First Solar And Other Solar Energy Stock Hit By Generally Weak Outlook For …

September 1, 2012 by  
Filed under Solar Energy Tips

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Thu, Aug 30 2012 00:00:00 E
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Shares of First Solar (FSLR) fell sharply Thursday as more Chinese producers have cut their expectations for the year, suggesting a prolonged period of weak demand and prices.

First Solar, the largest U.S.-based maker of thin-film solar panels, was down more than 16% in afternoon trading Thursday.

Yingli Green Energy (YGE) and JA Solar Holdings (JASO) lowered 2012 shipment forecasts on Wednesday, as both reported wider-than-expected losses for the second quarter. Yingli’s U.S. shares were down nearly 9%, near 1.70. JA was down just a fraction, but it trades below 1 and hasn’t been above 5 in a year.

China’s solar industry has expanded rapidly with large government funding. Since 2010, the price of polysilicon wafers used to make solar cells has dropped 73%, according to Maxim Group.

Shares of First Solar, after falling sharply for most of the past year, began rising after the company reported solid second-quarter results June 14. Earnings rose 136%. Revenue rose 80% to $957.3 million, largely from selling utility-scale power projects. At the time it also raised its revenue guidance for 2012, thanks to a surge in development and construction activity.

Solar stocks did get a boost earlier this month, on a good report from Trina Solar (TSL), as we reported. Trina was down nearly 5% Thursday.

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