Company Overview and News
FILIPINO company Solenergy Systems, Inc. has installed a 4.77-megawatt (mW) peak solar power system on the roof of Japan Tobacco International’s (JTI) Batangas facility, describing it as the largest self-consumption rooftop solar photovoltaic (PV) system in Southeast Asia.
Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on May 31. Among the companies we watch, short interest rose on two of three solar stocks and on three out of four alternative energy stocks.
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Solar stocks have crashed, and China is the reason. China, facing high costs in adapting to increased solar capacity, halted approval for new solar installations for the rest of 2018 and cut the feed-in tariff, a primary subsidy driving the business, by 50%.
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ReneSola Ltd. (SOL - Free Report) recently raised its revenue guidance for the first quarter of 2018. ReneSola currently expects revenues in the range of $40-$45 million compared with the previously anticipated range of $30-$35 million. It also expects solar module prices to drop significantly in the second half of the year, which will boost returns from its overseas as well as domestic projects. Reasons Behind the Guidance Raise There were multiple reasons that led the company to raise its first quarter guidance.
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JinkoSolar Holding Company Ltd. (JKS - Free Report) recently announced that its U.S.-based subsidiary has entered into a three-year agreement with sPower, an affiliate of AES Corp. (AES - Free Report) . Per the terms, the subsidiary will supply 13 gigawatt (GW) of high-efficiency solar modules to sPower. Solar Prospects in the U.S. A key area of the renewable space in the United States is solar energy.
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The Chinese government’s announcement of a sudden policy makeover on Jun 1, involving a significant cut down in subsidies offered to the nation’s solar projects, dealt a major blow to the solar industry worldwide. Since China is the largest solar market in the world, such an upheaval had a rippling effect on the global solar industry.
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Canadian Solar Inc. (CSIQ - Free Report) has been on a bit of a cold streak lately, but there might be light at the end of the tunnel for this overlooked stock. And for technical investors there is some hope when looking at CSIQ given that, according to its RSI reading of 20.38, it is now in oversold territory.
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SHANGHAI/BEIJING (Reuters) - Chinese solar panel makers have urged Beijing to delay surprise subsidy cuts and relax a cap on new projects, according to a letter reviewed by Reuters, protesting that the policy will damage a sector already struggling financially.
(Reuters) - China’s unexpected move to slash incentives for solar power has sent stocks into a free fall and prompted analysts to lower forecasts for global installations this year amid expectations that a glut of excess panels would send prices tumbling.
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BEIJING: Remember how there was a glut of computer chips in 2008, and then the world stopped using computer chips? Yeah, me neither. That’s a good reason to discount your worries about the effects on solar power from recent policy blows on panel manufacturers by the US and Chinese governments.
In a surprise move on Friday, June 1, China announced that it would no longer be granting subsidies to new solar projects, and those that are currently under construction will be reduced by 0.05 yuan per kilowatt-hour to 0.32 yuan per kilowatt-hour. In its joint statement, the National Development and Reform Commission, Ministry of Finance, and National Energy board stated that the move was made “to promote the healthy and sustainable development of the photovoltaic industry, improve the quality of development, and accelerate the subsidy retreat, the relevant issues of photovoltaic power generation in 2018.
For people who want to invest in a fairly narrow theme and don’t want the relatively high risk that investing in one or two companies bring, exchange-traded funds (ETFs) are a great option.
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Enphase Energy (ENPH - Free Report) recently announced that it has joined hands with Waaree Energies for installing a 4.5 mega watt (MW) solar power plant, in Hosapet, India. On completion, the plant will emerge as Enphase Energy’s largest microinverter-based solar plant installation, across the world. Details of the Deal Waaree Energies’ solar AC photovoltaic (PV) modules will be installed in the aforementioned power plant, which possess the ability to generate solar power in low and diffused light condition.
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Estimates for Occidental Petroleum Corporation (OXY - Free Report) have been revised upward over the past 30 days, reflecting analyst’s confidence in the stock post solid first-quarter 2018 results. The Zacks Consensus Estimate for 2018 and 2019 earnings has moved up 26.8% and 39.8% to $3.79 and $4.04, respectively. Occidental Petroleum is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America.
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2018-06-11 - Asif
Overview Proteon Therapeutics is a late-stage biopharmaceutical company focused on the development of novel, first-in-class pharmaceuticals to address the needs of patients with renal and vascular disease. The company's product candidate, vonapanitase, is a recombinant human elastase that Proteon Therapeutics is developing to improve vascular access outcomes in patients with chronic kidney disease, or CKD, undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access. The company believe data from its completed Phase 2 and Phase 3 clinical trials of vonapanitase support that a one-time, local application of investigational vonapanitase during surgical creation of a radiocephalic fistula for hemodialysis may improve fistula use for hemodialysis and secondary patency (time to fistula abandonment), thereby improving patient outcomes and reducing the burden on patients and the healthcare system. Arteriovenous fistu...
2018-06-11 - Asif
Overview Galena Biopharma is a clinical-stage biopharmaceutical company focused on novel cancer immunotherapeutics for a broad range of cancer indications. The company's lead product candidate, galinpepimut-S, or GPS, is a cancer i unotherapeutic agent licensed from Memorial Sloan Kettering Cancer Center, or MSK, that targets the Wilms tumor 1, or WT1, protein, which is present in 20 or more cancer types. Based on its mechanism of action as a directly immunizing agent, GPS has the potential as a monotherapy or in combination with other immunotherapeutic agents to address a broad spectrum of hematologic, or blood, cancers and solid tumor indications. Phase 2 clinical trials for GPS have been completed and Galena Biopharma has planned Phase 3 clinical trials (pending funding availability) for two indications, acute myeloid leukemia, or AML, and malignant pleural mesothelioma, or MPM. GPS is also in development as a potential treatment for multiple myeloma, or MM, and ovarian can...
2018-06-11 - Asif
Overview Stemline Therapeutics was incorporated under the laws of the State of Delaware in August 2003. Stemline Therapeutics is a clinical stage biopharmaceutical company focused on discovering, acquiring, developing and potentially commercializing innovative oncology therapeutics that target difficult to treat cancers. The company's clinical pipeline includes: SL-401, SL-801, and SL-701. SL-401 pivotal data; plans for registration and potential commercialization: SL-401 has completed a pivotal trial in patients with blastic plasmacytoid dendritic cell neoplasm, or BPDCN, and has successfully met the primary endpoint of the trial. SL-401 is a targeted therapy directed to the interleukin-3 receptor-a, or CD123. SL-401 was granted breakthrough therapy designation, or BTD, by the U.S. Food and Drug Administration, or FDA, for the treatment of patients with BPDCN. Based on the trial results and other data, the company expect to complete submission of a rolling Biologics License...
as of ET