Editor’s Note: Related tickers: SolarCity Corp (NASDAQ:SCTY), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWR), Real Goods Solar, Inc. (NASDAQ:RSOL), General Electric Company (NYSE:GE), Credit Suisse Group AG (NYSE:CS)
After markets closed Tuesday night, solar installer Real Goods Solar, Inc. (NASDAQ:RSOL) reported that revenues fell 3% and that it took an earnings per share loss of $0.11. Just a week ago SolarCity Corp (NASDAQ:SCTY) also reported a larger-than-expected loss. …SolarCity Corp (NASDAQ:SCTY) forecast a sharp decline in revenue for its current quarter and a larger earnings per share loss than analysts were expecting. Real Goods Solar, Inc. (NASDAQ:RSOL) also said that it planned to look for additional acquisitions, having already acquired two smaller companies. SolarCity Corp (NASDAQ:SCTY) announced yesterday that it had acquired Paramount Solar, a direct marketer of solar energy products. But if Real Goods Solar, Inc. (NASDAQ:RSOL)’ experience with acquisitions is any guide, investors don’t see acquisitiveness as a solution.
First Solar Director Buys $40,680 in Stock (FSLR) (MideastTime)
First Solar, Inc. (NASDAQ:FSLR) Director Richard Chapman purchased 1,000 shares of the stock in a transaction that occured on Friday, August 9th. The stock was purchased at an average price of $40.68 per share, for a total transaction of $40,680.00. Following the completion of the transaction, the director now directly owns 6,509 shares of the company’s stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Several analysts have recently commented on the stock. Analysts at Argus cut their price target on shares of First Solar, Inc. (NASDAQ:FSLR) from $55.00 to $51.00 in a research note to investors on Friday, August 9th.
SolarCity to pay $120 mln for direct marketing company (Reuters)
SolarCity Corp (NASDAQ:SCTY) on Tuesday said it would buy direct marketing solar company Paramount Solar for about $120 million in a deal that is expected to help the U.S. panel installer cut the cost of acquiring new customers. Paramount Solar is majority owned by Guthy Renker LLC, the direct marketing company best known for its Proactiv skin care line. Guthy Renker’s Chief Executive, Ben Van de Bunt, is expected to join SolarCity Corp (NASDAQ:SCTY)’s board of directors later this year. Paramount has grown rapidly thanks to a business model that relies on virtual sales direct to consumers. SolarCity Corp (NASDAQ:SCTY)’s growth, in comparison, has come from selling systems through its rapidly expanding network of field sales agents. Paramount has sold SolarCity Corp (NASDAQ:SCTY) systems for some time.
The power of First Solar, Inc (NASDAQ:FSLR)’s value (GDPInsider)
Very recently, First Solar, Inc. (NASDAQ:FSLR) and General Electric Company (NYSE:GE) announced a partnership. General Electric Company (NYSE:GE)’s technology will be used in tandem with First Solar, Inc. (NASDAQ:FSLR)’s solar technology to build large scale solar farms. As far as the solar company’s stakeholders are concerned, this information can have different connotations. Via this deal, First Solar, Inc. (NASDAQ:FSLR) has acquired General Electric Company (NYSE:GE)’s global cadmium-telluride solar intellectual-property portfolio. In lieu of this, First Solar, Inc. (NASDAQ:FSLR) granted General Electric Company (NYSE:GE) 1.75M common stock shares which the latter will retain for a minimum of 3 years. In addition, this partnership includes commercial cooperation of First Solar, Inc. (NASDAQ:FSLR)’s module and General Electric Company (NYSE:GE)’s inverter.
Nasdaq in extreme overbought territory: Bespoke (CNBC)
SolarCity Corp. PT Raised to $42.00 at Roth Capital (SCTY) (Zolmax)
SolarCity Corp (NASDAQ:SCTY) had its target price lifted by Roth Capital from $30.00 to $42.00 in a research note released on Thursday morning, Stock Ratings Network reports. They currently have a neutral rating on the stock. A number of other firms have also recently commented on SCTY. Analysts at Maxim Group initiated coverage on shares of SolarCity Corp (NASDAQ:SCTY) in a research note to investors on Tuesday, July 9th. They set a hold rating on the stock. Separately, analysts at Credit Suisse Group AG (NYSE:CS) upgraded shares of SolarCity Corp (NASDAQ:SCTY) from a neutral rating to an outperform rating in a research note to investors on Friday, June 14th.
Argus Lowers First Solar Price Target to $51.00 (FSLR) (UtahPeoplesPost)
First Solar, Inc. (NASDAQ:FSLR) had its price objective reduced by Argus from $55.00 to $51.00 in a report released on Friday, American Banking & Market News reports. Argus currently has a buy rating on the stock. Shares of First Solar, Inc. (NASDAQ:FSLR) traded down 4.39% during mid-day trading on Friday, hitting $38.79. First Solar, Inc. (NASDAQ:FSLR) has a 52 week low of $18.30 and a 52 week high of $59.00. The stock’s 50-day moving average is currently $46.15. The company has a market cap of $3.787 billion and a P/E ratio of 10.75.
SunPower Corporation (NASDAQ:SPWR) shares lose by 9.90% (FinancialStrend)
On the heels of its 2nd quarter earnings declaration, SunPower Corporation (NASDAQ:SPWR) is balanced at $25.20, having lost nearly 8.9% on the day. While the firm swung to a quarterly income and topped predictors’ per-share estimations, reacting to the firm’s third-quarter proceeds supervision or investors may be selling on the news, which was lower than predictors were expecting. The firm still has plenty of fans on Wall Street as well as Credit Suisse Group AG (NYSE:CS), Northland and Baird all upped their corresponding 12 month rate targets on the shares. What’s more, further value target climbs could be in the cards; the present agreement view of $22.99 sits below the reserve’s present price. SunPower Corporation (NASDAQ:SPWR) produced a GAAP gross margin of 18.7%.
