The Sun Rises Again on Solar Stocks (NASDAQ: SPWR) (OTC US: GSFI) (NASDAQ: FSLR)
February 02, 2021 at 09:03 AM EST
The resounding victory by the democrats in this election cycle is poised to change the game for the renewable energy industry, with analysts anticipating more than twice as much government money invested in the space as we saw go into the space race five decades ago (in real dollars).
That has the industry and its investors charged up with fresh sunshine. So, don’t fight the wind and tide. The false tension between investor value and environmental sustainability may finally be in the past.
With that in mind, we take a look at a few of the more interesting names in the solar energy space today, including: SunPower Corporation (NASDAQ: SPWR), Green Stream Holdings Inc. (OTC US: GSFI), and First Solar Inc. (NASDAQ :FSLR).
SunPower Corporation (NASDAQ: SPWR) bills itself as a company that researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant.
The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors. It also offers commercial rooftop and ground-mounted solar power systems, and residential mounting systems, as well as utility-scale photovoltaic power plants. In addition, the company provides post-installation operations and maintenance services.
SunPower Corporation (NASDAQ: SPWR) recently announced the election of Suzanne Leta, head of policy and strategy, to the executive committee of the Solar Energy Industries Association (SEIA) Board of Directors.
“Without question, 2021 is shaping up to be another exciting year for solar and energy storage,” said Abigail Ross Hopper, President and CEO of SEIA. “Suzanne’s expertise, energy and dedication will be an instrumental part of our ability to meet SEIA’s goals in the Solar+ Decade. SEIA has already benefited from Suzanne’s involvement over the years, and together we will advance aggressive clean energy goals and invest in modern infrastructure and a diverse workforce.”
Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week.
SunPower Corporation (NASDAQ: SPWR) pulled in sales of $274.8M in its last reported quarterly financials, representing top line growth of -42.3%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($341.3M against $754.3M, respectively).
Green Stream Holdings Inc. (OTC US: GSFI) sees “a new era for Renewable Energy and its Solar Utilities/Financing model as stocks rise in advance of the inauguration of Joe Biden as the 46th President of the United States,” according to its most recent release.
The Company’s next-generation solar greenhouses constructed and managed by Green Rain Solar, LLC, a Nevada-based division, utilize proprietary greenhouse technology and trademarked design developed by world-renowned architect Mr. Antony Morali. The Company is currently targeting high-growth solar market segments for its advanced solar greenhouse and advanced solar battery products.
Green Stream Holdings Inc. (OTC US: GSFI) most recently announced the appointment of Mr. James C. DiPrima as the new corporate Chief Executive Officer. Mr. James C. DiPrima has a Bachelor of Science in Business Administration from Creighton University, Omaha, Nebraska. His career includes 40 years of finance and accounting in both the public and private sectors beginning his career at Deloitte & Touche.
“I am eager to expand the already existing opportunities that Green Stream’s innovative solutions will provide to commercial solar energy markets on the East Coast. There is unlimited potential in this segment of the renewable energy space,” commented James C. DePrima, CEO.
Shares of GSFI have been on fire of late, ripping over 200% higher since late December, breaking above the 200-day MA. The move has taken it to new six month highs on rising volume as interest picks up in the solar space.
Green Stream Holdings Inc. (OTC US: GSFI) has yet to begin booking revenues, but the company has put in place a fertile pathway to potential strong results in the future given its positioning and range of projects in one of the most promising market spaces for investors over coming years.
First Solar Inc. (NASDAQ: FSLR) frames itself as a supplier of PV solar modules. In fact, it identifies itself as the world’s largest thin-film PV solar module manufacturer and one of the world’s largest PV solar module manufacturers.
The company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation. First Solar’s thin-film technology is cheaper to make and generates more solar electricity than a number of its competitors.
First Solar Inc. (NASDAQ: FSLR) recently announced that it has entered into a Purchase and Sale Agreement with Leeward Renewable Energy Development, LLC pursuant to which Leeward will acquire from First Solar a utility-scale solar project platform of approximately 10 gigawatts (GW)AC. The transaction is expected to close in the first quarter of 2021, after obtaining regulatory approvals and satisfying customary closing conditions.
According to the release, Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans. Upon closing of the transaction, Leeward will acquire the US project platform, which includes the Rabbitbrush, Madison, Oak Trail, Horizon, and Ridgely projects that are expected to commence construction in the next two years, as well as the 30 MWAC Barilla Solar project, which is operational. First Solar will retain 1.1 GWAC of projects in the US that are expected to be sold separately. Key members of the First Solar project development team are also expected to join Leeward upon closing.
The stock has suffered a bit of late, with shares of FSLR taking a hit in recent action, down about -6% over the past week.
First Solar Inc. (NASDAQ: FSLR) pulled in sales of $927.6M in its last reported quarterly financials, representing top line growth of 69.6%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($1.6B against $731.1M).
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