POINT ROBERTS, WA and DELTA, BC , XsunX Inc. (OTCBB: XSNX),
J.Peter Lynch and Dr. Robert Wilder, CEO and Founder of The
Wilderhill Clean Energy Index.
Solar Stocks Sector Close-Up: *As of May 13, 2008
Canadian Solar Inc. was up $6.68 (19.59%) on reported
preliminary unaudited US GAAP financial information for the first
quarter ended March 31, 2008. Net revenues for the quarter were
$171.2 million (including $2.2 million of silicon material sales),
compared to net revenues of $17.5 million for the first quarter of
2007 (including $2.8 million of silicon materials sales) and $127.5
million for the fourth quarter of 2007 (including $2.4 million of
silicon materials sales). Net income for the quarter was $19.0
million, or $0.61 per diluted share, compared to a net loss of $3.9
million, or $0.14 per diluted share, for the first quarter of 2007
and net income of $5.9 million, or $0.21 per diluted share, for the
fourth quarter of 2007.
In a press release issued by the company, Dr. Shawn Qu, Chairman
and CEO, commented, "Our impressive performance in the first
quarter was due to a result of robust market demand for our
products, strong pricing, effective management of foreign exchange
exposure, strong operational execution of our flexible vertical
integration business model, and our balanced supply strategy, which
allowed us to increase our product delivery despite a general
market shortage of silicon materials."
The Claymore/MAC Global Solar Energy ETF that tracks an index of
25 global solar companies was up $0.84 (3.16%) as of the end of
trading.
Dr. Robert Wilder, CEO and Founder of the Wilderhill Clean
Energy Index, noted, "A couple of fairly different, conflicting
factors are impacting solar power right now: in Europe the ongoing
demand from Germany plus more recent entrants like Spain are
helping push sales globally. On the other hand looking at the
domestic picture, a key Federal tax credit for wind and solar that
probably should have been passed in the U.S. some months ago has
continued to be held up. Here the Bush Administration has opposed
allowing the subsidies now given to oil, to instead be switched to
renewables. So companies exporting solar panels from low-cost
regions like China, to high demand Europe are faring rather well.
By contrast the U.S., which once was the global leader in solar
power, continues to face headwinds with our domestic manufacturers
finding better growth in technological innovation areas like thin
films. There is some hope however that more favorable State
policies, such as in California, will begin to be embraced next
year in a faster-evolving Federal solar policy at the national
level."
The Wilderhill Clean Energy Index was up $5.08 (2.30%) at the
close May 13, 2008.
Tom Djokovich, CEO, of California based XsunX, Inc. (OTCBB:
XSNX), reports, "This year we began executing plans developed last
year, to build a thin film amorphous solar module manufacturing
facility. Recently we secured a 90,000 sq. ft. facility in Portland
OR, to house our first 25MW with over $1 million of nearly new
manufacturing support infrastructure in place, and we're working to
finalizing several important material supply contracts. While we've
been working to get our commercial production ready for first
quarter 2009 it appears that the industry has begun to take notice
of the superior solar absorbing qualities of amorphous silicon.
Several other companies have begun announcing their move towards
amorphous and I believe that this lends credibility to the path we
have taken."
CEO Ezra Green, provides insight from his solar company with,
"At Clear Skies Solar (OTCBB: CSKH) we're seeing an increase in
inquiries and business not only from large US Corporations who are
looking for ways to minimize utility expenses, but also from
countries such as Spain and Greece and developing countries like
India seeking viable energy solutions. We are even being approached
by commercial farmers trying to reduce their carbon footprints. In
addition, with our own internal research and development
department, we're also able to keep ahead of the curve in providing
innovative technologies for solar energy users. Clear Skies Solar's
XTRAX�, which delivers reliable autonomous data readings for solar
energy systems around the United States, is just one example of the
innovative new products we are bringing to market."
Clear Skies Solar (OTCBB: CSKH) closed up 14.81 % at market
close.
According to solar expert J.Peter Lynch, "Solar Stocks have
again surprised the street and beaten estimates, some by a wide
margin. I do expect that the industry will see some margin
pressures in 2009, but for now solar stocks have regained momentum
and are for the most part technically strong."
"As you can see from the table below. Most of the stocks are
above their short-term technical support (50-day moving average) as
well as, their longer term technical support (200-day moving
average). Momentum is strong and they appear to be coming back from
their recent correction."
US Photovoltaic Related Stocks:
*As of Market data May13, 2008
Recent
Name Price 50 Day MA 200 Day MA
Akeena Solar, Inc. 5.2 6.658 6.797
Ascent Solar Technologies, Inc. 15.26 14.285 15.146
Canadian Solar Inc. 34.1 23.652 17.026
China Sunergy Company Ltd. 9.94 8.196 9.141
Distributed Energy Systems Corp. 0.44 0.478 0.601
DayStar Technologies Inc. 4.04 3.188 4.09
EMCORE Corporation 6.92 7.425 9.659
Energy Conversion Devices Inc. 51.62 31.343 28.395
Evergreen Solar, Inc. 8.21 9.191 10.81
First Solar, Inc. 284.84 249.255 188.353
JA Solar Holdings Co., Ltd 22.1 19.963 17.732
LDK Solar Company Ltd. 37.46 29.619 40.254
ReneSola, Ltd. (United Kingdom) ADR 18.83 13.125 12.733
Solarfun Power Holdings Co. 14.94 12.925 15.319
Spire Corporation 13.71 14.753 15.806
Sunpower Corporation 84.4 78.013 89.574
Suntech Power Holdings 41.6 40.976 50.162
Trina Solar Limited 41.6 36.584 44.772
MEMC Electronic Materials, Inc. 67.44 74.049 70.417
Yingli Green Energy Holding Company Limited 22.58 19.429 24.074
For investors following solar stocks, the
RenewableEnergyStocks.com website provides a comprehensive list of
photovoltaic and solar stocks to research.
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTCBB:
CSKH) through its wholly owned subsidiary provides full-service
renewable energy solutions to commercial, industrial, and
agricultural clients across the country. More info can be found on
the Investorideas.com Company Showcase, or the company website at
www.clearskiesgroup.com.
Featured Showcase Solar Company: XsunX Inc. (OTCBB: XSNX) is
developing amorphous silicon thin film photovoltaic (TFPV) solar
cell manufacturing processes to produce TFPV solar modules. More
info can be found on the Investorideas.com Company Showcase, or the
company website at http://www.xsunx.com/.
Disclaimer: Our sites do not make recommendations. Nothing on
our sites should be construed as an offer or solicitation to buy or
sell products or securities. We attempt to research thoroughly, but
we offer no guarantees as to the accuracy of information presented.
All Information relating to featured companies is sourced from
public documents and/ or the company and is not the opinion of our
web sites. Disclosure: XsunX and Clear Skies Holdings compensate
the website $5000 per month.
www.InvestorIdeas.com/About/Disclaimer.asp
Add to Digg Bookmark with del.icio.us Add to Newsvine
For more information contact: Dawn Van Zant 800.665.0411 Email:
Email Contact
NovAccess Global (QB) (USOTC:XSNX)
Historical Stock Chart
From Jun 2024 to Jul 2024
NovAccess Global (QB) (USOTC:XSNX)
Historical Stock Chart
From Jul 2023 to Jul 2024