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T. Boone Pickens gave a CNBC interview this morning with new energy predictions and trends to watch that he has not discussed before. Pickens is still maintaining that natural gas is the key for vehicles now that has passed. September was a horrible month of spending money for overseas energy. He noted that China has spent some $200 billion buying oil supplies around the world that will tie up oil. Pickens believes that the oil supply will be very tight when the recovery starts. He still is maintaining that wind is a necessity as are other alternative energies. His predictions are somewhat the same, but Pickens does still hold the case for far higher oil prices for 2010 and beyond.
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Posts for Ticker ‘CLNE’
T. Boone Pickens Outlines 2010 Oil Price Targets (CLNE)
T. Boone Pickens Oil Targets For 2009 and 2010 (CLNE)
Today marked the one-year anniversary of the launch of The Pickens Plan. Oil magnate T. Boone Pickens was giving a large update and gave his oil targets for 2009 and 2010 in a CNBC interview early this morning. He is still touting natural gas as the replacement for dependence upon foreign oil as a bridge until batteries and other technologies can be perfected. In the climate bill and in Washington they have now included the smart grid and renewables, and he is looking for natural gas to replace the gasoline or diesel in the hundreds of thousands of big trucks on the roads. While Pickens does not normally name his own play in natural gas for vehicles, the Pickens play is Clean Energy Fuels Corp. (NASDAQ: CLNE).
On wind, there is a change now that natural gas is so low and it has driven the cost effectiveness down. Pickens is calling for $75.00 oil by the end of this year. He is sticking with an earlier target of $80 to $85 per barrel as an average price for 2010.
With oil trading under $65 this morning, this might sound bullish for oil and energy prices. But it is far less bullish and far less aggressive than what Pickens has been known for.
Jon C. Ogg
July 7, 2009
Short Sellers Confused in Alternative Energy Bets (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, JASO, LDK, SFUN, SPWRA, STP)
We have seen the new short interest data out of the NASDAQ and NYSE for the end of May reports. There are many mixed bets in the alternative energy sector. While some of these are large bets on the surface, overall there was a very small change in the latest short interest data compared to months past.
COMPANY NAME (TICKER)……….. MAY 29… Change from May 15
Canadian Solar Inc. (CSIQ)…………2,549,840 -4.3%
Capstone Turbine Corp. (CPST)…… 17,568,058 +5.8%
Clean Energy Fuels Corp. (CLNE)….3,919,108 -0.1%
Energy Conversion Devices (ENER) 12,649,722 +3.7%
Evergreen Solar, Inc. (ESLR)………. 20,225,435 +0.5%
First Solar, Inc. (FSLR)……………… 6,995,776 -2.4%
FuelCell Energy, Inc. (FCEL)………. 5,861,532 +1.7%
GT Solar International (SOLR)……. 5,558,018 -9.7%
JA Solar Holdings, Co. (JASO)……. 6,652,651 +10.4%
LDK Solar Co. Inc. (LDK)…………… 13,719,877 +4.1%
Solarfun Power Holdings Co. (SFUN) 1,337,324 -7.1%
SunPower Corp. (SPWRA)……………. 13,885,421 +9.7%
Suntech Power Holdings Co. (STP)… 10,706,960 +8.1%
Usually you see a clear trend or direction in the alternative energy sector. That does not appear to be the case. As oil has risen steadily, the downside of betting against these may be to steep and managers telling their clients they bet against the rally after all the pain seen already is probably more than a tough sell.
JON C. OGG
JUNE 10, 2009
Growing Natural Gas Fuel Station Footprint (CLNE, EXH)
Clean Energy Fuels Corp. (Nasdaq: CLNE) is adding more natural gas fueling stations. The Pickens-backed business is acquiring the natural gas fueling station business of Exterran Holdings, Inc. (NYSE: EXH), including natural gas station operations and maintenance contracts covering approximately 25 million gasoline gallon equivalents of natural gas fuel on an annual basis for four transit operators (eight fueling facilities).
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Short Sellers Double Down Against Green & Alternative Energy (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, JASO, LDK, SFUN, SPWRA, STP)
There was what appears to be a massive increase in short selling for the period report ending March 13, 2009. The short selling increases in companies like First Solar, Inc. (NASDAQ: FSLR), Suntech Power Holdings Co. (NYSE: STP), SunPower Corp. (SPWRA) and others were well into double digits. Of our main go-to alternative or green stocks we cover, only one of them saw a decrease in short selling.
