$SPI
SPI Energy Co Ltd
PRICE
$1.9 โฒ1.579%
Last Close
VOLUME
120,594
DAY RANGE
1.89 - 1.95
52 WEEK
1.51 - 8.59
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By Kanupriya Kapoor (Reuters) - Asia stocks rose on Wednesday even as central banks piled into aggressive rate hikes to battle soaring inflation and left investors worried about slower global growth. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.72%, with Australian shares up 0.72%, Seoul adding 0.84% and Taiwan advancing 1.07%. Hong Kong's Hang Seng and China's main indexes also traded higher, while Japan's Nikkei share average slipped 0.04%. European markets also looked set for a firmer open, with pan-European futures up 0.93% and FTSE 100 futures rising 0.88%. The U.S. dollar index =USD - which measures the currency against six major rivals - rebounded 0.16% to 101.92, a level not seen since April 26. Meanwhile the kiwi hit a three-week high of $0.65 after the New Zealand central bank raised rates by an aggressive 50 basis points and signalled more to come. Overnight, Wall Street reeled from weak housing and manufacturing data, while U.S. central bankers backed two more big interest rate hikes as early as June and July to fight 40-year-high inflation. The Nasdaq Composite dropped 2.35% and the S&P 500 lost 0.81%.[.N] New home sales in the U.S. fell 16.6% month-on-month in April, the largest decline in nine years, sending U.S. Treasuries yields down to one-month lows as investors turned once again to safety. The benchmark 10-year note was at 2.766% and the 2-year yield was at 2.522%. But Atlanta Fed President Raphael Bostic warned headlong rate hikes could create "significant economic dislocation" and was among a handful of Fed policymakers who favour reducing the pace of rate hikes later in the year if inflation cools. Investors in Asia remain similarly nervous about growth being impacted by the effects of persistent Chinese COVID-19 lockdowns, which threaten to undermine recent stimulus measures in the world's second-largest economy. "In Asia, investor debate centers on whether or not China's easing policies are sufficient to offset downward pressures,โ Stephen Innes of SPI Asset Management said in a note. "Fiscal multipliers will be minimal in an economy where economic activity have slowed sharply. Moving beyond mobility restrictions in short order is a pre-condition, but not a guarantee, for an Asia-led economic recovery." Gold prices dipped 0.19% to $1,862.27 per ounce, having risen to their highest in two weeks on Tuesday, as the greenback gained. Oil prices climbed more than 1% on the prospect of tight supplies. U.S. crude futures rose to $111.05 a barrel, and Brent rose to $114.86.
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By Noah Browning LONDON (Reuters) -Oil prices gained on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown that fuelled worries about a sharp slowdown in growth. Brent crude futures rose $1.06 or 0.9% to $113.61 a barrel by 1240 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed 97 cents, or 0.9%, to $111.25 a barrel, adding to last week's small gains for both contracts. "Oil prices are supported as gasoline markets remain tight amid solid demand heading into the peak U.S. driving season," said SPI Asset Management Managing Partner Stephen Innes. "Refineries are typically in ramp-up mode to feed U.S. drivers' unquenching thirst at the pump." The U.S. peak driving season traditionally begins on Memorial Day weekend at the end of May and ends on Labor Day in September. Analysts said despite fears about soaring fuel prices potentially denting demand, mobility data from TomTom and Google (NASDAQ:GOOGL) had climbed in recent weeks, showing more people were on the roads in places like the United States. A weaker U.S. dollar also sent oil higher on Monday, as that makes crude cheaper for buyers holding other currencies. Market gains have been capped, however, by concerns about China's efforts to crush COVID-19 with lockdowns, even with Shanghai due to reopen on June 1. Lockdowns in China, the world's top oil importer, have hammered industrial output and construction, prompting moves to prop up the economy, including a bigger-than-expected mortgage rate cut last Friday. "The persistent squeeze in refined petroleum products in the U.S. and ever-present Ukraine/Russia risk underpinned prices, with China slowdown and U.S. recession noise limiting gains," said Jeffrey Halley, a senior market analyst at OANDA. The European Union's inability to reach a final agreement on banning Russian oil following its invasion of Ukraine, which Moscow calls a "special operation", has also stopped oil prices from climbing much higher.
