Fuel Systems, A-Power: Alt Energy Early Movers
NEW YORK (TheStreet) -- Fuel Systems Solutions (FSYS), the maker of natural gas vehicles, was down more than 5% on Friday morning in the pre-market after pricing a secondary offering of two million shares at $30. Fuel Systems Solutions closed on Thursday at $31.60.
Fuel Systems Solutions shares were already down 7% this week after it lowered its full year revenue guidance and said that a secondary offering would coming.
Fuel Systems shares dipped just below the $30 mark during the premarket session on Friday, shedding more than $1.70 from Thursday's $31.60 closing price.
A-Power Energy Generation Systems (FSYS), the Chinese wind and distributed power generation company from China which has seen its shares dive 73% this year, was gaining by 7% in Friday's pre-market after announcing a $32.5 million engineering, procurement and construction contract with Hainan Century Light Investment for a straw-based biomass power plant. While the Chinese alternative energy company was among the biggest gainers on the Nasdaq early, volume on Friday morning in A-Power shares was light, though, with less than 10,000 shares changing hands early.A-Power shares were downgraded by Oppenheimer & Co. this week from a buy to a neutral rating. Chinese solar company Jinko Solar (JKS) announced on Friday morning that it had increased its in-house solar cell and solar module production capacities to approximately 600 megawatts each, ahead of schedule. Jinko says it has secured solar module supply contracts, including downpayments, totaling 546 MW for 2011. Jinko shares were up more than 3% in the pre-market session on Friday, though as in the case of A-Power, volume was light.
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