COMPANY NAME (TICKER)……….. MARCH 13.. Change
Canadian Solar Inc. (CSIQ)………… 3,506,879 -2.35%
Capstone Turbine Corp. (CPST)…… 16,385,245 +2.68%
Clean Energy Fuels Corp. (CLNE)…. 4,204,801 +0.5%
Energy Conversion Devices (ENER) 14,117,686 +4.5%
Evergreen Solar, Inc. (ESLR)………. 23,355,600 +6.7%
First Solar, Inc. (FSLR)………………. 10,918,475 +32.1%
FuelCell Energy, Inc. (FCEL)……….. 6,918,766 +11.6%
GT Solar International (SOLR)…….. 2,043,429 +9.8%
JA Solar Holdings, Co. (JASO)…….. 7,233,429 +14.4%
LDK Solar Co. Inc. (LDK)……………. 11,831,376 +3.2%
Solarfun Power Holdings Co. (SFUN) 2,660,846 +11.3%
SunPower Corp. (SPWRA)……………. 9,483,348 +12.8%
Suntech Power Holdings Co. (STP)… 9,955,282 +28.2%
JON C. OGG
March 25, 2009
T. Boone Pickens & Bullish Oil Call (T, CLNE)
Maria Bartoromo just had a quick interview with oil baron T. Boone Pickens. This was after the announcement that AT&T Inc. (NYSE: T) said it plans to spend up to $350 million over five years to buy more than 8,000 vans and trucks and will then convert them to run on compressed natural gas. Pickens didn’t note it, but this is right up the alley of his Clean Energy Fuels Corp. (NASDAQ: CLNE).
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Pickens & Pelosi: Clean Energy Does Better Than Expected (CLNE)
Clean Energy Fuels Corp. (NASDAQ:CLNE) reported a quarterly EPS loss of -$0.09, excluding certain items, beating analysts’ estimates of a loss of -$0.37. Revenue was essentially flat with the fourth quarter of 2007 at $29.6 million, compared with estimates of $34.51 million.
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Short Sellers Active In Green Energy Stocks (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, JASO, LDK, SFUN, SPWRA, STP)
There were some really large increases in the short interest from alternative energy companies such as Energy Conversion Devices (NASDAQ: ENER), JA Solar Holdings (NASDAQ: JASO), and LDK Solar Co. Inc. (NYSE: LDK). What is interesting is that First Solar, Inc. (NASDAQ: FSLR) posted disappointing earnings, yet the short interest actually decreased there.
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Alternative Energy Short Selling Decreases (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, HOKU, JASO, SFUN, SPWRA, SPWRB)
Short selling is not always just used as a bet against a stock, but that is what Wall Street evaluates short interest for. We did note a drop in short selling on NASDAQ from mid-December to December 31. But it is odd that short selling in alternative energy stocks has come down too. this is despite how weak some of the alternative energy stocks have been and how the industry is being gutted by sudden cheap energy prices again.
Stock (Ticker) Dec. 31 Dec. 15 Change
Canadian Solar Inc. (CSIQ) 2,221,041 2,535,153 -12.39%
Capstone Turbine Corp. (CPST) 15,238,501 15,982,879 -4.66%
Clean Energy Fuels Corp. (CLNE) 3,766,746 3,363,349 +11.99%
Energy Conversion Devices (ENER) 10,903,594 11,784,508 -7.48%
Evergreen Solar, Inc. (ESLR) 23,030,783 24,041,949 -4.21%
First Solar, Inc. (FSLR) 7,586,475 7,725,457 -1.80%
FuelCell Energy, Inc. (FCEL) 5,844,014 6,821,520 -14.33%
GT Solar International (SOLR) 2,588,190 2,585,455 +0.11%
Hoku Scientific, Inc. (HOKU) 1,912,737 2,012,192 -4.94%
JA Solar Holdings, Co. (JASO) 14,182,231 15,976,615 -11.23%
Solarfun Power Holdings Co. (SFUN) 3,027,631 3,948,622 -23.32%
SunPower Corp. (A) (SPWRA) 9,418,472 9,619,152 -2.09%
SunPower Corp. (B) (SPWRB) 2,521,597 2,618,116 -3.69%
Jon C. Ogg
January 13, 2009
Crypt Alert: T. Boone Pickens & $100 Oil, Maybe, Again (CLNE)
T. Boone Pickens may still have some relevance in the media and in oil circles. And he may not. The oil magnate made a call late yesterday that oil could be back at $100.00 per barrel by the end of 2010. It seems that all these supply cuts are being noticed by him (and others) and this recent pop from the Middle East tensions gave another chance to kiss the kiss the pig at the town fair.
