Volume Spike Investor

Akeena Solar Inc. (NASDAQ: AKNS) has already passed its average daily trading volume this morning, only about 35 minutes into the trading day.  At $6.59 at 10:05AM EST this stock is up $0.70 or almost 12%.  It has also traded 1,650,154 shares and that is compared to an average daily trading volume of about 1.18 million per day.  This is already almost the most volume seen in a week and this should easily top its most recent active days until you go back to very early in January.

The culprit is a “coverage initiation” from a boutique research firm called Kaufman Bros. late yesterday, where the firm gave Akeena a BUY rating and a $12.00 target.

Unlike many of the other solar players, Akeena is not profitable and is not expected to be profitable in 2008 nor in 2009.

Jon Ogg
May 28, 2008