Evergreen Solar (ESLR) Near a 52 week low

Evergreen Solar, Inc. (Public, NASDAQ:ESLR) is near an all time low, and we think investors are overlooking the potential the stock has. Prior to the November 4th elections, Evergreen made a nice 100% gain on the outlook of the Obama presidential ticket. Well, investors got what they wanted, but Evergreen’s momentum has since fizzled out, falling back down near its 52 week low – currently at $2 and change.

In spite of that, the Solar Sector is heating back up, when you look at related companies in the Solar Sector (Prices as of Tuesday, December 3rd):

On October 15th, Evergreen announced it has signed two new long-term sales contracts totaling more than 160 MW. The first is with Mainstream Energy Corporation and AEE Solar, Inc., a leading wholesale distributor in North America; the second contract is with, one of the top-tier general trading companies in Japan.. The combined contracts extend the company’s total contractual backlog to more than 1 GW. Shipments under these contracts will begin in 2009 and continue through 2012.

The solar panels for these two contracts will be produced at the company’s Devens, Massachusetts, facility and at the company’s next factory. With these contracts, the Devens facility has now sold 100 percent of its 160 MW manufacturing capacity from 2010 and beyond.

“Despite the current uncertainty in the financial markets and concerns regarding the availability of credit to fund major projects, the demand for our products among our customers remains strong.” said Richard M. Feldt, Evergreen Solar’s chairman, president and chief executive officer.

Stockmasters, while the Solar Industry is feeling some heat, all it’s really going to take for Evergreen’s share price to move upwards is some kind words on alternative energy from the President Elect. And that my friends, is just a matter of time. Evergreen has a lot of upside potential and not very much downside at this time – take advantage of the low share price while you can.

ESLR Chart: