*from www.buzz.money.cnn.com, May 13, 2013 (To view original article click here.)
Take Away #1: Investors can’t seem to get enough of companies that harness the sun’s power, as shares of SolarCity (SCTY) soared to an all-time high of $31.89 on Monday.
Key Facts and Figures:
- The company has only been public for five months and shares have nearly quadrupled.
- SolarCity had an $8 IPO price back in December of 2012.
Take Away #2: Elon Musk seems to have the midas touch, as both Tesla and SolarCity have been on a tear.
Key Facts and Figures:
- While SolarCity, which installs solar panels, is among the smaller players, it does have Elon Musk, most associated with electric carmaker Tesla, as its Chairman.
- Both SolarCity and Tesla have enjoyed triple digit increases in share price since the beginning of the year.
Take Away #3: SolarCity will issue its second quarterly report as a public company after the market closes Monday.
Key Facts and Figures:
- Solar companies have struggled in recent years in the face of rising competition from cheaper solar panels manufactured in China.
- Analysts expect SolarCity to report a loss of 25 cents a share on $29 million of revenue.
- Investors are already looking beyond the quarter to see what SolarCity, and other solar firms, plan to do next.
- Most recently, SolarCity completed two projects in Sacramento and announced plans to install solar panels on up to 6,500 homes in Marine and Navy bases in Hawaii.
Take Away #4: Shares of other solar firms were energized by SolarCity Monday.
Key Facts and Figures:
- Shares of First Solar (FSLR), SunPower Corp. (SPWR), LDK Solar (LDK) and ReneSola (SOL) were on the rise.
*To view original article from www.buzz.money.cnn.com click here.