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By Isabel Kua SINGAPORE (Reuters) - Oil prices inched lower on Tuesday as Hungary resisted a European Union push for a ban on Russian oil imports, a move that would tighten global supply, with investors taking profits on a recent rally. Brent crude futures fell 11 cents, or 0.1%, to $114.13 a barrel by 0602 GMT, and U.S. West Texas Intermediate (WTI) crude futures slid 22 cents, or 0.2%, to $113.98 a barrel. Both benchmarks gained more than 2% on Monday, following a 4% jump on Friday. EU foreign ministers failed on Monday in their effort to pressure Budapest to lift its veto of a proposed oil embargo on Russia following the country's invasion of Ukraine. An embargo would require approval from all EU nations. On the supply side, U.S. producers are ramping up in order to replenish inventories that have dwindled in the wake of Russia's war on Ukraine - which Moscow calls "a special military operation" - and recovery from the COVID-19 pandemic. Oil output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil producer, is due to rise 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the U.S. Energy Information Administration (EIA) said on Monday. Still, overall sentiment on prices remained bullish amid optimism about demand recovery in China as it looks to ease COVID restrictions that have hurt its economy, analysts said. "All supply data suggest dips will be shallow despite potential demand destruction from China's lockdown but even in that view, we are seeing the light at the end of the lockdown tunnel trade," said Stephen Innes, managing partner at SPI Asset Management, in a note. Shanghai on Tuesday achieved the long-awaited milestone of three consecutive days with no new COVID-19 cases outside quarantine zones and set out on Monday its clearest timetable yet for exiting a lockdown now in its seventh week. Further supporting prices was the "intensifying geopolitical tension" between EU and Russia as Sweden and Finland seek to join NATO, CMC Markets analyst Tina Teng said. "This could cause a retaliation action by Russia to further cut gas supply," she added. Stockpiles in the Strategic Petroleum Reserve (SPR) fell to 538 million barrels, the lowest since 1987, data from the U.S. Department of Energy showed on Monday, underlining tight supply.
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By Noah Browning LONDON (Reuters) -Oil prices rose on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China's COVID lockdowns slowing global growth offset concerns about dwindling supplies from Russia. Brent crude futures were up $2.32, or 2.2%, at $109.77 a barrel at 1345 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $2.52, or 2.4%, to $108.65 a barrel. Both benchmark contracts were, however, on track to post slight declines for the week. The market is continuing to be pushed and pulled by the prospect of a European Union ban on Russian oil tightening supply and concerns about faltering global demand. SPI Asset Management managing partner Stephen Innes said in a note that oil traders were looking "for a glimmer of light at the end of China's gloomy lockdown tunnel". "Still, we continuously end up at square one with lower case counts weighted against the authorities doubling down on their zero COVID policy," he added. Inflation and rate rises have driven the U.S. dollar to 20-year highs, capping oil price gains as a stronger dollar makes oil more expensive when purchased in other currencies. Analysts, however, continue to focus on the prospect of a European Union ban on Russian oil, after Moscow imposed sanctions this week on European units of state-owned Gazprom (MCX:GAZP) and after Ukraine halted a key gas transit route. "Oil prices are rebounding today as the world is in wait-and-see mode over a broad economic downturn and the potential implications of a recession on oil demand," said Rystad Energy analyst Louise Dickson. "Extended Covid-19 lockdowns in China, rising cases elsewhere, and fiscal policy decisions to combat soaring inflation are giving the markets reason to be skittish as oil continues its run of over $100/barrel averages." An International Energy Agency report on Thursday said rising oil production in the Middle East and the United States and a slowdown in demand growth were "expected to fend off an acute supply deficit amid a worsening Russian supply disruption".
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By Florence Tan (Reuters) - Oil prices bounced on Wednesday ahead of an announcement by the U.S. Federal Reserve and further sanctions on Russia by the European Union, offsetting demand worries in top importer China. Brent crude futures had risen $1.46, or 1.4%, to $106.43 a barrel by 0616 GMT amid thin trading volume, with China and Japan closed for holidays. West Texas Intermediate crude futures rose $1.59 , or 1.6%, to $104.00 a barrel. The gains came on the back of news from Tuesday that the European Union would slap new sanctions on Russia for waging war on Ukraine. [nL3N2WW0CK] European Commission President Ursula von der Leyen is expected to spell out the proposed new sanctions on Wednesday, including a ban on imports of Russian oil by the end of 2022, officials said. Investors are also waiting for an announcement from the Fed on Wednesday. It is expected to intensify efforts to bring down high inflation by raising interest rates and reducing its balance sheet. Oil "prices remain in a holding pattern ahead of EU sanctions and the Fed", Stephen Innes of SPI Asset Management said in a note. In the United States, crude and fuel stocks fell last week, according to market sources citing American Petroleum Institute figures. Crude stocks fell by 3.5 million barrels for the week ended April 29, they said. This was more than an expected 800,000-barrel drop estimated in a Reuters poll. [API/S] U.S. government data on stocks is due on Wednesday. [EIA/S] Oil prices fell more than 2% on Tuesday on demand worries stemming from China's prolonged COVID-19 lockdowns that have curtailed travel plans during the Labour Day holiday season. [nL5N2WW04M] The global manufacturing purchasing managers index contracted in April for the first time since June 2020, with China's lockdowns a key contributor, Caroline Bain, chief commodities economist at Capital Economics said in a note. "The big picture is clearly negative for commodities demand," she said, adding that rising inflation and higher interest rates were starting to bear down on spending. "While supply constraints may keep commodity prices elevated for some time yet, we think subdued demand will weigh on most prices later this year and in 2023," Bain said. On Thursday, the Organization of the Petroleum Exporting Countries and their allies are expected to stick to their policy for another monthly production increase, although the group, known as OPEC+, undershot output targets between October and March, except for February.
