EverGreen Solar Wins $100 Million Contractposted by MR WAVETHEORY at 10/16/2006 09:43:00 AM
Evergreen Solar Inc (Nasdaq ESLR) just won a $100 million solar panel contract from Mainstream Energy over 4 years. This is a very large deal. Consider that Evergreen only has a market cap of $644 million and revenues last year of just $57 million. With this new deal and several others that have been announced, revenues could easily double - quarterly revenue growth has averaged 109% in the past year!
Betting against Evergreen Solar has so far been a very bad bet as you can see below there are over 14 million shares short. The stock looks like it is about to pop. With this deal, I would not be surprised if shares moved up to $15 which is where the stock was just a few months ago before the announcement.
|Average Volume (3 month)3:||1,764,410|
|Average Volume (10 day)3:||1,860,860|
|% Held by Insiders4:||15.17%|
|% Held by Institutions4:||70.30%|
|Shares Short (as of 12-Sep-06)3:||14.04M|
|Short Ratio (as of 12-Sep-06)3:||9.6|
|Short % of Float (as of 12-Sep-06)3:||21.40%|
|Shares Short (prior month)3:||13.70M|