Solar Power Gets a Boost

It’s been a pretty topsy-turvy ride for Energy Conversion Devices, Inc. (ENER) this week. While the stock lost 18.5% of its value on Tuesday after one of its major clients lowered its 2H08 guidance, ENER almost made up for the losses on Wednesday with a surge of 13% to close at $63.79. Today, ENER seems to have lost steam and is up only 0.65%, trading at $64.20.

First Solar (FSLR - Analyst Report), too, is fairly flat with a gain of 0.22%. However, other some of the gainers of the previous day, like ReneSola (SOL - Analyst Report) and Trina Solar Ltd. (TSL - Snapshot Report) continue their march with gains of 3.03% and 2.52% respectively. Wednesday’s other hot stock China Sunergy Co., Ltd. (CSUN - Snapshot Report) is up 0.91%, but is trading close to its 200-Day Moving Average.

The Wednesday boost came on the U.S. Senate’s decision to extend $18 billion worth of solar tax incentives to producers and consumers of solar energy for eight years -- a news item that got buried in the hurly burly of the negotiations of the $700-billion finance industry bailout package.

Read the full analyst report on CSUN

Read the full analyst report on ENER

Read the full analyst report on SOL

Read the full analyst report on TSL

Read the full analyst report on FSLR