This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Solar Winners: First Solar, SunPower

NEW YORK ( TheStreet) -- Finally, a day during which U.S-based solar companies are outperforming their Chinese peers. It seems as if it's been a long time since the market shined on U.S. solar companies as it did today.

But was the run-up in First Solar (FSLR - Get Report) and SunPower (SPWRA) justifiable? Maybe about as justifiable as the big run-up in Chinese stocks in the current quarter -- which means that question deserves a big question mark.

And an answer to these questions won't be provided by solar analysts, who are far from in one camp, or even anywhere close to one camp, when it comes to these companies and the way investors trade them day to day.

First Solar was up 5.2% at the market close on close to twice the average daily volume of shares traded -- 5.2 million shares traded today versus 2.8 million on average. SunPower was up more than 4.6% at the close of trading, though its volume was only slightly higher than its average -- 3.5 million versus 3 million.

SunPower is an obvious question mark, as buying the shares of a company currently accused of accounting fraud and facing 30 or so class-action lawsuits is something of a high-risk endeavor. Indeed, when Pacific Crest Securities recently raised its rating on the SunPower, it did so with a disclosure that investors should also buy antacid.

There is some belief on The Street that the 20% hit SunPower shares already took has made the company an opportunistic buy. That's the kind of logic, however, that makes Gordon Johnson, analyst at Hapoalim Securities, apoplectic. "Fifteen bucks would be my target. And how can you even invest in a company that's been accused of accounting fraud?"

Still, investors were doing just that today, driving SunPower up to $22.50 or a gain of $0.98.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
STP $0.53 0.00%
LDK $0.00 0.00%
FSLR $45.17 0.00%
TSL $11.53 0.00%
AAPL $126.44 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs