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  • JinkoSolar (JKS) Shares Gain Momentum In Pre-Market Trading

    JinkoSolar (JKS) Shares Gain Momentum In Pre-Market Trading

    Prior to the market opening today, JinkoSolar Holding Co., Ltd. (NYSE: JKS) shares are experiencing notable upward movement on the US charts. As of the last check during  pre-market session, JKS stock has risen by 4.59%, trading at $25.52. This surge is primarily driven by a significant certification milestone achieved by the company.

    Landmark Certification Achievement

    JinkoSolar (JKS) has said that their 2000-Volt EAGLE Modules are now the first in the world to hold both UL listing and UL classification. Collaboration with UL Solutions allowed for the achievement of this certification, highlighting the excellence and dependability of these innovative modules.

    The 2000-Volt EAGLE Modules are set for selective deployment in the U.S. during the third quarter of 2024, with broader market availability expected in 2025. These advanced modules offer increased string lengths for utility-scale projects, which in turn reduce overall system-level component costs and enhance end-to-end efficiency by minimizing energy loss.

    This advancement facilitates a more competitive levelized cost of energy, promising higher returns on investment for projects utilizing JinkoSolar’s technology. This development marks the most significant progress in high voltage solar certification since the introduction of 1500-Volt modules eight years ago.

    Given UL Solutions’ reputation for product safety and certification, JinkoSolar’s partnership with them for achieving this 2000-Volt milestone was a strategic decision. JinkoSolar’s strengths lie not only in advanced research and development but also in scaling these technologies cost-effectively for U.S. customers.

    Major Deployment In Germany

    In recent developments, JinkoSolar has successfully delivered its Tiger Neo modules to the Witznitz Solar Park in Lobstädt, Germany. This solar power plant boasts a total module capacity of 650 MW, with JinkoSolar having supplied over 1.1 million Tiger Neo modules.

    The project has attracted significant investment from German insurance group SIGNAL IDUNA, through its affiliate HANSAINVEST Real Assets GmbH, which has secured 605 MW. Furthermore, a 15-year Power Purchase Agreement (PPA) has been signed by Shell Energy Europe for the project.

    Built by MOVE ON Energy a year ago, the plant is now run by them and is anticipated to produce 0.6 terawatt hours of power yearly. The Witznitz Solar Park represents the largest photovoltaic project in Germany to date and stands as one of the largest in Europe.

  • The best-performing stocks in the Solar Sector last trading session

    The best-performing stocks in the Solar Sector last trading session

    During the third quarter of 2020, U.S. solar firms built 3.8 GW of new solar PV capacity. The industry struggled to recover from some of the worst effects of the Covid-19 pandemic in Q2, which saw installations rise by 9%.

    The Solar Energy Industries Association (SEIA) and Wood Mackenzie have released the “US Solar Market Insight Q4 2020” report, which indicates that solar will account for 43% of all additional capacity additions through Q3 2020, more than any other electricity source. In 2020, a record 19 GW of new solar capacity is projected, representing a 43% year-over-year increase from 2019.

    The residential solar sector, which seems to have been the hardest hit by the pandemic’s business effects, has surpassed recovery expectations, rising 14 percent over Q2. Even it stayed below the rate of Q1.

    Following are the best performing stocks in the Solar Sector in the last trading session.

    Array Technologies Inc. (NASDAQ:ARRY) shares were trading up 4.57% at $38.64 at the time of writing on Tuesday. On December 7, 2020, the company declared the closing of the secondary offering by a parent entity of the Company controlled by Oaktree Capital.

    Array Technologies Inc. (NASDAQ:ARRY) share price went from a low point around $29.05 to briefly over $50.99 in past 52 weeks, though shares have since pulled back to $38.64. ARRY market cap has remained high, hitting $4.86B at the time of writing, giving it price-to-sales ratio of more than 5.

    If we look at the recent analyst rating ARRY, JP Morgan upgraded coverage on ARRY shares with an Overweight rating and a $45.39 price target, which implies room for 6.75% upside momentum this year.

    Canadian Solar Inc. (CSIQ) last closed at $43.02, in a 52-week range of $12.00 to $45.70. The firm on November 23, 2020 reported that it signed a power purchase agreement with BTG Pactual and that it was awarded with two projects in a private auction by Furnas Centrais Elétricas for a total of 862 MWp in solar power projects in Brazil. Analysts have a consensus price target of $45.57.

    Enphase Energy Inc. (ENPH) stock soar by 10.61% to $160.46. The company recently revealed the launch of the Enphase Installer Network (EIN) in Australia. The most recent rating by Piper Sandler, on December 11, 2020, is at an Overweight.

    First Solar Inc. (NASDAQ:FSLR) Shares headed rising, higher as much as 5.39%. The most recent rating by Piper Sandler, on December 11, 2020, is at a Neutral.

    JinkoSolar Holding Co. Ltd. (NYSE:JKS) rose 17.78% after gaining more than $9.55 on Tuesday following declaration of changes to its senior management team.

    Sunnova Energy International Inc. (NOVA) last closed at $42.97, in a 52-week range of $6.12 to $46.00. On December 4, 2020, the firm reported that it closed its securitization of leases and power purchase agreements on November 30, 2020. Analysts have a consensus price target of $40.18.

    Sunrun Inc. (RUN) stock soar by 10.63% to $63.17. The firm on November 24, 2020 reported five environmental justice initiatives to expand access to solar and its benefits. The most recent rating by UBS, on October 27, 2020, is at a Sell.

    SolarEdge Technologies Inc. (NASDAQ:SEDG) Shares headed rising, higher as much as 6.97%. The most recent rating by Piper Sandler, on December 11, 2020, is at an Overweight.

    ReneSola Ltd (NYSE:SOL) rose 17.19% after gaining more than $1.2 on Tuesday. The company stated on December 8, 2020, that China’s Ministry of Finance approved ten of the Company’s rooftop projects to receive incentive payments.

    SPI Energy Co. Ltd. (SPI) last closed at $7.64, in a 52-week range of $0.55 to $46.67.

    SunPower Corporation (SPWR) stock soar by 13.10% to $24.87. The firm on November 24, 2020, declared a tender offer to purchase any and all of its outstanding 0.875% Convertible Senior Debentures due 2021. The most recent rating by UBS, on October 27, 2020, is at a Sell.

    Sunworks Inc. (NASDAQ:SUNW) Shares headed rising, higher as much as 12.81%. On December 7, 2020, the company announced that it has sold approximately 3.8 million shares of common stock. The most recent rating by ROTH Capital, on April 02, 2020, is at a Neutral.

    VivoPower International PLC (NASDAQ:VVPR) rose 19.16% after gaining more than $1.23 on Tuesday after announcing the appointment of Gemma Godfrey to the Company’s Board of Directors.