Solar Stocks, Major Volume on Analyst Calls (ASTI, ENER, FSLR, SOLF, STP, YGE)

Posted in General 
August 21st, 2009

Today’s downgrades took a toll on the solar sector.  We saw a serious rise in volume as prices tanked and many of these never showed any real recovery throughout the day as investors grow more and more concerned that the solar energy trade is just not a beneficial one even if oil continues its rise….

Ascent Solar Technologies Inc. (ASTI) was cut to Underperform at Jefferies.  It actually defied the solar sector and closed flat after being down almost 10%.  It traded over 400,000 shares, which is about twice its average daily volume.

Energy Conversion (ENER) was cut to Underperform at Jefferies.  It fell by 2.75% to $12.36 and traded over 2.3 million shares versus average volume of 2.1 million shares.

First Solar (FSLR), the leader, was cut to Hold from Buy at Jefferies. It closed down 6.8% at $121.54 on over 7.1 million shares, more than double its average volume of 3.4 million shares.

SolarFun Power (SOLF) was cut to Underperform at Jefferies.  It closed down 2.6% at $5.51 on 1.816 million shares versus an average volume of 1.57 million shares.

Suntech Power Holdings Co. Ltd. (STP) was cut to Underperform at Jefferies.  It closed down 3.1% at $15.30 and traded over 11 million shares versus an average daily volume of 7.9 million shares.

Yingli Green Energy Holding Co. Ltd. (YGE) was raised to Overweight at HSBC and was one of the very few actively traded solar winners Friday.  It traded up 0.6% to $11.07 on 10.6 million shares versus an average daily volume of 8.8 million shares.

JON OGG

Comments are closed

-->