SatCon Technology Corp. (SATC) led photovoltaic manufacturers including First Solar (FSLR) Inc. higher today on speculation that first-quarter equipment orders may have been stronger than expected.
SatCon rose 60 percent to 48 cents a share in New York, the highest since March 1, and First Solar climbed 5.2 percent to $22.50 a share after earlier gaining as much as 12 percent.
SatCon, a Boston-based maker of energy converters for renewable projects, said orders during the first quarter rose 27 percent to about $45 million. Revenue for the quarter was between $22 million to $25 million, matching the low-end of their guidance, SatCon said today in a statement. That provided a book-to-bill ratio, or orders received over units shipped, of about two during the quarter.
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SatCon rose 60 percent to 48 cents a share in New York, the highest since March 1, and First Solar climbed 5.2 percent to $22.50 a share after earlier gaining as much as 12 percent.
SatCon, a Boston-based maker of energy converters for renewable projects, said orders during the first quarter rose 27 percent to about $45 million. Revenue for the quarter was between $22 million to $25 million, matching the low-end of their guidance, SatCon said today in a statement. That provided a book-to-bill ratio, or orders received over units shipped, of about two during the quarter.
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