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By Sonali Paul MELBOURNE (Reuters) - Oil prices fell on Monday in holiday-sapped trade in Asia as concerns about weak economic growth in China, the world's top oil importer, outweighed fears of potential supply stress from a looming European Union ban on Russian crude. Brent crude futures fell $1.13, or 1.1%, to $106.01 a barrel at 0511 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $1, or 1%, to $103.69 a barrel. Markets in Japan, India and across Southeast Asia were closed for public holidays on Monday. Prices fell after China released data on Saturday showing that factory activity in the world's second-largest economy contracted for a second month to its lowest since February 2020 because of COVID lockdowns. "A slowing to that extent, when China is already suffering from a property bust and worries about its (until recently) increased regulation, is potentially a major issue for commodity markets and the world economy," said Tobin Gorey, a Commonwealth Bank commodities analyst, in a note. On the supply side, Libya's National Oil Corp (NOC) said on Sunday it would temporarily resume operations at the Zueitina oil terminal to reduce stockpiles in storage tanks to avert an "imminent environmental disaster" at the port. NOC in late April declared force majeure on some shipments at Zueitina as political protesters forced a number of oil facilities to suspend operations. Limiting the down side for oil prices is a possible dent in supply with the European Union leaning towards banning imports of Russian oil by the end of the year, two EU diplomats said after talks between the European Commission and EU member states on the weekend. Around half of Russia's 4.7 million barrels per day (bpd) of crude exports go to the EU, supplying about one-fourth of the EU's oil imports in 2020. "In the absence of an immediate EU total oil embargo, eliminating mobility restrictions in China is necessary to drive oil out of its current range," said SPI Asset Management Managing Partner Stephen Innes. While Western countries have curbed buying Russian oil as sanctions have hit shipping and insurance for the country's exports, the impact on global supply has been cushioned as India has been picking up heavily discounted Russian cargoes. Royal Bank of Canada analysts estimated India's crude imports from Russia have grown from less than 100,000 bpd in 2021 to 800,000 bpd in April and expect India to continue ramping up imports as long as Washington does not impose secondary sanctions. Reuters reported on Friday that Indian refiners are negotiating a six-month oil deal with Russia to import millions of barrels per month.
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By Florence Tan (Reuters) -Oil prices extended gains on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Bulgaria and Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 67 cents, or 0.6%, to $105.66 a barrel by 0636 GMT. U.S. West Texas Intermediate crude futures gained 44 cents, or 0.4%, to $102.14 a barrel. Crude prices settled about 3% higher on Tuesday in volatile trade as the market is torn between supply and demand concerns over Russian oil and gas disruption and a worsening global economic outlook. "The market is increasingly volatile and event driven," said Howie Lee, an economist at Singapore's OCBC bank. "Energy security across the world is getting more vulnerable and vulnerable security normally comes with a higher price tag." Russian energy giant Gazprom (MCX:GAZP) said on Wednesday it has completely halted gas supplies to Bulgaria and Poland due to absence of payments from the countries in roubles for the fuel delivery, in a major escalation of Russia's broader row with the West over its invasion of Ukraine, which Moscow calls a "military operation". The row sent NYMEX ultra-low-sulfur diesel futures up more than 9% on Tuesday to settle at $4.47 a gallon, a record close. "Oil is supported via the escalation of geopolitical tensions," Stephen Innes of SPI Asset Management said in a note. "Cutting gas flows is not new news, but it's the timing of Russia plugging the gas flows when stagflationary fears are running rampant again." The International Monetary Fund (IMF) warned on Tuesday that Asia faces a "stagflationary" outlook with the Ukraine war, a spike in commodity costs and a slowdown in China creating significant uncertainty. China's central bank said on Tuesday it will step up prudent monetary policy support to its economy as Beijing races to stamp out a nascent COVID-19 outbreak in the capital and avert the same debilitating city-wide lockdown that has shrouded Shanghai for a month. Any stimulus would boost oil demand. Despite extended lockdowns in Asia's biggest aviation market, China's domestic flight demand has rebounded, pushing global airline capacity to its highest level in 2022 this week, travel data firm OAG said on Tuesday. In supply, U.S. government data on crude inventories is due later on Wednesday. Industry data on Tuesday showed U.S. crude and distillate stocks rose last week while gasoline inventories fell. [API/S] [EIA/S]
