FSLR Bucks Solar Trend As Share Price Drops

FSLR Bucks Solar Trend As Share Price Drops

First Solar is taking a hit, even as most clean energy stocks are gaining.

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Reviewed by: Ben Kissam
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Edited by: Ben Kissam

First Solar, Inc. (FSLR) dropped 9.55% on Wednesday from the previous day's close, at $75.62. The decline comes as a result of FSLR's after-hours report that contained lackluster fourth-quarter 2021 numbers and lukewarm projections for 2022. 

FSLR's $907.3 million revenue claim fell short of analyst predictions by about $10 million . Management cited logistical and supply chain issues, as well as increased manufacturing costs (especially for purchasing steel) as a result of the COVID-19 pandemic for this revenue gap.  

Those at the top weren't exactly optimistic about improvements in 2022, either. FSLR management predicted both lower net sales and earnings per share as compared to last year. FSLR currently sits a few dollars above its 52-week low of $61.24. 

First Solar, Inc. is held by 137 ETFs. Vanilla ETFs make up nearly a quarter of this number, followed by multifactor ETFs and active management ETFs. Unsurprisingly, the stock is also a holding in 15 ESG ETFs. 

The ETFs with the most exposure include the Invesco Solar ETF (TAN), with a 6.79% allocation, followed by the ALPS Clean Energy ETF (ACES), holding 4.58% and the Global X CleanTech ETF (CTEC), with 4.12%. The iShares Core S&P Mid-Cap ETF (IJH) holds the most shares overall, at 2.76 million. 

 

 

 

FSLR's drop runs counter to many solar stocks at the moment, as the Russia-Ukraine conflict has energy producers across Europe and America scrambling to secure different fuel sources. Large-scale oil and gas companies have seen extreme volatility in recent days, leading some to put their money in various alternative energy investment products. 

This helps explain the large gains some ETFs have enjoyed, especially those in the ESG space.  

Below are the top-performing ETFs with FSLR over the past 30 days: 

 

 

With tightening sanctions and political uncertainty still running rampant, the energy sector as a whole is likely to continue to have its share of peaks and valleys. Prior to the conflict, Russia was exporting as many as 5.2 million barrels of oil per day, half of which was distributed throughout Europe. 

Ben Kissam is a writer and media strategist. A former educator, he's written two books and had essays published in The Boston Globe and Thought Catalog. He lives in Denver.