Akeena Solar has been around since 2001, and unlike several solar power developers, Akeena actually is switching households and businesses to solar everyday. This firm has developed a highly integrated product for the direct users, which is a distinct departure from the larger producers and manufacturers.
Producing and installing solar power systems makes Akeena Solar a slightly less exciting stock. Their stock symbol is AKNS and the current price is $3.45 per share. Currently Akeena is installing solar power generation systems in four states, which are New Jersey, New York, Connecticut and California. AKNS traded at over $14 a share back in January of this year, so it has come down quite a bit.
The company has been losing money, but the CEO attributed much of the recent losses to the fact that Akeena has been installing solar systems largely for the residential market. But in August of '08 the CEO for Akeena indicated that the number of commercial projects was growing siginificantly. Developing projects for businesses is bound to be more lucrative for Akeena. Another interesting concept is that Akeena only serves four states right now. If this continues to grow into more states and more markets, Akeena will have access to more potential customers.
With the stock still achieving new lows every week, it seems that AKNS may call for some further watching and waiting. However, should this stock become to oversold (say below $2) then it could be a tempting purchase. The company needs to keep an eye on their costs and keep growing their commercial business. Keep an eye on AKNS and watch for a chance at getting in at a very low price.
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