October 31, 2024
Cash Incinerating “Science Project” Company Sunnova Exhibits What it Does Best… Burn a Heap Load of Free-Cash-Flow (“FCF”). Yesterday, after the close, cash-incinerating third-party solar EPC/financing science-project company NOVA reported 3Q24 rev/adj.-EPS/FCF of $235mn/-$0.98/-$559.0mn vs….
October 30, 2024
Price Tracker. Applying a modified approach, we detail PV pricing data by substrate, segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, all solar substrates in China were…
October 29, 2024
JinkoSolar Reports Q3 Earnings Before the Market Opens Tomorrow. Ahead of JKS’ 3Q24 earnings report this Wed., below, using intra-quarter movements in solar poly-Si, wafer, cell, and module prices (as well as the company’s Q3…
October 28, 2024
Sunrun Reports Earnings Next Week on Thursday. Ahead of RUN’s 3Q24E results next Thursday, in this note, we detail why we believe being short the stock (into earnings) carries with it quite a bit of…
October 24, 2024
Tesla Reports Strong Unaudited Q3 Numbers, and Guides to Record Q4 Delivery Growth vs. Tepid Delivery Data Thus Far. Yesterday, after the close, TSLA reported rev/adj.-EPS of $25.2bn/$0.72 vs. Cons. $25.4bn/$0.60 (GLJe $25.4bn/$0.49). Furthermore, TSLA…
October 23, 2024
Early This AM We Got the Age-Old Question Around Tesla From a Prominent Financial Reporter. Around 3:13am this morning, while GLJ was tending to 4.8-month old GLJ Jr. (for the 3rd time since going to…
October 22, 2024
Enphase is the Solar Darling of Both Wall Street (i.e., the Sell-Side) and the Hamptons “Elite” (i.e., the Buy-Side). When looking at the current distribution of Wall Street ratings for ENPH, we note 22 BUYS,…
October 17, 2024
We See a Significant Q3 Adj.-EPS Miss on Deck, as Well as Q3 Free Cash Flow of -$18mn vs. the Current Cons. Est. of +$1.635bn. Based on the analysis herein, we believe TSLA is slated…
October 8, 2024
SolarEdge Still Boasts 4 BUYS, 28 HOLDS, w/ just 5 SELLS (despite collapsing -78.2% YTD vs. +19.4% for the S&P 500 YTD), and an Avg. Forward 12-Month Price Target of $32.45 (i.e., +58.9% upside from…
October 2, 2024
Price Tracker. Applying a modified approach, we detail PV pricing data by substrate, segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China were not…
September 30, 2024
On Sep. 23rd, China’s National Energy Administration (“NEA”) Released Data on Chinese Solar Installs Through Aug. 2024. In what follows, we provide an update on the state of the world’s most important solar market, China….
September 26, 2024
Price Tracker. Applying a modified approach, we detail PV pricing data by substrate (Ex. 2-3), segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China…
September 24, 2024
Things Would Be Even Worse Without TSLA’s 1.99% 6yr APR Financing Offer in U.S./Canada. Based on the latest China data from early this morning (discussed below), updates from the 6 countries that report daily sales…
September 24, 2024
Things Would Be Even Worse Without TSLA’s 1.99% 6yr APR Financing Offer in U.S./Canada. Based on the latest China data from early this morning (discussed below), updates from the 6 countries that report daily sales…
September 20, 2024
So, Where Do We Stand on Fortescue and How Did its FY24 Results Impact our Outlook? Our SELL rating on FMG has been predicated on our negative 2024E-25E outlook for iron ore prices, as well…