Clear Skies Solar, Inc. has been sliding under the radar now for several months since it made its big move in July 2009 through November 2009 when it climbed from .04 to .28. Since then it has been on a slow slide back down under a dime, but it may be time to put CSKH back on the watch list.
Clear Skies Solar, formerly Clear Skies Holdings until a name change in January 2008, designs, markets, sells and installs solar power systems that are manufactured by highly-reputatable third parties such as Kyocera Solar, Suntech America and Sharp. Their growing list of customers has included municipalities, office and residential complexes, schools, real estate developers, agricultural companies, and more. Clear Skies has found themselves a solid niche by specializing in the sub 100 kilowatt systems market and they are becoming one of the premier solar electric installation companies in the United States.
Clear Skies proprietary products include PV panel mounting systems and its latest smart grid technology, XTRAX, a remote monitoring device for measuring the production of renewable energy systems. Clear Skies holds patent #7336201 with the United States Patent and Trademark office to protect its proprietary rights to the technology. This product was designed by Clear Skies and developed through their subsidiary Carbon 612, a company of which Clear Skies is the majority shareholder. The XTRAX device monitors, collects and interprets data from the system and then transmits it via cellular technology. This is done at a very low cost to the customer. Clear Skies has completed their extensive testing on XTRAX and has now sent it to Met Laboratories of Baltimore to conduct independent, unbiased testing on the accuracy of the smart grid technology.
In their latest press release, dated March 3, 2010, Ezra Green, CEO of Clear Skies Solar, stated, “We specifically developed this technology for small solar power producers, which is one of the fastest growing segments of the alternative energy and smart grid construction industries. With our proprietary data management software and patented hardware, we expect to gain a substantial market share based on our low cost-factor.”
Clear Skies Solar has announced two notable transactions recently. The first, an $800,000 contract with G&S Investors for a rooftop solar energy project in New Jersey that was released in January of this year. The second, a $1.3 million contract for another rooftop solar energy project in New Jersey with G&S Investors, giving Clear Skies a backlog of work totaling more than $2 million on the books within the first 2 months of 2010.
From a technical analysis standpoint, the CSKH chart is setting up into a classic “pincher play”. The Relative Strength Index (RSI) is trending upward over the last month, creating positive divergence with the Price Per Share (PPS). Other indicators appear to have reached bottom levels and are starting to turn back upward. There is not much support at this level due to the combination of the downtrend following the large climb, but these above mentioned facts based coupled with the revenue possibilities for 2010 makes this a chart to keep an eye on in the near future.