Investors Shun Solar Stocks (TAN) and Reject First Solar (FSLR)
Tweet
Share
E-mail
Get Alerts FSLR Hot Sheet
Join SI Premium – FREE
Share of First Solar (NASDAQ: FSLR) are taking a beating again today as investors grow increasingly pessimistic about stocks in the solar sector. Shares of First Solar rallied briefly this month on news that the U.S. was imposing duties on solar imports from China, but since then the stock has been unable to gain traction.
Gordon Johnson of Axiom Capital warned early in the week that First Solar might be forced to replace panels at government sites and that it was behind on other projects. There is also a risk that it could lose projects because it failed to gain regulatory approvals required by government agencies.
Other stocks in the solar sector are also looking weak, with Guggenheim Solar ETF (NYSE: TAN) lower by 1 percent intra-day. Share of First Solar are down 7 percent and making fresh, multi-year lows.
Gordon Johnson of Axiom Capital warned early in the week that First Solar might be forced to replace panels at government sites and that it was behind on other projects. There is also a risk that it could lose projects because it failed to gain regulatory approvals required by government agencies.
Other stocks in the solar sector are also looking weak, with Guggenheim Solar ETF (NYSE: TAN) lower by 1 percent intra-day. Share of First Solar are down 7 percent and making fresh, multi-year lows.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- First Solar (FSLR) PT Raised to $207 at Jefferies
- Chinese solar exports fell 15% in June, BofA says
- Crude Inventory Rose 2 Million Barrels Last Week - EIA
Create E-mail Alert Related Categories
ETFsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
