Evergreen Solar Shares Can't Get Above $2 Again

As theStockMasters.com pointed out yesterday, Evergreen Solar (NASDAQ:ESLR) shares are having a hard time getting back to $2 a share and the downward trend continues today.  Evergreen shares are down another 5% and hit $1.69 this morning before making it back above $1.70.

Evergreen Solar, Inc. (NASDAQ:ESLR) shares have crept below $2 again and have not recovered since delivering that wider-than-expected loss in Q2 09 reported last month.  In the last 30 days ESLR shares have lost 22% and with short interest holding steady at 15%, its going to be tough for shareholders to get back their two dollars.  I want my $2, you're saying, well, get in line.

As much as investors would like to just buy and hold stocks like Evergreen Solar, we are forced to play with day traders and Wall Street's analysts.  Evergreen got a blow back on July 31st when Caris & Company downgraded Evergreen to 'Average' from 'Above Average' and set a target price at $2 following earnings. Ah there we go again with that two dollars Johnny Gasparini.

Caris & Company said Evergreen Solar (ESLR) missed their estimates for 2Q on weak demand and much higher pricing erosion. In the near term, they do not think ESLR can overcome the severe pricing erosion in the industry. They had expected more elasticity for demand but there does not appear to be enough product differentiation to promote demand elasticity. 

Keep Reading - Click Here>> 

SOURCE: http://www.thestockmasters.com/evergreen-solar-eslr-08242009.html