Why First Solar (FSLR) Shares Are Falling Today

What happened?

Shares of solar panel maker First Solar ( NASDAQ:FSLR ) fell 8.5% in the morning session after Jefferies analyst Dushyant Ailani cut his price target on the stock from $271 to $266 and expects the stock to have underperformed during the third-quarter earnings season given lower volumes. . He also expressed concern about large-scale solar power projects due to “long interconnection queues, supply chain and labor shortages”.

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What the market tells us

First Solar shares are highly volatile and have had 24 moves of more than 5% in the past year. In this context, today’s move indicates that the market sees this news as significant, but not something that would fundamentally change its perception of the business.

First Solar is up 20.2% year-to-date, but at $207.30 a share, it still trades 31.1% below its 52-week high of $300.71 from June 2024. Investors who bought $1,000 worth of First Solar stock 5 years ago would now be looking at an investment worth $3,661.

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