Short Seller Surprise, Alternative Energy Mixed Bag (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, HOKU, JASO, SFUN, SPWRA, SPWRB)
With oil tanking, many alternative energy stocks and solar stocks have been paying for it. They were the leveraged winners when oil was running up and now they are paying the price on the way down. You will see some major increases in the short selling in some of the key stocks, but it is amazing just how mixed the bets are with some seeing real drops in the short interest. Maybe the notion is out that with suddenly super-low P/E ratios and with many off 75% or more that the worst is behind:
Stock (Ticker) NOV. 28 NOV. 14 CHANGE
Canadian Solar Inc. (CSIQ) 2,427,370 3,368,857 -27.95%
Capstone Turbine Corp. (CPST) 17,560,127 18,493,021 -5.04%
Clean Energy Fuels Corp. (CLNE) 3,410,178 3,278,222 +4.03%
Energy Conversion Devices (ENER) 12,318,601 11,092,675 +11.05%
Evergreen Solar, Inc. (ESLR) 24,902,180 25,732,337 -3.23%
First Solar, Inc. (FSLR) 9,307,012 7,074,475 +31.56%
FuelCell Energy, Inc. (FCEL) 9,091,358 9,447,180 -3.77%
GT Solar International (SOLR) 2,614,025 2,092,142 +24.94%
Hoku Scientific, Inc. (HOKU) 2,040,200 2,442,894 -16.48%
JA Solar Holdings, Co. (JASO) 18,283,207 16,661,472 +9.73%
Solarfun Power Holdings Co. (SFUN) 5,003,987 5,249,784 -4.68%
SunPower Corp. (A) (SPWRA) 11,114,809 12,210,305 -8.97%
SunPower Corp. (B) (SPWRB) 3,230,046 1,990,460 +62.28%
Jon C. Ogg
December 10, 2008
Clean Energy & T. Boone Pickens Ride the Roller Coaster (CLNE)
Energy stocks rose along with the market in its 500+ point rally yesterday, and Clean Energy Fuels (NASDAQ: CLNE) did its part. It actually had a massive beta yesterday as its shares soared nearly 25% to close at $5.65. Then Clean Energy reported third quarter numbers, and moved up another nickel after hours, and look up about 7% pre-market.
Clean Energy Tries to Sell Non-Performance (CLNE)
Clean Energy Fuels (NASDAQ:CLNE), T. Boone Pickens’s public alternative energy company for converting natural gas to auto fuel, reported preliminary third quarter results after the market closed yesterday. There was no good news. Analysts were estimating EPS of -$0.15, and Clean Energy reported a loss in the range of -$0.23 to -$0.26 per share, about eight times worse than the same period a year ago. Revenues will also miss estimates of $37.71 million.
The 52-Week Low Club (VSE)(WSM)(PPC)(MCK)(VPRT)(CLNE)
Verasun Energy (VSE) Rumor that ethanol company may go Chapter 11. Drops to $.40 from 52-week high of $17.75.
Williams-Sonoma (WSM) Who can afford to decorate a home? Earnings fall. Sells off to $7.26 from 52-week high of $31.88.
Pilgrim’s Pride (PPC) Lenders extend debt, but market is still nervous. Down to $1.10 from 52-week high of $30.15.
McKesson (MCK) Weak guidance. Slips to $35.50 from 52-week high of $68.43.
Vistaprint (VPRT) Bad forecast and downgrades. Daily double. Plunges to $16 from 52-week high of $48.60.
Clean Energy Fuels (CLNE) Plan to raise money hurts shares. Falls to $6.62 from 52-week high of $19.95.
