Last Weeks Green Stock Market All Stars $SPWRA $BIOF $GU

blocksup Last Weeks Green Stock Market All Stars $SPWRA $BIOF $GU

Stock market action September 20-24 saw two junior biofuelcompanies, two solar companies, a junior lithium mining explorer, and an alternative fuels company beat the strongly performing green ETFs andthe broad market indices.

Based on Friday’s closing prices, the best-performing greensector companies over the past five days (and over the past month) were:

  • BioFuel Energy Corp. (NASDAQ: BIOF) up 44.87 percent for the week (up 38.88 percent over the past month);
  • Gushan Environmental Energy Limited (NYSE: GU) up 40 percent (up 21.74 percent); 
  • SunPower Corporation (NASDAQ: SPWRA) up 15.88 per cent (up 36 percent); 
  • ReneSola Ltd. (NYSE: SOL) up 15.47 percent (up 45.47 percent);
  • Western Lithium USA Corporation (CDNX: WLC.V) up 15.12 percent (up 22.22 percent);
  • Westport Innovations Inc. (NASDAQ: WPRT) up 11.96 percent (up 11.63 percent); 

Broad indices

  • NASDAQ: 2.83 percent (11.19 percent) 
  • DJIA: 2.38 percent (7.95 percent)
  • S&P 500: last week 2.05 percent (one month: 8.84 percent)
  • FTSE 100: 1.63 percent, (9.57 percent) 

Green ETFs

  • PowerShares WilderHill Clean Energy (NYSE: PBW) 4.58 percent (13.61 percent)
  • Claymore/MAC Global Solar Index (NYSE: TAN) 3.92 percent (16.6 percent) 
  • PowerShares Global Clean Energy (NYSE: PBD) 3.32 percent (12.38 percent)
  • Market Vectors Global Alternative Energy (NYSE: GEX) 3.13 percent (8.36 percent)
  • First Trust NASDAQ Clean Edge Green (NASDAQ: QCLN) 2.76 percent (12.79 percent)
  • Claymore S&P Global Water Index (NYSE: CGW) 2.27 percent (8.82 percent)
  • First Trust Global Wind Energy (NYSE: FAN) 1.69 percent (7.67 percent)
  • NASDAQ OMX Clean Edge Global Wind Energy (NASDAQ: QWND) 0.6 percent  (5.78 percent) 

BioFuel Energy Corp., based in Denver, is an ethanol producer with two plants in Wood River,Nebraska, and Fairmont, Minnesota, each producing 115 million gallons ayear. 

BioFuel Energy has agreements with global agribusiness giantCargill, Inc. under which Cargill purchases 100 percent of the ethanoland distillers grain produced at the company’s plants and supplies 100percent of the corn feedstock for these plants. In addition, Cargillowns about five percent of Biofuel Energy.   

The primary value driver for the company’s share price lastweek was not its financial performance but an announcement that it wastaking short-term action to reduce long-term debt of $195.4 million andworking capital debt of $16.4 million. The working capital debt wascoming due at the end of this month. The company said it had enteredinto a six-month bridge loan agreement and a preferred share rightsoffering with Greenlight Capital, Inc. and Third Point LLC.

In its Q2 2010 (ending June 30, 2010) financial results, thecompany reported a net loss of $12 million on revenues of $96.4 million(compared with a net loss of $9 million on revenues of $106.5 million in Q2 2009 and a net loss of $8.2 million on revenues of $100.9 million in Q1 2010). The company said its costs have been reduced from quarter toquarter, but narrow spreads between the cost of corn and the price ofethanol continue to hit the bottom line.  

Biofuel Energy shares closed at $1.68, down 38 percentyear-to-date and a long way from its trading peak of $10.94 in ethanol’s glory days in the summer of 2007. 

Gushan Environmental Energy Limited, based in China, claims to be the largest biodiesel producer in Chinabut is experiencing dramatically falling sales volumes and revenues,while its production capacity and net losses are growing.  

