Tuesday, July 31, 2007

Suntech Power Holdings Co., Ltd. (Public, NYSE:STP)

Oil continues to rally and many other solar stocks are trending into new high territory (FSLR, SPWR). Shares of STP are holding nicely above prior resistance in the 38.50-39.00 range and it looks like the shorts will begin to feel some real pain above 41.50-42.00

Suntech Power Holdings Co., Ltd. (Suntech) is a solar energy company that designs, develops, manufactures and markets a variety of photovoltaic (PV) cells and modules. It also provides PV system integration services in China. The Company's products are used in a variety of applications in various markets for both on-grid electricity generation and off-grid use, such as standalone lighting for street lamps, garden lamps, telecommunications relay stations, and mobile phone networks worldwide, including a number of European countries, such as Germany and Spain, as well as China and the United States. Suntech sells its products outside of China primarily through distributors and in China primarily to module manufacturers and end users directly. As of December 31, 2006, the average conversion efficiency rates of the Company's monocrystalline and multicrystalline silicon PV cells reached 16.8% and 15.6%, respectively. On August 11, 2006, Suntech acquired a 66.88% interest in MSK Corporation.