Better prospects for Solar energy market – FSLR, SPWR, AEIS & C
Northern, WI 02/12/2013 (noesisstar) – Aside from the mainstream technology stocks Solar technology companies showed first signs of the improvement which market had anticipated last week. This comes after the 4th largest poly-silicon maker in the world, Wacker Chemie AG announced it would expand production to meet the rise in demand from alternate power producers in the Solar energy Niche.
The largest thin film solar plate manufacturer worldwide, First Solar Inc (NASDAQ:FSLR) rose 6.5% marking the highest climb (i.e. $1.96) in the solar energy market. In Wednesday’s trading session last week the company’s stocks outperformed other S&P500 stocks when the Citigroup Inc (NYSE:C) had upgraded its rating. The bank raised its price target to $41 giving a clean buy rating on the stock.
The stock hike is a relief for the shareholders who had refused the January 21 min tender offer of the TRC capital Corporation (TRC) to acquire 2.3% of the company’s common stock, about 2,000,000 common shares at $30 each. The rate offered was at a 5% discount from January 22, closing price. The company’s governance advised shareholders to maintain their holdings on January 25th .
Other gainers in the Niche were SunPower Corp (NYSE:SPRW) which rose by the highest proportions gaining 19.04% and Advanced Energy Industries Inc (NADAQ:AEIS) which gained 1.47% . Both the stocks were also upgraded, in the client note of the Citi group Inc (NYSE:C) released Wednesday.
The shares of First Solar Inc (NASDAQ:FSLR) were up by 6.45% to close at $32.36. The shares of SunPower Corporation Limited (NASDAQ:SPWR) were up by 19.04% to close at $9.44. The shares of Advanced Energy Industries Inc (NADAQ:AEIS) gained 1.47% to close at $16.61. The shares of Citigroup Inc (NYSE:C) were up 1.10% to close at $43.15.