Solar Stocks Week-over-Week Price change - Week ending January 05, 2007
Well, are you really surprised? With oil prices collapsing last week it was pretty obvious that Solar stocks will take a hit. That’s exactly what happened as only MEMC Electronics (NYSE: WFR) closed the week up.
I don’t follow Daystar Technologies (Nasdaq: DSTI) but the stock made a new 52-week low this week of $2.42 and closed the week down about 34%. This was obviously not Crude Oil price decline related.
- MEMC Electronics (NYSE: WFR): 2.94%
- Nasdaq: 0.78%
- Dow: (0.52%)
- S&P 500: (0.61%)
- Hoku Scientific (Nasdaq: HOKU): (1.15%)
- PS WILDERHILL ENR (AMEX: PBW): (1.74%)
- Trina Solar (NYSE: TSL): (1.80%)
- SunTech Power (NYSE: STP): (2.00%)
- Energy Conv. (Nasdaq: ENER): (2.09%)
- Canadian Solar Inc. (Nasdaq: CSIQ): (3.15%)
- Evergreen Solar (Nasdaq: ESLR): (3.17%)
- SunPower Corp. (Nasdaq: SPWR): (3.20%)
- Spire Corp. (Nasdaq: SPIR): (4.68%)
- Solarfun Power: (4.79%)
- First Solar Inc. (Nasdaq: FSLR): (5.66%)
- Crude Oil: (7.76%)
- Daystar Tech. (Nasdaq: DSTI): (33.96%)
* I am long STP, ESLR and short FSLR
- Solar Stocks Weekly Report - Week ending January 12, 2007
- Solar Stock Week-over-Week Price change vis-a-vis Oil Price - Week Ending November 12, 2006
- Solar Stocks Week-over-Week Price change - Week ending December 24, 2006
- Solar Stocks Weekly Report - Week ending January 19, 2007
- Solar Stocks Week-over-Week Price change - Week ending April 06, 2007
January 9th, 2007 at 10:56 am
I note that you are long ESLR; I am as well. I haven’t seen any news that tells me why ESLR should be trending down since October while the likes of FSLR, STP, and SPWR have been doing much better (disregarding the recent drop in crude prices). Now with the CFO leaving, I’m wondering if there is something wrong internally.
January 9th, 2007 at 11:48 am
Jon,
I got out of ESLR a few weeks ago and got back in the 7.30s I believe. I have two theories on why ESLR isn’t doing so well: (this is just speculation on my part):
1. There are now a number of Solar stocks in the market to choose from and some investors might have decided to move money into other solar stocks.
2. There is some concern of Solar Panel prices prices falling in Europe and government support concern in Europe as well.
3. No significant news is also affecting it in my opinion. Lot of the investors who invest in alternative energy are speculative and might not stay in for the long term. There is a lot of short interest in this stock: Short % of Float = 26.47 % so hopefully will see a bounce sooner rather than later.
For a while now we have seen ESLR swing between high 7’s - low 9’s but this time it has made its 52-week low. I am just waiting on shorts to cover at this point.
I have no idea what’s going on internally. I don’t see any significant insider selling which makes me feel good.
http://www.form4oracle.com/company?cik=0000947397&ticker=eslr