A-Power Energy (APWR) is performing nicely today, but still has a long way to go to make up for the past few months. There is a conference call this Wednesday "to reaffirm guidance and discuss recent developments." I always say the Street hates uncertainty a lot more than bad news - so hopefully all the boogeymen's will be out from under the bed by then. It sounds outrageous but I continue to believe this is a $25-$35 stock by Dec 2009. $2-$2.50 EPS in 09 should have at least a 10 PE, if not more - the company is growing at a 50% clip.

• According to John Lin, A-Power's Chief Strategy Officer and Interim Chief Financial Officer, "We want to reaffirm our earnings guidance, while also noting we anticipate our third quarter 2008 financial statement review will be finalized within the next 30 days, when we will schedule our third quarter earnings call."

I am holding all shares, as "fair value" on this years $1.15 EPS should make this at least a $12-$15 stock "today". It is a backloaded year ($0.86 of this year's $1.15 is in the back half of the year) but their core distributed energy business is seasonal - this will change a lot once their wind business is up and running (earnings should be distributed more evenly through the year)

There are a lot of dirt cheap stocks out there, but on 2009 estimates it is hard to beat this one, along with the lack of need for cash and customers in countries who actually are creditor nations with account surpluses as opposed to debtor nations.

I still don't see any sort of SEC filing to see if the hedge fund which owned 15% of shares exited - should see something within 2 weeks at most if that's the cause.

Long A-Power Energy in fund and personal account