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First Solar

First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.

First Solar Inc

FIRST SOLAR ORD

Goldman Sachs analyst Brian Lee maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Buy and lowers the price target from $311 to $279.

News

Price Target

Analyst Ratings

FSLR

Goldman Sachs Maintains Buy on First Solar, Lowers Price Target to $279

RBC Capital analyst Chris Dendrinos maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Outperform and lowers the price target from $315 to $280.

RBC Capital Maintains Outperform on First Solar, Lowers Price Target to $280

Piper Sandler analyst Kashy Harrison maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Overweight and lowers the price target from $250 to $245.

Piper Sandler Maintains Overweight on First Solar, Lowers Price Target to $245

Wells Fargo analyst Michael Blum maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Overweight and lowers the price target from $250 to $240.

Wells Fargo Maintains Overweight on First Solar, Lowers Price Target to $240

Evercore ISI Group analyst Sean Morgan maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Outperform and lowers the price target from $281 to $278.

Evercore ISI Group Maintains Outperform on First Solar, Lowers Price Target to $278

BMO Capital analyst Ameet Thakkar reiterates First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Outperform and lowers the price target from $286 to $260.

Reiteration

BMO Capital Reiterates Outperform on First Solar, Lowers Price Target to $260

Susquehanna analyst Biju Perincheril maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Positive and lowers the price target from $280 to $252.

Susquehanna Maintains Positive on First Solar, Lowers Price Target to $252

Morgan Stanley analyst Andrew Percoco maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Overweight and lowers the price target from $329 to $297.

Morgan Stanley Maintains Overweight on First Solar, Lowers Price Target to $297

B of A Securities analyst Julien Dumoulin-Smith maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Buy and lowers the price target from $321 to $269.

B of A Securities Maintains Buy on First Solar, Lowers Price Target to $269

WIIM

First Solar shares are trading lower after the company reported worse-than-expected Q3 financial results and cut its FY24 guidance.

First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) reported its third-quarter results after Tuesday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/10/b41610228/first-solar-inc-announces-third-quarter-2024-financial-results">key figures from the quarter. </a>
The Details: First Solar reported quarterly earnings of $2.91 per share, which missed the analyst consensus estimate of $3.13. The company said its earnings were impacted by a $50 million product warranty reserve charge during the quarter.
Quarterly revenue came in at $887.67 million, which missed the analyst consensus estimate of $1.07 billion. First Solar reported year-to-date net bookings of 4.0 GW with 0.4 GW since the company&#8217;s second-quarter earnings call. The company said it has an expected sales backlog of 73.3 GW.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41524809/boeing-strike-drags-on-union-contract-rejection-adds-further-uncertainty-costs-reco">Boeing Strike Drags On: Union Contract Rejection &#8216;Adds Further Uncertainty, Costs, Recovery Delays,&#8217; Says Analyst</a>
&#8220;As we approach the end of 2024, we remain pleased with the progress made across our business, navigating against a backdrop of industry volatility and political uncertainty, with a continued focus on balancing growth, profitability and liquidity,&#8221; said Mark Widmar, CEO of First Solar.
&#8220;We expect that our disciplined, long-term approach will allow us to work through the outcomes of the upcoming U.S. elections as well as the continued volatility across the solar manufacturing industry,&#8221; Widmar added.
Outlook: First Solar revised its fiscal 2024 net sales forecast from a range of $4.4 billion to $4.6 billion to a new range of $4.1 billion to $4.25 billion, versus the $4.44 billion estimate. The company also revised its full-year earnings forecast from between $13 and $14 per share to between $13 and $13.50 per share, versus the $13.49 estimate.
FSLR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, First Solar shares are down 4.84% after-hours at $190.38 at the time of publication Tuesday.
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41497160/starbucks-analysts-bullish-on-ceo-brian-niccol-after-tough-preannouncement-zeroing-">Starbucks Analysts Bullish On CEO Brian Niccol After Tough Preannouncement: &#8216;Zeroing In&#8217; On Right Issues</a></li>
</ul>
This image was generated using artificial intelligence via MidJourney.&nbsp;

