Evergreen Solar (Nasdaq:ESLR) - Time to Buy?
Sep 12, 2008
Author: SCP Editor
September 12, 2008 – Evergreen Solar (Nasdaq:ESLR) has pulled back to $6.20 this morning from intraday highs of about $10.08 less than a month ago, so we thought we would look at it closer to determine whether we think the stock is oversold. As we have said in other recent commentary, solar stocks have been getting hit on concerns about caps in subsidies over in Spain, whether Congress is going to let the renewable credits expire here in the U.S. and about margin pressure next year due to commoditization in the industry. On the positive side, Evergreen really doesn’t have any significant exposure to Spain.
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