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Evergreen Solar Back to $2 a Share

Submitted by Frank Lara Jr on Fri, 07/31/2009 - 12:43.
in
Evergreen Solar Inc.

Evergreen Solar (NASDAQ:ESLR) shares fell hard Friday down 13% and taking shares back to the low $2 range.  The company missed the Street on their Q2 Earnings call and a downgrade from Caris & Company didn't help the cause.

Evergreen just reported a quarter two 2009 EPS of 11 Cents which was 3 cents below the analyst estimate of 8 Cents.  However revenue for the company was $63.8 million, versus the consensus of $63.37 million.

Not terrible but enough to warrant a downgrade and the sellers are out in force today:

31-Jul-09 Downgrade Caris & Company Above Average → Average $2

 

Evergreen Solar (NASDAQ: ESLR) was dropped to Average from Above Average by Caris on financing and price erosion concerns.

Stay tuned on this stock, at the $2 level, some analyst may find some value.

nasdaq:eslr - Evergreen Solar 

Disclaimer: No positions in ESLR.

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