First Solar (FSLR) disappointed investors today by missing revenue forecasts and offering below-consensus guidance. And investors expressed their displeasure by dumping the company’s stock, sending it down 18% to $25.70.
Associated PressChina’s solar stocks haven’t taken the news well. Trina Solar (TSL) has plunged 5% to $4.03, a day after releasing disappointing earnings of its own. JinkoSolar Holding (JKS) has dropped 4.6% to $7.92, JA SolarHoldings (JASO) has fallen 3.8% to $4.34, and Suntech Power Holdings (STP) has dropped 5.6% to $1.36. Yingli Green Energy Holdings (YGE) has plunged 6% to $2.53.
There is some news not related to First Solar today. Maxim Group came out with its take on Trina’s earnings. Its analysts deem the stock a hold and say there’s “little reason for optimism with cost structure still unable to cope with normalized solar pricing.” Still, they expect the stock to say in a trading range between $3 and $6 because it’s got $918 million on hand–enough to keep it afloat for years.
Yingli, meanwhile, announced that its U.S. subsidiary had renewed its partnership with non-profit solar installer GRID Alternatives.
