24/7 Wall St. » HOKU

Unusual After-Hours Stocks on the Move (NILE, EXPE, PNRA, HOKU, VITA)

Administrator — Thu, 10 Feb 2011 22:07:11 +0000

We are seeing yet another high number of shares on the move in the after-hours session this Thursday. Five top movers are Blue Nile Inc. (NASDAQ: NILE), Expedia Inc. (NASDAQ: EXPE), Hoku Corporation (NASDAQ: HOKU), Orthovita Inc. (NASDAQ: VITA), and Panera Bread Co. (NASDAQ: PNRA).

Blue Nile Inc. (NASDAQ: NILE) closed up over 5% today at $63.66. The online jewelry seller reported quarterly sales rose 11.5% to $114.8 million and earnings rose 17% to $0.41 EPS.

Expedia Inc. (NASDAQ: EXPE) closed up 1% at $25.69 but a smaller profit than expected and profit margins narrowing took a bite out of the company. Shares are down currently in the after-hours by 6.6% at $24.00 versus a 52-week range of $18.30 to $29.85.

Hoku Corporation (NASDAQ: HOKU) closed up 1.5% at $2.58 today against a 52-week range of $2.09 to $3.78, but the company gave an update to its expected capital costs for a new plant before production can begin. Shares are down 11.2% at $2.29 in the after-hours.

Orthovita Inc. (NASDAQ: VITA) was up 3% to $2.20 today but shares are really up higher in the after-hours. The company received FDA approval for its Vitoss ‘bimodal bone graft substitute.’ Shares are now up 17% at $2.58 in the after hours against a 52-week trading range of $1.60 to $4.68. For the coming quarter, sales are expected to be $76 to $78.5 million and earnings are expected to be $0.14 to $0.16 EPS. Thomson Reuters had estimates ahead at $0.20 EPS on $79.69 million in revenues. Shares are trading down 12% at $55.99 in the after-hours against a 52-week range of $40.70 to $64.45.

Panera Bread Co. (NASDAQ: PNRA) rose over 1% to $99.71 today and shares are breaking above the $100 mark after reports that Fiscal-2010′s $3.62 EPS was up 30% on 7.9% growth in system-wide comparable net bakery-cafe sales. Shares are up 9% at $108.75 versus a prior 52-week trading range of $70.86 to $106.87.

JON C. OGG

Filed under: After-Hours Activity, Trading Alert Tagged: EXPE, HOKU, NILE, PNRA, VITA

Oil Drop’s Real Losers: Alternative Energy Stocks (TAN, PBW, LDK, ESLR, JASO, CSIQ, AKNS, HOKU, ZOLT, FCEL, CPST, AMSC)

Administrator — Thu, 20 May 2010 18:02:09 +0000

Oil has fallen off the proverbial cliff into the roll date and as the concerns that the eurozone’s weakness is going to spread enough to really hurt the recovery of the global oil demand. And then there is the de-risk trade taking place where traders and investors are taking money out of riskier assets. The true losers in this move are alternative energy stocks, and that is double the case if you are of the same mind that alternative energy stocks may represent nothing more than leveraged bets on the price of oil and fossil fuels.

Claymore/MAC Global Solar Energy (NYSE: TAN) at $6.38 is down 4.35%, and the PowerShares WilderHill Clean Energy (NYSE: PBW) is down 4.56% at $8.44. Many of the component companies in these ETFs and some of the other alternative energy stocks we follow in our own universe of stocks in the sector are down well over 5%. We wanted to take a look at ten of the biggest losers in our alternative energy universe:

LDK Solar Co. Inc. (NYSE: LDK) is down 5.10% at $5.58.

Evergreen Solar, Inc. (NASDAQ: ESLR) is down 5.66% at $0.91.

JA Solar Holdings, Co., Ltd. is down 5.5% at $4.84.

Canadian Solar Inc. (NASDAQ: CSIQ) is down 3.67% at $11.56.

Akeena Solar, Inc. (NASDAQ: AKNS) is down 8.25% at $0.89.

Hoku Corporation (NASDAQ: HOKU) is down 5.41% at $2.80.

Zoltek Companies, Inc. (NASDAQ: ZOLT) is down 7.8% at $9.68.

FuelCell Energy, Inc. (NASDAQ: FCEL) is down 9.87% at $2.10.

Capstone Turbine Corporation (NASDAQ: CPST) is down 10.3% at $1.04.

American Superconductor Corporation (NASDAQ: AMSC) is giving back some as well with shares down a surprising 6.8% at $28.78.

