Thursday, August 27, 2009

Energy Conversion Devices (NASDAQ:ENER): Bounce play?

Haven't seen any analyst comments yet, but got a feeling that Energy Conversion Devices (NASDAQ:ENER) is a bounce play at current $11.9 level of pre-mkt. Yes, the guidance for next quarter is fugly (F1Q10 in line with F4Q09 - 4Q was $51.4 mln vs $67.8 mln consensus), but more importantly, guidance for full FY10 looks quite decent. Seems to me that mgmt is seeing things getting better the in 2010 but keeps the expectations low for near-term not to dissapoint. With current issues widely known, one should look at what's to come when the dust settles.

I've started buying here at $11.90 and will add if the price drops.


  1. Taking half off the table here, don't like the weakness in FSLR.

  2. ENER sure looks glued to that $11.90 level. I would still expect it to break out to the upside, but it could take too much time for my taste. So closing the rest of the position at break-even.

  3. Comments from analysts are mainly negative with targets coming down and questions about achievability of the guidance. Also, Cowen is downgrading the stock this morning.
    Staying away from the situation for now.

  4. ENER is down significantly today on Nov. 9, 2009. Is it is good play? I know they had an earnings conference call, but they are down from 18 just several weeks ago, and 80 in 2008. They look like a buy.