First Solar: S&P Intraday Laggard
NEW YORK (TheStreet) -- Solar company First Solar(FSLR) was the worst performer in the S&P 500 intraday Wednesday.
The S&P 500 was rising 4.38 points, or 0.33%, to 1,347.74.
Shares of First Solar fell 3.84% ito $26.57. The stock has been having a rough week, as it was among the worst performers in the index on Monday as well.
The company is in the midst of a critical strategic transition.
First Solar shares hit a 52-week low on Wednesday of $26.51. The stock's 52-week high of $163 was set on April 1.
First Solar has an estimated price-to-earnings ratio of 6.17 times; the average for renewable energy equipment companies is 8.66. For comparison, SunPower(SPWR) and STR Holdings(STRI) both have higher forward P/Es of 11.35 and 11.42, respectively.
Twenty-six of the 40 analysts who cover First Solar rated it hold. Seven analysts gave the stock a buy rating and another seven rated it sell.