HONOLULU ( TheStreet) -- Solar raw material provider Hoku Scientific ( HOKU) was down close to 2% in the pre-market session on Thursday morning after it said an amended agreement with Shanghai Alex New Energy would delay the first shipment of polysilicon to the third quarter of 2010, from the first quarter.

Trading in Hoku shares has proven extremely sensitive to any news, both positive and negative, like many thinly traded stocks in the solar sector. Still, the pre-market drop was quickly erased at the opening bell, and Hoku shares were flat by late morning Thursday.

When Solarfun Holdings ( SOLF) recently said it would stick to its scheduled payments to Hoku to fund its polysilicon plant construction, Hoku shares shot up by more than 20% in one day.

News of a delayed shipment to a Hoku client will not help to ease any ongoing concerns from the market about oversupply in the solar industry. However, Hoku is still in the process of building its poly plant in Idaho.

Hoku tried to strike a positive note in its announcement about the delayed shipment: "Hoku was prepared to ship third-party product in accordance with our contract, but the updated schedule more closely matches Alex's revised supply chain forecasts while still conforming nicely to our projected production ramp. This amendment adjusts the timing of our first delivery to Alex to a date that is amenable to both companies," said CEO Dustin Shindo.

In March, Hoku Materials entered into an deal with Chinese solar cell maker Alex to sell polysilicon over a 10-year period beginning early 2010.

-- Reported by Eric Rosenbaum in New York.

RELATED STORIES:



>>See our new stock quote page.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More from Stocks

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

At End of May, Investors Signalling They May Stay Away

At End of May, Investors Signalling They May Stay Away

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever