Alternative Energy companies taking advantage of the recent run with ‘Stock offerings’
Who can blame the Solar and Wind Energy companies. Their stock prices are at all-time high’s and everyone (Wallstreet, Politicians (at least they say they do) and the average Joe) loves them. Everytime you think they are too expensive they keep proving you wrong and keep making new highs.
Of course they are going to take advantage of this and offer more stock. The news release date is in parenthesis
Solar Energy Stocks
- Sunpower (Nasdaq: SPWR): Solar panel maker SunPower Corp. plans a public offering of about 2.5 million class A shares and $175 million in senior debt. (July 19th, 2007).
- Trina Solar (NYSE: TSL): Priced a follow-on public offering of about 5.4 million American depositary shares at $45 each. The stock fell to low 40’s the day news was announced but is now trading in the low 60’s. I think about buying Trina Solar everytime it falls but never pull the trigger and then it takes off (June 1st, 2007)
- First Solar (Nasdaq: FSLR): Filed to raise about $1 billion in a stock offering. The company plans to offer 9.65 million shares in the stock offering. As William Trent pointed out the price fell far less then expected. I couldn’t agree with him more. Of course, I am the fool who got burned shorting First Solar. For the last few weeks or so I have made up some of my losses by buying Call Options but still in red overall. Right now I only own Put Options. This could still shoot up any day so I might buy Call options in next few days to hedge my short position. Just an incredible run so far for First Solar but sooner or later is had to end. Doesn’t it? On a side note, look at how much money First Solar’s CEO has made so far. (July 20th, 2007)
- Evergreen Solar (Nasdaq: ESLR): Evergreen Solar Offering of 15 Million Shares Priced at $8.25. The company expects proceeds of about $117.4 million, which will be used on manufacturing expansion, on raw materials and as working capital. (May 24th)
Wind Energy Stocks
- American Semiconductor (Nasdaq: AMSC): Offering 4.7 million shares priced at $21.25 a share. I owned options on AMSC a few months ago and sold them for over 100% gains. Could have made much more if I would have held on. (July 20th, 2007)
Can’t blame these companies to take advantage of these booming times. The effect on their stock price seems negligible after the news and in most cases are trading higher now. So who’s next in line for a Stock offering?
* I own Put Options of FSLR and might buy some calls in the next few days. I might also buy Put or Calls on any of these companies in the coming days.
- Solar Energy Stocks Weekly Report - Week ending February 02, 2007
- Energy Stocks to keen an eye on during this downturn
- Solar Stock Week-over-Week Price change vis-a-vis Oil Price - Week Ending November 12, 2006
- Andersons taking full advantage of the red hot ethanol sector
- Solar and Wind stocks go crazy along with the overall market
July 28th, 2007 at 12:42 pm
Great post. These names have really been on a roll lately. I mentioned your article here.
Looking forward to reading more of your work.
Zach
July 31st, 2007 at 12:20 am
One wind stock that’s recently taken off is a company called Composite Technology (CPTC). They’ve recently taken control of EU Energy, and through this, Dewind brand Turbines (up to 2MW). There are alot of reasons to suspect that this company will take off, as they’re in an excellent market position, as their technology allows them to make sales in N America without the need for treading on GE patents. They might be worth a look.