The company’s share price last week was driven by theannouncement September 22, 2010 that it will diversify its“environmental businesses”  by acquiring a 67 percent interest in Mian Yang Jin Xin Copper Company Limited, a China-based copper recyling business.

In its Q2 2010 (ended June 30, 2010) financial results, Gushanreported a net loss of $15.99 million on revenues of $8.88 million,compared with a Q1 2010 net loss of $9.2 million on revenues of $10.65million. At June 30, the company had $73 million in cash, $5.7 millionless cash than at the end of Q1, and no long-term debt.  

Stock market action September 20-24 saw two junior biofuelcompanies, two solar companies, a junior lithium mining explorer, and an alternative fuels company beat the strongly performing green ETFs andthe broad market indices.

Based on Friday’s closing prices, the best-performing greensector companies over the past five days (and over the past month) were:

SunPower Corporation, based in San Jose, California, is a vertically integrated solarproducts and services company that designs, manufactures and marketshigh-performance solar electric power technologies. SunPower’s shareprice growth is driven by its global revenue growth projections that are based on solar cells the company says have the highest conversionefficiency in the industry. 

In its Q2 2010 (ending July 4, 2010) financial results, thecompany reported a net loss of $6.2 million on revenues of $384.2million, (compared with Q2 2009 net income of $14.3 million on revenuesof $ 299.3 million and Q1 2010 net income of $12.6 million on revenuesof $347.3 million). Cash at June 30, 2010 was $382.9 million, comparedwith $615.9 at the previous fiscal year-end January 3, 2010.  

The company is guiding dramatic sales growth: Q3 2010 revenuesof $450 million to $490 million and Q4 2010 revenues of $825 million to$1.02 billion.  

ReneSola Ltd., based in Sichuan, China, uses proprietary technologies, economies ofscale  and low-cost production capabilities, along with its in-housevirgin polysilicon supplies, to produce solar wafers and modules forglobal manufacturers of solar cells, modules and systems.  

In its Q2 2010 (ending June 30, 2010) financial results, thecompany reported net income of $36.1 million on revenues of $253.9million (compared with Q2 2009 net loss of $3.59 million on revenues of$82.63 million and Q1 2010 net income of $11.77 million on revenues of$206.55 million). Cash at June 30, 2010 was $171.2 million, comparedwith $106.8 million at year-end 2009.  

The company’s share price performance is driven by its growthin product shipments, revenues and earnings and its projected 50 percent increases in 2011 wafer and module production.

Western Lithium USA Corporation, based in Reno, Nevada, is a mining exploration company that isdeveloping the Kings Valley, Nevada, lithium deposit into potentiallyone of the world’s largest sources of quality lithium carbonate. Thecompany says it is positioning itself as a major U.S.-based supplier tosupport the rising global demand for lithium carbonate that is expectedfrom the increased use of hybrid/electric vehicles. 

The company reported cash of $17.6 million at June 30, 2010, sufficient to finance its current plans for at least 12 months.   

The company is continuing to define the resource at KingsValley with drilling and pilot studies during 2010 and will do a miningprefeasibility study in 2011 to confirm the economics of the project.Production is scheduled for 2014.

Westport Innovations Inc., based in Vancouver, B.C., has technology and products that enablelight, medium and heavy-duty diesel engines to run primarily oncompressed natural gas (CNG) or liquefied natural gas (LNG), givingusers an alternative fuel to diesel. 

In its Q1 2010 (ended June 30, 2010) financial results,Westport reported a net loss of $8.1 million on revenues of $25.5million (compared with a net loss of $7.9 million in Q1 2009 on revenues of $21.8 million and a net loss in Q4 2009 ended March 31, 2010 of$12.2 million on revenues of $35.7 million). Westport had cash at June30, 2010 of $98.3 million, compared with $104.2 million at March 31,2010.

The company’s share price is driven by government support in several jurisdictions for natural gas as a transportation fuel. 

Photo credit: Biofuel Energy Corp. 

DISCLOSURE: The writer has no positions in, or professional connections with, these companies.

Original Article on EnergyBoom