it is maintaining a cautious outlook due to uncertain government policies toward the solar industry.
ReneSola also said it expects second-quarter shipments to be flat or up 20 megawatts in the 330-350MW range and that gross margin will decline to 25%-27% from 30%. The news comes a day after LDK Solar Company (LDK) slashed its first-quarter revenue and shipment guidance. To its credit, the Chinese Solar Stocks Index is flat on the day.
In one small bright spot for the solar sector, Italy, one of Europe’s top users of solar power, will extend solar industry incentives until the end of August, but even that plan isn’t likely to result in new investment in the country’s solar sector. Suntech Power Holdings Co (STP), Trina Solar (TSL), Yingli Green Energy Hldng (YGE) and First Solar (FSLR) are among the solar firms that are active in Italy.
Shares of Trina Solar are up 1% after the company announced a research partnership with Australia National University that will see the two parties work together to create n-type monocrystalline solar cells. The project could also help Trina boost the efficiency of its standard p-type multicrystalline silicon solar cells.
Investors can track the Chinese Solar Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Solar Soars Again: Is A Pull Back Looming? (The Market Financial, 5/13/13)
Will Solar Industry’s Overcapacity problems be solved by 2015? (Green World Investor, 5/15/13)
Every Solar thermal Plant in India is delayed, still the Government wants to award more (Green World Investor, 5/13/13)
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