This is not always the case, but generally the riskier the alternative energy company the more the company has to lose in general with fossil fuels getting cheaper and cheaper. The more solid players tend to have more and more orders in place where at least the existing orders already on the books are deemed less at-risk.

The odd thing is that some of these moves are on somewhat weak volume, so some is just a buyer’s strike while each is trying to find equilibrium (if that really exists). Still, throw in European woes (large alternative energy clients) and a growing sense that there is a higher chance that the contagion will make economic recovery much less than expected and you have a ballgame.

JON C. OGG

Filed under: Alternative Energy, Commodities, Oil & Gas, Trading Alert Tagged: AKNS, AMSC, CPST, CSIQ, ESLR, FCEL, HOKU, JASO, LDK, PBW, TAN, ZOLT

Major Market Movers (9/30/2009) (JNJ)(CIT)(HOKU)

247wallst — Wed, 30 Sep 2009 12:16:37 +0000

Volume Spike Investor is watching some stocks which should move at the open.

These include Johnson & Johnson (JNJ) (details), CIT (CIT) (details), Hoku Scientific (HOKU) (details), China-Biotics (CHBT), and and TerreStar Networks (TSTR) (details).

Douglas A. McIntyre

Posted in Pre-Market Activity Tagged: BSX, CHBT, CIT, HOKU, JNJ, T, TSTR

Solar Dilemma: How Much Could Hoku Fetch In Sale? (HOKU)

247wallst — Mon, 13 Jul 2009 16:24:01 +0000

Hoku Scientific, Inc. (NASDAQ:HOKU – News) has been looking for additional finding for its wholly-owned unit Hoku Materials, Inc. This was established to manufacture and sell polysilicon for the solar market. The company said late Friday that it is in discussions with several strategic and financial investors regarding debt and equity financing, but it expects it will need a few months to work through its options. More importantly, the company has hired Deutsche Bank Securities as its financial advisor to seek a possible sale of the company.

Hoku Materials will preserve cash by issuing orders for a temporary slowdown of construction at the polysilicon production facility under development in Pocatello, Idaho. The company had already announced a strategic delay in constructing the TCS portion of the plant. The delay will now extend the slowdown to temporarily include the other areas as well.

The company has tried to stay optimistic. Its press release noted, “…we remain absolutely confident that this plant will be completed and that we can meet our customer commitments. To that end, we have no plans to lay off any of our staff, including the first group of plant operators that we hired in Pocatello in June.”

Hoku has not been immune to the credit crunch, the economy, polysilicon and PV price pressure, and a global decline in investment capital. The company also claims no senior bank debt on the project, offering the flexibility in structuring plant financing.

Lastly, the company noted that its Hawaii-based subsidiary focused on turnkey integration of photovoltaic power systems is not impacted by the Hoku Materials news. Both are wholly owned subsidiaries of Hoku Scientific, but each operates completely independently of the other and Hoku wants to continue expanding Hoku Solar’s PV installation business and continue to actively install systems in Hawaii.

While slowing expansion at a plant sounds bad, this will actually allow the company to slow down its cash burn rates as well. Because of old financings and new amendments, we are not comfortable making formal quarter-end cash balances. But that figure was listed as $17.383 million at the end of the March quarter. It has committed contracts for future production, but the end of quarter long-term debt was just over $173.5 million. The forecast ramp for revenues was not until 2011 and the company has a going concern issue after its last earnings report.

After a 15% drop to $1.93 in the stock today, its total market cap is listed as just under $41 million. At one point we thought that the production facilities for making PV and polysilicon might be attractive takeover targets. But since prices and demand have plummeted, that notion is one that seems to be academic debate rather than inevitable.

If solar demand picks back up and if contracts outside of what Hoku’s cadre includes start to firm up, then there is a chance that the facility’s value would be worth closer to what is listed on the balance sheet. But that $204.5 million value for property, plant, and equipment doesn’t sound as though it would fetch that much on the open market if you consider the economic environment today. Anything is possible. But the endgame here on what Hoku could fetch on the open market is highly subjective. We can see a scenario where there is value that is multiples over the value today, and we can see a scenario that would cause the ultimate values to be far lower.

Jon C. Ogg
July 13, 2009

Posted in Alternative Energy, Green Biz, Mergers and Buy Outs Tagged: HOKU

Solarfun Renegotiates Hoku Payments (SOLF, HOKU)

247wallst — Tue, 31 Mar 2009 15:47:55 +0000

A US-based subsidiary of Hoku Scientific, Inc. (NASDAQ:HOKU) and a Hong Kong-based subsidiary of Solarfun Power Holdings Co., Ltd. (NASDAQ:SOLF) have renegotiated a polysilicon supply contract between Hoku and Solarfun. The renegotiation affects only the timing of payments and deliveries, not the price, volume or other material items in the agreement.

