Wednesday, October 13, 2010

Bizzare Rally in Small-cap Solar Stocks

There has been a massive rally this week in small-cap solar stocks (chart). It seems to be associated with the Solar Power International conference which is going on in Los Angeles right now.

dollars in millions




Name Ticker Market Cap EV EBITDA EV/EBITDA
DayStar Technologies DSTI 10 11.6 -17 -1
Ascent Solar ASTI 151 89 -23 -4
Evergreen Solar ESLR 193 456 25 18
Hoku HOKU 162 191 -7.6 -25
Spire SPIR 53 42 -7 -6
Emcore EMKR 89 72 -25 -3
CVD Equipment CVV 39 33 1 33

Sadly, none of these companies are very profitable. This rally seems to be a case of daytraders chasing momentum.

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