Greentech stocks rebound, but only partially

After the great market sell-off yesterday, stocks are rebounding slightly on Tuesday, including many of the greentech stocks that took a beating yesterday. But most of them are only up slightly. Here’s the latest:

Greentech stocks crash in market sell-off, too

Tech stocks took a beating on Monday morning, the first day of trading after Standard & Poor downgraded the credit ratings of credit agencies. At the same time, greentech stocks — from solar to biofuels to smart grid — fell alongside the weak macro economic news.

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Even With Stimulus, Smart Grid Could Face Rough Year

The smart grid might have launched into the mainstream lexicon recently with GE’s (s GE) super bowl ad and funding included in the current stimulus package, but the budding industry could falter out of the gate in this economic climate. Smart grid companies are showing some concern over utilities slowing down smart grid rollout plans in the near term, and the stimulus package is actually just a drop in the bucket of the investment needed to launch a nationwide smart grid.

This morning, Echelon (s ELON), which develops networking products to make the power grid smarter, reported a drop in earnings for the three month period ending December 31 — the company reported $36.8 million in revenues, with a loss of $6.26 million, down from $46.9 million in revenues, and a net income of $912,000 for the year earlier. The company’s CEO, Ken Oshman, also expressed slight concern over how the economic slowdown has hindered progress on utilities’ smart grid projects. Oshman added, though, that its utilities contacts in western Europe and North America will help Echelon deliver “modest growth” for its smart grid network products for the year.

Earlier this week, analysts at UBS downgraded Itron (s ITRI), a heavyweight smart meter maker, and said while the company: “may receive new [advanced metering infrastructure] awards at some point in 2009, we believe this is balanced with a risk that ‘09 guidance is revised downwards at some point due to utility capex cuts and/or AMI project delays.”
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