First Solar (FSLR) Worst Stock in S&P 500 This Year
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According to market data, First Solar (Nasdaq: FSLR) will be the worst performer in the S&P 500 through 2011..and by quite a margin. The stock closed Thursday's session down 74.8 percent to $32.86. The next lowest finish was Alpha Natural Resources, Inc. (NYSE: ANR), down 67.2 percent.
First Solar and others in the solar sector were hit mostly by Europe's debt issues. With countries like Germany, Italy, and Spain atop the list of those making a move to implement more solar power, funds which may have been used for subsidies/installations were probably used for bail outs. Lower installations in the hottest solar markets doesn't breed confidence elsewhere, and that's when investors start re-evaluating...and quickly.
First Solar recently cut its outlook due to delayed projects, citing "weather and other factors." Analysts haven't been kind to First Solar either; rightfully so. According to data from our Ratings Insider, 15 firms downgraded First Solar in 2011, compared with just 3 upgrades. The average price target of $55.50 still implies upside from here, however. Click here to go to Streetinsider's analyst page for First Solar.
Who knows what's in store for First Solar and its brethren in 2012. A continued rise in energy prices and a recovery in Europe could create a pop in the market. But, ceteris paribus, 2012 might turn out to be another dog year for First Solar.
According to market data, First Solar (Nasdaq: FSLR) will be the worst performer in the S&P 500 through 2011..and by quite a margin. The stock closed Thursday's session down 74.8 percent to $32.86. The next lowest finish was Alpha Natural Resources, Inc. (NYSE: ANR), down 67.2 percent.
First Solar and others in the solar sector were hit mostly by Europe's debt issues. With countries like Germany, Italy, and Spain atop the list of those making a move to implement more solar power, funds which may have been used for subsidies/installations were probably used for bail outs. Lower installations in the hottest solar markets doesn't breed confidence elsewhere, and that's when investors start re-evaluating...and quickly.
First Solar recently cut its outlook due to delayed projects, citing "weather and other factors." Analysts haven't been kind to First Solar either; rightfully so. According to data from our Ratings Insider, 15 firms downgraded First Solar in 2011, compared with just 3 upgrades. The average price target of $55.50 still implies upside from here, however. Click here to go to Streetinsider's analyst page for First Solar.
Who knows what's in store for First Solar and its brethren in 2012. A continued rise in energy prices and a recovery in Europe could create a pop in the market. But, ceteris paribus, 2012 might turn out to be another dog year for First Solar.
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