Earnings

After-Hours Center

Movers

First Solar Stock Sinks After Worse-Than-Expected Q3 Results, Cut FY24 Guidance

<h3>Gainers</h3>
<ul>
<li>Mirion Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MIR#NYSE">MIR</a>) shares rose 8.8% to $15.31 during Tuesday's after-market session. The company's market cap stands at $3.5 billion. The company's, Q3 earnings came out today. </li>
<li>Oblong (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OBLG#NASDAQ">OBLG</a>) stock rose 8.4% to $3.74. The market value of their outstanding shares is at $4.0 million. </li>
<li>8x8 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGHT#NASDAQ">EGHT</a>) stock increased by 4.76% to $2.2. The market value of their outstanding shares is at $282.3 million. </li>
<li>Avnet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVT#NASDAQ">AVT</a>) shares increased by 4.64% to $56.99. The market value of their outstanding shares is at $5.0 billion. </li>
<li>Next Technology Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) shares moved upwards by 4.54% to $1.15. The company's market cap stands at $8.0 million. </li>
<li>Viasat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) stock moved upwards by 3.01% to $10.59. The company's market cap stands at $1.3 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Qorvo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) shares declined by 14.5% to $85.95 during Tuesday's after-market session. The company's market cap stands at $8.1 billion. The company's, Q2 earnings came out today. </li>
<li>Focus Universal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCUV#NASDAQ">FCUV</a>) shares fell 7.45% to $0.24. The market value of their outstanding shares is at $16.6 million. </li>
<li>First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) shares decreased by 6.69% to $186.33. The company's market cap stands at $19.9 billion. The company's, Q3 earnings came out today. </li>
<li>Abits Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABTS#NASDAQ">ABTS</a>) shares fell 5.18% to $0.55. The market value of their outstanding shares is at $19.5 million. </li>
<li>Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) stock fell 5.17% to $157.66. The company's market cap stands at $255.1 billion. As per the press release, Q3 earnings came out today. </li>
<li>Varonis Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>) shares fell 4.99% to $55.85. The market value of their outstanding shares is at $6.2 billion. As per the news, the Q3 earnings report came out today. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ABTS

EGHT

FCUV

Next Technology Holding Inc. - Ordinary Shares

NXTT

OBLG

QRVO

VRNS

VSAT

12 Information Technology Stocks Moving In Tuesday's After-Market Session

First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) reported quarterly earnings of $2.91 per share which missed the analyst consensus estimate of $3.13 by 7.03 percent. The company reported quarterly sales of $887.67 million which missed the analyst consensus estimate of $1.07 billion by 17.30 percent. This is a 10.81 percent increase over sales of $801.09 million the same period last year.

Earnings Misses

First Solar Q3 2024 GAAP EPS $2.91 Misses $3.13 Estimate

Guidance

First Solar Revises FY24 Net Sales Forecast From $4.4B - $4.6B To $4.10B - $4.25B (Est $4.44B), EPS From $13.00 - $14.00 To $13.00 - $13.50 (Est $13.49)

First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) reported quarterly sales of $887.67 million which missed the analyst consensus estimate of $1.07 billion by 17.30 percent. This is a 10.81 percent increase over sales of $801.09 million the same period last year.

First Solar Q3 Sales $887.67M Miss $1.07B Estimate

Across the recent three months, 9 analysts have shared their insights on First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for First Solar, presenting an average target of $288.22, a high estimate of $343.00, and a low estimate of $254.00. Experiencing a 0.07% decline, the current average is now lower than the previous average price target of $288.43. 
<img src="https://www.benzinga.com/files/images/story/2024/1730214070_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The analysis of recent analyst actions sheds light on the perception of First Solar by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Sean Milligan</td>
<td>Janney Montgomery Scott</td>
<td>Announces</td>
<td>Buy</td>
<td>$260.00</td>
<td>-</td>
</tr>
<tr>
<td>Vikram Bagri</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$254.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$280.00</td>
<td>$285.00</td>
</tr>
<tr>
<td>Philip Shen</td>
<td>Roth MKM</td>
<td>Lowers</td>
<td>Buy</td>
<td>$280.00</td>
<td>$320.00</td>
</tr>
<tr>
<td>Dushyant Ailani</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$266.00</td>
<td>$271.00</td>
</tr>
<tr>
<td>Julien Dumoulin-Smith</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$321.00</td>
<td>$343.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$300.00</td>
<td>-</td>
</tr>
<tr>
<td>Julien Dumoulin-Smith</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$343.00</td>
<td>$320.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$290.00</td>
<td>$280.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to First Solar. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of First Solar compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for First Solar's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of First Solar's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/FSLR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on First Solar analyst ratings.</a>
<h2>Unveiling the Story Behind First Solar</h2>
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.
<h3>First Solar: A Financial Overview</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: Over the 3 months period, First Solar showcased positive performance, achieving a revenue growth rate of 24.65% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: First Solar's net margin is impressive, surpassing industry averages. With a net margin of 34.57%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): First Solar's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 4.94%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): First Solar's ROA stands out, surpassing industry averages. With an impressive ROA of 3.21%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: First Solar's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.09.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Beyond The Numbers: 9 Analysts Discuss First Solar Stock