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RCAT - Potential hot chick. I rather let it push and exhaust first before I make a plan. A massive push toward 3.00 and rejection would have me interested, but until then. I have it on side radar SPI - FORMER RUNNER. This can be weak all morning then zombie back to highs. Be VERY CAREFUL here short side. Again, will WAIT ON THIS short side MULN - This has been holding very very strong and SSR is still on. This might continue to trap shorts as its been very crowded. Will probably ignore the short for now AMC - In a perfect world we get a big push toward 24 / 25 to short, if it just continues to tank LET IT TANK no need to chase lows. Its been red few days in a row so we might get a dead cat bounce LGVN - $14.04 is SSR trigger. I think they will trigger SSR then rebound it. So ideally a morning pop toward 15.00 / 15.50 / 16.00 with a 16.50 ultimate stop TWTR - Way out of my pay grade lol. Ignoring both long and short https://myinvestingclub.com/trading/how-to-scale-into-the-watch-list-when-to-use-max-full-size-when-trading-30-rule-watch-list/
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By Sonali Paul and Mohi Narayan MELBOURNE (Reuters) - Oil prices rose on Thursday in volatile trade following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the gap in output from Russia due to sanctions for its invasion of Ukraine. Brent crude futures were up $2.53, or 2.28%, at $113.67 a barrel at 0651 GMT after trading in about a $5 range. The benchmark contract slumped 13% in the previous session in its biggest one-day drop in nearly two years. U.S. West Texas Intermediate (WTI) crude futures were up $1.64, or 1.51%, at $110.34 a barrel, after trading in a $4 range. The contract had tumbled 12.5% in the previous session in the biggest daily decline since November. Uncertainty over where and when supply will come from to replace crude from the world's second-largest exporter Russia in a tight market has led to wide-ranging forecasts for oil prices between $100 and $200 a barrel. "So to suggest the oil market is confused would be an understatement as we are in an unprecedented situation," said Stephen Innes, managing partner at SPI Asset Management. Comments from the United Arab Emirates energy minister and the country's ambassador to Washington sent conflicting signals. UAE Energy Minister Suhail al-Mazrouei said on Twitter (NYSE:TWTR) late on Wednesday his country is committed to the existing agreement by the Organization of the Petroleum Exporting Countries and allies including Russia, together called OPEC+, to ramp up oil supply by 400,000 barrels per day monthly following sharp cuts in 2020. Just hours before, prices slumped on comments from UAE's ambassador to Washington saying his country will be encouraging OPEC to consider higher output to fill the supply gap due to sanctions on Russia after it invaded Ukraine. Russia calls its incursion a "special operation" to disarm its neighbour. The comments from UAE officials came as the market also took into account moves by the United States to ease sanctions on Venezuelan oil and efforts to seal a nuclear deal with Tehran, which could lead to more oil supply coming from Iran later this year. Talks set for Thursday between Russia and Ukraine's foreign ministers in Turkey also gave the market reason for pause. While UAE and Saudi Arabia have spare capacity, some other OPEC+ producers are struggling to meet their output targets due to underinvestment in infrastructure over the past few years, which will limit their ability to lift output further. "We think it will be challenging for OPEC+ to boost production in this environment," Commonwealth Bank commodities analyst Vivek Dhar said. Meanwhile, U.S. crude oil, fuel stockpiles fell last week, adding to the worries over already tight global supplies. Crude inventories fell by 1.9 million barrels in the week to March 4 to 411.6 million barrels, compared with analysts' expectations in a Reuters poll for a 657,000-barrel drop. U.S. crude stocks in the Strategic Petroleum Reserve fell to 577.5 million barrels, the lowest since July 2002.
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Key Metrics
Market Cap
53.09 M
Beta
1.43
Avg. Volume
204.85 K
Shares Outstanding
27.51 M
Yield
0%
Public Float
0
Next Earnings Date
2022-08-10
Next Dividend Date
Company Information
SPI Energy Co., Ltd. (the 'Company') is a global provider of photovoltaic ('PV') solutions for business, residential, government and utility customers and investors. The Company develops solar PV projects that are either sold to third party operators or owned and operated by the Company for selling of electricity to the grid in multiple countries in Asia, North America and Europe. The Company's subsidiary in Australia primarily sells solar PV components to retail customers and solar project developers. The Company has its operating headquarter in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia.
CEO: Roger Ye
Website: www.spigroups.com
HQ: , Suite 2703, 27/F, China Resources Building, 26 Harbour Road, Wan Chai
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