From T. Boone Pickens to President Obama, wind energy is getting a lot of love these days. So, it's not surprising that Jim Cramer offered up his thoughts on Friday's "Mad Money."
Cramer said that American technology is dominating the alternative energy space. According to the American Wind Energy Association, the United States has the ability to produce 10,777 billion kilowatt hours worth of annual energy using wind power. That's two times the amount of electricity generated today. House legislation winding its way through Congress will only solidify the trend toward more renewable outputs.
During last Friday's Lightning Round, Cramer gave a lukewarm thumbs up to
Broadwind Energy, an Illinois-based wind turbine manufacturer, recently reported a first-quarter net loss of $7.2 million, or 7 cents a share, down from $3.4 million, or 4 cents, from the year-ago period. Its gross margins dropped to $4.7 million from $8 million. Still, its revenues soared 51% from the same quarter last year. Sales went from $35.2 million to $53.1 million. After excluding certain items, the company said it was able to eek out a tiny $381,000 profit.
Last week, Broadwind Energy was trading above $9.80 a share, but fell late. Many of the solar shares were moving in pre-market action this morning. After the opening bell, Broadwind Energy was changing hands at $9.55, which is a near 6% increase from Friday's close.
Cramer gave an even more enthusiastic thumbs up to another renewables firm.
, which was already up 1% in the first few minutes of trading this morning, announced a new long-term customer agreement on Friday. Though financial information wasn't released in the announcement, First Solar, which creates photovoltaic modules, agreed to supply PVs to German-based Pfalzsolar.
"This agreement reinforces First Solar's relationships with utility-owned project developers and demonstrates that local utilities increasingly see photovoltaic power as a necessary component of their future electricity-generation portfolio," First Solar managing director Stephen Hansen said in a release.
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