If you missed out on the last five days of Satcon Technologies (Nasdaq: SATC) penny stock bull run, kick yourself in the teeth for missing 80% gains. The penny stock, SATC, finally relaxed a bit in the last trading session closing up 0.52% at $0.54 on volume of 1.32 million shares. Satcon Tech, a leading clean energy technology provider of utility-grade power conversion solutions for the renewable energy market, is a must add to the list of hot penny stocks to watch.
The recent surge in the penny stock was fueled by Satcon’s Q1 earnings guidance last week. SATC expects Q1 2012 revenue to be between $22 million and $25 million, in line with its previously announced guidance of $22 million to $28 million. Bookings for Q1 were roughly $45 million, a 130% increase from Q4 2011 and 27% from Q1 of 2011.
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SATC Stock Snap Shot:
Market Cap: 71.25M
Enterprise Value: 111.58M
52-Week High
(Apr 21, 2011): 3.40
52-Week Low
(Apr 10, 2012): 0.30
Avg Vol (3 month): 1,506,510
Avg Vol (10 day): 2,425,090
Shares Outstanding: 131.92M
Float: 104.07M
% Held by Insiders: 23.10%
SATC Pivot Points:
2nd Resistance Point: 0.57
1st Resistance Point: 0.56
Current Position: 0.54
1st Support Level: 0.53
2nd Support Level: 0.51
Satcon Technology Corp.focuses primarily on the large-scale commercial and utility-scale solar photovoltaic, or PV, markets. SATC designs and delivers advanced power conversion solutions that enable producers of renewable energy to convert clean energy into grid-connected, efficient and reliable electrical power. SATC‘s power conversion solutions boost total system power production through system intelligence, advanced command and control capabilities, industrial-grade engineering and total lifecycle performance optimization.
Satcon Tech’s power conversion solutions feature the widest range of power ratings in the solar industry. SATC also offers system design services and solutions for management, monitoring, and performance measurement to maximize capital investment and improve overall quality and performance over the entire lifespan of an installation.
To view the SEC filings for SATC, click here.
Bottom Line: Q1 for 2012 was SATC‘s most successful bookings period in four quarters, with a book-to-bill ratio of 1.9:1. Add SATC to your list of penny stocks to watch immediately as the resistance points were tested yesterday. SATC was $3.39 nearly a year ago and recorded top-line revenues of $188.55 million for fiscal 2011, nearly double 2009 fiscal year revenues.
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