Charged: Tesla Discloses $1.5b Bitcoin Investment

In a research note to investors on Monday, Roth Capital analyst Philip Shen highlighted a bill that was introduced to the House Ways and Means Committee on Friday that could extend the investment tax credit for five years at 30% and include storage, provide an 85% direct pay option, and create an additional 10% tax credit for construction jobs meeting certain labor requirements. The analyst's channel checks suggest the bill currently does not have any Republican support. This could be part of a larger infrastructure bill or perhaps a slimmed down Green Act, with checks suggesting the timing of passage could be late spring or early summer depending the vehicle it is attached to, says Shen. Further, the analyst believes the passage of the bill could be a "meaningful positive" for nearly every company in his coverage universe including, Enphase Energy (ENPH), SolarEdge (SEDG), Generac (GNRC), Sunnova Energy (NOVA), Sunrun (RUN), SunPower (SPWR), First Solar (FSLR), Array Technologies (ARRY), JinkoSolar (JKS), Canadian Solar (CSIQ), Daqo New Energy (DQ), Maxeon Solar (MAXN), Hannon Armstrong (HASI), TPI Composites (TPIC) and AMSC (AMSC).


On Tuesday, Craig-Hallum analyst Richard Shannon lowered the firm's price target on Velodyne Lidar (VLDR) to $29 from $31, while keeping a Buy rating on the shares ahead of quarterly results. The analyst believes he has identified two potential situations driving management's comments of "lower visibility" in the automotive market called out on its negative Q4 preannouncement. First, Veoneer's (VNE) comments that an OEM customer went with a different LiDAR tech than Velodyne's. Second, the analyst also highlighted reports of Hyundai (HYMTF) choosing production-ready Valeo over Velodyne. Along with fewer ADAS projects exiting Q4 than the prior quarter, this suggests more difficulties in the auto market that need to be better understood, Shannon contended.


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