First Solar (NASDAQ:FSLR) Shares Gap Down After Earnings Miss

First Solar, Inc. (NASDAQ:FSLR) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $243.21, but opened at $197.54. First Solar shares last traded at $210.05, with a volume of 3,720,027 shares.

The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.81%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business posted $3.65 earnings per share. First Solar’s revenue was up 11.1% on a year-over-year basis.

Key Stories Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Q4 results showed record 2025 revenue and profit and a revenue beat versus consensus, supporting longer‑term fundamentals. First Solar Sees Record 2025 Profit
• Positive Sentiment: First Solar signed a patent‑licensing deal with Oxford PV for U.S. markets, which could strengthen future technology/cost positioning. Patent Licensing Agreement
• Positive Sentiment: Several sell‑side firms retained Buy/Outperform stances (UBS, TD Cowen, Needham) despite cutting price targets — signaling some analysts still expect medium‑term upside. Analyst Notes
• Neutral Sentiment: Short‑term technicals produced a “power inflow” trading signal that briefly lifted the shares during intraday action. Trading Signal Article
• Negative Sentiment: The company guided FY‑2026 net sales to roughly $4.9B–$5.2B, well below Wall Street’s ~$6.2B consensus — the primary catalyst for heavy selling. Guidance / Reuters
• Negative Sentiment: Q4 EPS missed estimates (reported $4.84 vs. ~$5.22 expected), amplifying concerns about near‑term profitability. Earnings Miss
• Negative Sentiment: Rising tariff/policy uncertainty (U.S. preliminary duties on imports and management commentary on tariff impacts) is clouding demand visibility and margin assumptions. Tariff/Policy News
• Negative Sentiment: Multiple banks trimmed price targets and at least one firm (Baird) cut its rating/target, increasing near‑term selling pressure and analyst uncertainty. Analyst PT Changes

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FSLR. Glj Research upped their target price on First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a report on Tuesday, November 4th. Seaport Research Partners increased their price target on shares of First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Evercore boosted their target price on shares of First Solar from $240.90 to $241.00 in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a “buy” rating to a “hold” rating and set a $245.00 target price for the company. in a research report on Wednesday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $316.00 price target on shares of First Solar in a research note on Friday, October 31st. Twenty-one research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Institutional Investors Weigh In On First Solar

Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in First Solar during the fourth quarter valued at approximately $392,040,000. Viking Global Investors LP lifted its stake in First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after purchasing an additional 854,919 shares in the last quarter. Polar Capital Holdings Plc bought a new position in First Solar in the 4th quarter valued at $200,109,000. Lightrock Netherlands B.V. grew its position in shares of First Solar by 2,663.8% during the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock valued at $174,059,000 after purchasing an additional 642,199 shares in the last quarter. Finally, Amundi grew its position in shares of First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after purchasing an additional 564,032 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 13.6%

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The stock has a market cap of $22.55 billion, a P/E ratio of 14.79, a PEG ratio of 0.31 and a beta of 1.60. The firm’s fifty day moving average price is $244.57 and its two-hundred day moving average price is $236.13.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.