Blog > Editor's Pic > ReneSola (SOL) is our new solar earnings speculation
 | Email This Article Email This Article  | 

ReneSola (SOL) is our new solar earnings speculation

Posted August 12, 2008

After Chinese solar cell maker LDK Solar Co., Ltd. (NYSE: LDK) saw share prices grow 15% today, chances are that ReneSola Ltd. (NYSE:SOL) may do the same on Tuesday.

by J. Christoph Amberger

Baltimore — (TFN): Chinese solar cell maker LDK Solar Co., Ltd. (NYSE: LDK) apparently is coping quite well with the proposed loss of German subsiies.  The company reported Q2 revenues surging 89.2% to $441.7 million after total wafer shipments increased 60.8% during the quarter. Gross margins ended up at 25.4%. (Obama, are you listening?! Can you spell “windfall profits”?)

LDK expects revenues between $486 million and $496 million on shipments of between 210 megawatts and 220 megawatts of wafers in the third quarter: “The company also lifted its full year guidance to between $1.65 and $1.75 billion compared to between $1.08 and $1.18 billion earlier.”

The stock is still trading well below its 52-week high of $76.75. The stock gained over 17% today.

While most other publicly traded solar companies were gaining today, one in particular stood out: ReneSola Ltd. (NYSE:SOL), another Chinese wafer maker, announced that it would report unaudited Q2 financials on Tuesday, Aug. 19, before the market open. The stock gained over 11% to trade at $15.36.

Call me crazy, but those earnings just might be something!

We’ll play: Buy ReneSola Ltd. (NYSE:SOL) between $15-16 in view of an earnings-induced bounce of another 20% by next Tuesday.

****Make sure you sign up for our FREE TFN News Feed for breaking news, special reports and new financial videos. Sign up through your favorite reader here. Or, if you prefer, have the feed delivered to your email.


Related Articles


Posted by J. Christoph Amberger · Filed Under Editor's Pic, Oil and Energy 

Comments

close Reblog this comment
Powered by Disqus · Learn more
blog comments powered by Disqus