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October 16, 2006

EverGreen Solar Wins $100 Million Contract

posted 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.

Share Statistics
Average Volume (3 month)3:1,764,410
Average Volume (10 day)3:1,860,860
Shares Outstanding:67.15M
% 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

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