Under the new deal, Solarfun will avoid an $18 million payment to Hoku due today and an additional $5 million due on March 31, 2010. Instead, Solarfun will pay the $18 million in installments: $5 million today, $8 million in July, $1 million in August, $1 million in September, and $3 million in October. The $5 million payment due next March has been brought forward to January 2010.

In exchange for the restructured payments, Solarfun agreed to extend the shipping date for polysilicon from September 2009 to March 2010. Hoku gains the goodwill of the Chinese government, at no cost and little risk. A little something for everybody.

Both Solarfun and Hoku shares are up marginally this morning on thin trading volume.

Paul Ausick
March 31, 2009

Posted in Alternative Energy, Green Biz Tagged: HOKU, SOLF

Alternative Energy Short Selling Decreases (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, HOKU, JASO, SFUN, SPWRA, SPWRB)

247wallst — Tue, 13 Jan 2009 14:20:47 +0000

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

Posted in Alternative Energy, Short Interest Tagged: CLNE, CPST, CSIQ, ENER, ESLR, FCEL, FSLR, HOKU, JASO, SFUN, SOLR, SPWRA, SPWRB

Short Seller Surprise, Alternative Energy Mixed Bag (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, HOKU, JASO, SFUN, SPWRA, SPWRB)

247wallst — Wed, 10 Dec 2008 10:35:03 +0000

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

Posted in Alternative Energy, Short Interest Tagged: CLNE, CPST, CSIQ, ENER, ESLR, FCEL, FSLR, HOKU, JASO, SFUN, SOLR, SPWRA, SPWRB

Short Sellers Losing Conviction in Alternative Energy (CSIQ, CPST, CLNE, ESLR, FSLR, FTEK, FCEL, HOKU, LDK, SPWR, STP)

247wallst — Thu, 25 Sep 2008 08:07:30 +0000

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.

Alternative Energy                         SEPT 15    AUG 29    Change
Canadian Solar Inc. (CSIQ)          4,731,677 4,792,383 -1.27%
Capstone Turbine Corp. (CPST) 28,332,291 26,868,541    5.45%
Clean Energy Fuels Corp. (CLNE) 4,871,814 3,157,778    54.28%
Evergreen Solar, Inc. (ESLR)       30,308,874 29,577,222    2.47%
First Solar, Inc. (FSLR)                3,966,956 4,118,065 -3.67%
Fuel Tech, Inc. (FTEK)                9,302,674    8,967,558    3.74%
FuelCell Energy, Inc. (FCEL)    13,205,000 13,231,020 -0.20%
Hoku Scientific, Inc. (HOKU)       3,363,737 3,408,545 -1.31%
LDK Solar Co. Inc. (LDK)          11,752,249 12,810,785 -8.26%
SunPower Corporation (SPWR) 18,335,432 18,696,656 -1.93%
Suntech Power Holdings (STP) 12,782,938 12,693,121    0.71%

Jon C. Ogg
September 25, 2008

Posted in Alternative Energy, Short Interest Tagged: CLNE, CPST, CSIQ, ESLR, FCEL, FSLR, FTEK, HOKU, LDK, SPWR, STP

Top Pre-Market Analyst Upgrades (ACE, NLY, ESLR, GFIG, HOKU, ITG, GS, KR, MON, NDAQ, TRV)

247wallst — Wed, 17 Sep 2008 07:05:40 +0000

These are some of the positive calls and upgrades we have seen from analysts this morning:

ACE Ltd. (ACE) raised to buy at Goldman Sachs.
Annaly Capital (NLY) raised to overweight at JPMorgan.
Evergreen Solar (ESLR) raised to hold at Citigroup.
GFI Group (GFIG) raised to outperform at KBW.
Hoku Scientific (HOKU) raised to buy at Broadpoint.
Investment Technology Group (ITG) raised to outperform at KBW.
Goldman Sachs (GS) raised to outperform at Wachovia.
Kroger (KR) raised to buy at B of A.
Monsanto (MON) raised to buy at BB&T.
NASDAQ OMX (NDAQ) raised to outperform at KBW.
Travelers (TRV) raised to buy at Goldman Sachs.

Jon C. Ogg
September 17, 2008

Short Seller Changes in Alternative Energy (CSIQ, CPST, CLNE, ESLR, FSLR, FTEK, FCEL, HOKU, LDK, SPWR)

247wallst — Thu, 11 Sep 2008 14:11:40 +0000

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