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Citigroup analyst Renata Cabral upgraded the rating for Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOF#NYSE">KOF</a>) from Neutral to Buy and raised the price target from $93 to $102. Coca-Cola Femsa shares closed at $84.40 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Janney Montgomery Scott analyst Sean Milligan upgraded the rating for First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) from Neutral to Buy and announced a $260 price target. First Solar shares closed at $205.03 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Julien Dormois upgraded Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>) from Underperform to Hold. Philips shares closed at $26.62 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James analyst Steven Seedhouse upgraded ProQR Therapeutics N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRQR#NASDAQ">PRQR</a>) from Outperform to Strong Buy and boosted the price target from $6 to $14. ProQR Therapeutics shares closed at $3.31 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays analyst Adam Seiden upgraded the rating for Summit Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) from Equal-Weight to Overweight and raised the price target from $45 to $52. Summit Materials shares closed at $45.63 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying FSLR stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="534" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29094905/image-301-1024x534.png" alt="" class="wp-image-619521" style="width:617px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29094905/image-301-1024x534.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29094905/image-301-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29094905/image-301-768x401.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29094905/image-301.png 1217w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/news/24/10/41598310/jim-cramer-avoid-this-consumer-cyclical-stock-buy-lam-research">Jim Cramer: &#8216;Avoid&#8217; This Consumer Cyclical Stock, Buy Lam Research</a></li>
</ul>

Upgrades

Markets

Trading Ideas

PRQR

This First Solar Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday

Janney Montgomery Scott analyst Sean Milligan upgrades First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) from Neutral to Buy and announces $260 price target.

Janney Montgomery Scott Upgrades First Solar to Buy, Announces $260 Price Target

Solar energy companies have been among the <a href="https://www.benzinga.com/markets/esg/24/10/41450681/enphase-energy-solar-stock-stuck-in-the-dark-hopes-earnings-spark-a-turnaround">market&#8217;s biggest underperformers</a> in recent weeks but traded well in the green on Friday. Have solar&#8217;s woes hit an inflection point?
Solar&#8217;s Performance: Investors have been bearish on solar energy in 2024. The solar-tracking Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) is down over 25% year to date; solar&#8217;s performance in the past month ranks last in the technology industry.
The largest components have fared poorly <a href="https://www.benzinga.com/quote/ENPH/earnings">following lackluster earnings</a>. Rising material costs and political uncertainty aren&#8217;t helping, either.
Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shed over 30% of its market cap from Sept. 24 to Thursday. Canadian Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) is down over 18% while shares of First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) dropped nearly 20% in that timeframe.
Array Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) has performed, comparatively, even in the past month, though is down over 61% in 2024.
What Happened Friday: Solar stocks were among the market&#8217;s top performers on Friday, according to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-10-25/china-solar-stocks-jump-on-optimism-oversupply-will-be-addressed">reported</a> on Friday morning that China could address oversupply concerns by curbing industry production. A new policy could speed up the retirement of less-efficient polysilicon plants; polysilicon is a key component in the solar supply chain.
The market quickly reacted:
<ul>
<li>Shares of Canadian Solar closed the day up 9.83%.</li>
<li>Shares of Enphase Energy closed the day up 3.37%.</li>
<li>Shares of Array Technologies closed the day up 4.38%.</li>
<li>Shares of First Solar closed the day up 1.24%.</li>
</ul>
What&#8217;s Next?: An obvious catalyst (or hindrance) for investors looking to invest in the solar energy industry is the <a href="https://www.benzinga.com/topic/2024-presidential-election">2024 United States presidential election</a> between Vice President Kamala Harris and former President Donald Trump. 
Harris, the Democratic nominee, has supported <a href="https://www.benzinga.com/markets/esg/24/07/39888337/what-a-kamala-harris-presidency-could-mean-for-oil-stocks-chevron-marathon-move-lower">reducing greenhouse gas emissions</a> through the adoption of green energy. Trump, the Republican nominee, has <a href="https://www.benzinga.com/markets/equities/24/07/39846094/exclusive-would-a-trump-victory-help-or-hurt-solar-stocks-benzinga-poll-shows-investors-divided">previously falsely claimed</a> that climate change is a hoax. A Trump presidency <a href="https://www.benzinga.com/markets/equities/24/10/41213583/what-a-trump-win-could-mean-for-financial-energy-stocks-lessons-from-2016">would likely benefit</a> mining, oil and gas companies and present an obvious headwind for solar.
Perhaps much of solar&#8217;s underperformance in recent weeks can be chalked up to <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41455938/donald-trumps-election-odds-surge-to-64-on-polymarket-60-on-kalshi-and-favorite-in-all-swi">growing market confidence</a> that Trump will prevail come November. Solar stocks <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">previously performed well</a> during times of momentum for Harris.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41552274/tech-stocks-rally-as-investors-await-magnificent-7-earnings-dollar-eyes-fourth-straight-positive-we">Tech Stocks Rally As Investors Await Magnificent 7 Earnings; Dollar Eyes Fourth Straight Positive Week: What&#8217;s Driving Markets Friday?</a></li>
</ul>
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