Market Overview

Solar Stocks En Fuego As Market Rally Cools

Solar Stocks En Fuego As Market Rally Cools

Is it time to make hay while the sun shines? Solar stocks were on a roll on Friday even as the Fed-inspired rally peters out. The Nasdaq-listed solar stocks seem to defy the broader market trend and are up on fairly robust volumes.

  • First Solar, Inc.(NASDAQ: FSLR) – Up 4.6 percent at $37.06
  • SunPower Corporation(NASDAQ: SPWR) – Up 3.2 percent at $8.52
  • JinkoSolar Holding Co., Ltd (NYSE: JKS) – Up 0.07 percent at $15.18
  • Canadian Solar Inc.(NASDAQ: CSIQ) - Up 3.18 percent at $12.96
  • However, 8Point3 Energy Partners LP (NASDAQ: CAFD) was down 3.42 percent at $14.69.

8Point3 Energy, a limited partnership formed by First Solar and SunPower, reported last Tuesday Q3 revenues and adjusted EBITDA that exceeded the consensus. Earnings per share, however, trailed estimates. The company raised its 2016 guidance, citing Q3 outperformance and operating performance of its projected portfolio.

Some of the negativity can be traced backed to its announcement concerning the pricing of an underwritten public offering it announced after Thrusday's close. The company said it priced the offering of 7 million class A shares at $14.65 per Class A share. The fund raising to finance its proposed acquisition of a 49 percent interest in the Henrietta Project.

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