June 18, 2024
So, What’s the Set-Up for the World’s Leading Module-Level-Performance-Electronics (“MLPE”) Inverter Suppliers Enphase (ENPH; SELL) and SolarEdge (SEDG; SELL)? Last week, the solar world learned that Titan Solar, one of the largest residential rooftop solar…
June 14, 2024
This (i.e., Modeling Daqo’s Fundamentals) Isn’t Hard Folks. This week, we decided to update our bottoms-up Daqo earnings-driver model, and, OH BOY, were we surprised. In brief, in what follows, we detail why we see…
June 6, 2024
Are Street Ests. Too High, and Are Service Centers Actively Trading Steel Stocks Amongst Themselves, Suggesting the “Great Restocking” That Many Steel Bulls Have Become Accustomed to is Not Coming Anytime Soon? The, somewhat complicated,…
June 3, 2024
Does the Intraday Surge in Sunpower’s Stock Today, Juxtaposed Against its 8-K Filing this Morning, Suggest Wall Street (and Specifically Sunpower Bulls) is in for a “Rude Awakening”? In the analysis below, we look to…
May 22, 2024
As Global Solar Distributors/Installers Shift Away from Higher-Cost Module-Level-Performance-Electronics (“MLPE”) Inverters, Opting Instead for Lower-Cost String Optionality, we See Outsized Risk to Enphase. In this initiation of coverage report, we detail the basis for our…
May 14, 2024
Which One of these Things (SPWR + GME + AMC) is Not Like the Other? When meme stocks squeeze, typically, owners of the stock hold firm onto the shares, causing fear among the “shorts“, sending…
April 22, 2024
Tesla Took a Slashing to the Price of its New Cars All Through this Past Weekend. In the analysis that follows, using estimates for the number of cars TSLA is expected to sell in each…
April 16, 2024
Tesla’s 1Q24E Revs/non-GAAP EPS Appear Set to Miss Wall Street’s Estimate… by a “Nautical Mile”; But What About 2Q24E? After spending the better part of this past weekend updating our bottom-up TSLA revenue driver model…
March 28, 2024
Is Cleveland Cliffs Really a BUY Here? With the S&P 500 up +10.0% year-to-date (“YTD”), vs. CLF being up +8.4% over the same timeframe (i.e., CLF has underperformed), not to mention the QQQs being up…
March 13, 2024
Higher Interest Rates are Making Canadian Solar’s Ability to Sell its Utility-Scale Solar Projects “Very Difficult”. As a reminder, we note: (1) in 2Q23, CSIQ saw its Recurrent Energy segment deliver $360mn in revenues at…
March 7, 2024
So… is Jinko Solar Still a Good Short, or Has that Train Left the Station? In the analysis that follows, we update our views on global solar wafer/cell/module bellwether Jinko Solar, to include: (a) our…
February 29, 2024
The Cost of Sunrun’s Recent $475mn Convertible Bond Issue May Surprise You (link). As a reminder to those who don’t have a doctorate in “bond math”, when an investor buys a convertible bond they are…
February 7, 2024
Solar Stocks are Roaring Higher Today, Despite Enphase’s 4Q24 Revs. Missing a Q4 Street Est. that Had Been Cut -51.9% Over the Past 6 Months (yes, you heard that right); Does this Make (Any) Sense?…
February 6, 2024
Looking Past Last Year’s Delayed Recession, the Real Thing Appears Set to Take Hold in 2024. While steel industry CEO’s have maintained a positive bias thru 4Q23 earnings reporting season, contrary to the belief of…
February 1, 2024
We Have Constructed a Model Based on a 7.5kW and 3.5kW Residential Rooftop Solar Home System Financed via a Loan in Greenwich, CT, Using NREL’s PVWatts Calculator; Our Findings were Rather Surprising Given the US…