Douglas A. McIntyre
Short Sellers Losing Conviction in Alternative Energy (CSIQ, CPST, CLNE, ESLR, FSLR, FTEK, FCEL, HOKU, LDK, SPWR, STP)
Many traders and short sellers have loved targeting solar power and other alternative energy stocks. Interestingly, bets against these companies have not risen dramatically even though many of them are under pressure from falling energy and commodities prices. As you will see below, there was only one company with a significant rise in short interest.
Short Seller Changes in Alternative Energy (CSIQ, CPST, CLNE, ESLR, FSLR, FTEK, FCEL, HOKU, LDK, SPWR)
Many traders and short sellers have loved targeting solar power and other alternative energy stocks. What is interesting is that the bets against these companies did not show a larger increase since many of them have been under pressure from falling energy and commodities prices..
Alternative Energy Aug 29 Aug 15 Change
Canadian Solar Inc. (CSIQ) 4,792,383 4,105,862 16.72%
Capstone Turbine Corp. (CPST) 26,868,541 27,148,261 -1.03%
Clean Energy Fuels Corp. (CLNE) 3,157,778 3,370,936 -6.32%
Evergreen Solar, Inc. (ESLR) 29,577,222 28,600,712 3.41%
First Solar, Inc. (FSLR) 4,118,065 3,932,851 4.71%
Fuel Tech, Inc. (FTEK) 8,967,558 9,409,720 -4.70%
FuelCell Energy (FCEL) 13,231,020 13,547,382 -2.34%
Hoku Scientific (HOKU) 3,408,545 3,264,070 4.43%
LDK Solar Co. Inc. (LDK) 12,810,785 14,263,002 -10.18%
SunPower Corporation (SPWR) 18,696,656 18,939,191 -1.28%
Jon C. Ogg
September 11, 2008
T. Boone Pickens Expects High Oil To Stay (CLNE)
CNBC’s Maria Bartoromo interviewed oil magnate and billionaire T. Boone Pickens late this afternoon. Pickens noted that there is likely to be a demand increase if oil goes under $100, bue he doesn’t expect it to go too far under that level. Four dollar per gallon gas killed demand before. As far as an energy policy, there has been no energy plan for 40 years and cheap oil discouraged the country from ever developing one. Without a plan we’ll end up importing more oil.
Top Pre-Market Analyst Downgrades (AFFX, CLNE, MER, NTRS, SPLS, TU)
These are some of the top downgrades or cautious calls we are seeing from analysts this Friday morning:
- Affymetrix (AFFX) Started as Underweight at Morgan Stanley.
- Clean Energy (CLNE) Cut to Underperform at National Bank.
- Merrill Lynch (MER) Cut to Sell at Goldman Sachs.
- Northern Trust (NTRS) Cut to Sell at Sandler O’Neill.
- Staples (SPLS) Started as Underperform at FBR.
- Telus Corp. (TU) Cut to Neutral at UBS.
Jon C. Ogg
September 5, 2008
Cramer Chases Pelosi & Pickens in Clean Energy (CLNE)
On tonight’s MAD MONEY on CNBC, Jim Cramer said that a stock you can buy that didn’t even have to buy off politicians to do well is Clean Energy Fuels Corp. (NASDAQ: CLNE). This turns out that it was a rather large holding of Speaker Nancy Pelosi and her husband that was disclosed last week in the amount of $50,000 to $100,000 for their own investments back in 2007.
Top Pre-Market Analyst Downgrades (AEP, CLNE, HTZ, IHG, QLGC, SPWR, SYMM, VAR)
These are not all of the analyst downgrades or negative calls, but these are some of the calls we are seeing with a possible impact on shares early Monday morning:
- American Electric Power (AEP) Cut to Neutral at JPMorgan.
- Clean Energy Fuels (CLNE) Cut to Buy from Strong buy at Broadpoint.
- Hertz Global (HTZ) Cut to Neutral at JPMorgan.
- Intercontinental Hotels Group (IHG) Cut to Neutral at UBS.
- QLogic (QLGC) Cut to Hold at Citigroup.
- SunPower (SPWR) Cut to Neutral at UBS.
- Symmetricom (SYMM) Cut to Market Perform at Morgan Keegan.
- Varian Medical (VAR) Cut to Hold at Citigroup.
Jon C. Ogg
August 11, 2008
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