Earlier this week, GLJ Research cut the price target on FSLR to $250 from $314.43 while keeping a buy rating.

  • At about nine times earnings, with net cash still building and “the bad news largely in the price, the risks are mostly paid for,” GLJ said. 
  • Roth Capital analyst Philip Shen pointed to a new Commerce Department rule meant to stop companies from stockpiling cheap imported solar materials before new tariffs and price floors take effect. 
  • FSLR’s Q2 revenue of about $1.06 billion was slightly below forecasts and down from a year earlier.

Shares of First Solar, the largest U.S. maker of thin-film solar panels, fell over 10% on Thursday and hit a new 52-week low, clocking its worst session since early June, as investors weighed slower booking visibility, lower analyst targets, and lingering trade-policy uncertainty.

On Wednesday, it closed down 4%, before continuing the selloff on Thursday. The stock is down 12% this week, on track for its worst week since late February, if the losses hold. Peers Enphase Energy and SolarEdge closed 1% and 4% lower, respectively, at the time of writing, as higher financing costs have made large utility-scale projects harder to lock in.

What Wall Street Said

Earlier this week, GLJ Research cut the price target on FSLR to $250 from $314.43 and kept a Buy rating. The firm noted the stock was already down 23.4% this year and said, “A growing number of very good investors have lately asked us the same question: is First Solar a sell?” After updating its model and trying “in good faith to build the SELL case,” GLJ said it “could not.” At about nine times earnings, with net cash still building and “the bad news largely in the price, the risks are mostly paid for,” the analyst wrote.

Roth Capital analyst Philip Shen was more upbeat about the near term. He pointed to a new Commerce Department rule meant to stop companies from stockpiling cheap imported solar materials before new tariffs and price floors aimed at reducing Chinese-linked products from undercutting U.S. factories take effect in December. Roth says that could keep extra low-priced inventory from flooding the market and delaying a rebound in U.S. panel prices. The firm called the rule a plus for First Solar, T1 Energy, and Toyo, all of which it rates Buy.

Backdrop

On July 30, First Solar, which makes thin-film solar panels, reported second-quarter earnings of $3.92 a share, well above estimates near $2.86 to $2.90. Revenue of about $1.06 billion was slightly below forecasts and down from a year earlier. Management still pointed to a contracted backlog of about 45 gigawatts, worth $13.6 billion, with deliveries stretching through 2030.

On Sept. 15, First Solar dropped its case at the U.S. trade agency that can block imports over patents on a popular type of silicon solar cell. The company said it will keep suing rivals in regular federal court instead. It tied the change to new U.S. tariffs and import rules on polysilicon, arguing those measures already tighten the border. Some investors saw the move as a weaker short-term win because an import ban would have hit faster.

How Did FSLR Retail Traders React?

On Stocktwits, retail sentiment around FSLR stock rose from ‘bearish’ to ‘bullish’ over the past 24 hours, while message volume increased from ‘normal’ to ‘high’ levels.

A Stocktwits user said that while other solar names like Enphase Energy and SolarEdge also slipped intraday, they pared back much of their losses.

View this Stocktwits post

Another user voiced concerns about competition from Chinese solar panels.

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FSLR stock has fallen 34% year-to-date, while ENPH gained 2%. SEDG, meanwhile, added 11%. 

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