Canadian Solar Inc. (NASDAQ:CSIQ) is falling 6% in pre-market trading after reporting fourth earnings results. The company reported revenues of $1.12 billion , compared to estimates of $1.04 billion and earnings of $1.05 per share, compared to consensus estimates of $0.76 per share. Despite better than expected earnings, the company posted disappointing guidance for Q1, guiding revenues of $645-695 million compared to $799 million estimates, and FY2016 revenue guidance of $.29-$3.1 billion, lower than consensus guidance of $3.37 billion.
According to TipRanks’ statistics, all 4 analysts who have rated the company in the last 3 months gave a Buy rating. The average 12-month price target for the stock is $35.67, marking a 64% upside from where shares last closed.
XOMA Corp (NASDAQ:XOMA) is up over 22% in pre-market trading after the company released Q4:15 earnings yesterday after market close. The anti-body based therapeutics company posted revenues of $48.18 million and earnings of $0.21 per share, shooting past analysts’ estimates of $4.01 million and ($0.15) per share, respectively. According to the company, the fourth quarter success is attributable to upfront payments for licensing deals with Novartis, Novo Nordisk, and Pfizer.
Following earnings, analyst Adnan Butt of RBC Capital weighed in on the stock with a Sector Perform rating and $2 price target. He states, “Focus now is earlier stage endocrine programs with enough cash at hand through proof of concepts in 2016 and into 1Q:17. Gevokizumab is now for sale and could bring in more non-dilutive capital. XOMA remains a show me story but recent business development activity has really broadened the financial footprint both in terms of bringing in capital and creating future optionality via partnered programs.”
Out of 7 analysts polled by TipRanks, 6 are neutral on the stock, while only one is bullish. The average 12-month price target for the stock is $2.96, marking a 233% upside from where shares last closed.
FuelCell Energy Inc (NASDAQ:FCEL) shares are down 11% in pre-market trading after the company reported Q1:16 earnings yesterday after market close. The company posted revenues of $33.5 million and a loss of ($0.48) per share, compared to estimates of $35.21 million and a loss of ($0.28 per share). In the first quarter, the company entered a 20-year power purchase agreement with Pfizer and continued to advance its Beacon Falls Energy Park project.
According to TipRanks’ statistics, 2 analysts rated the company in the last 3 months with a Buy rating. The average 12-month price target for the stock is $15.50, marking a 119% upside from where shares last closed.
Energy XXI Ltd (NASDAQ:EXXI) is plunging 33% in pre-market trading after a regulatory filing yesterday indicated the company may file for Chapter 11 bankruptcy amidst consistently low oil prices and debt hurdles. Although Brent crude oil reached over $40 a barrel recently, the company relies on a $60 a barrel price to keep it at break-even levels, leaving an unclear path of how to refinance its $4 billion debt. The company stated, “Absent a material improvement in oil and gas prices or a refinancing or some restructuring of our debt obligations or other improvement in liquidity, we may seek bankruptcy protection to continue our efforts to restructure our business and capital structure.” In addition to missing a recent $8.8 million interest payment on senior notes, the company also stated that they may have to liquidate their assets for below value prices.
According to TipRanks’ statistics, only 1 analyst rated the company in the past 3 months with a Hold rating.