First Solar (FSLR) Shows Strength: Stock Gains 9.7%

First Solar, Inc. FSLR was a big mover last session with its shares rising roughly 10% on the day. The upside came on the announcement that Congress plans to extend a solar investment tax credit by five years. This development benefited solar stocks and led to far more First Solar shares changing hands than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past month’s volatile price range of $52.75 to $59.84.

This provider of solar energy solutions worldwide has seen one downward estimate revision in the last 7 days. However, the Zacks Consensus Estimate has remained unchanged over the same period. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.

First Solar currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.

Investors interested in the solar industry may also consider JA Solar Holdings Co., Ltd. JASO, which holds a Zacks Rank #1 (Strong Buy).

Is FSLR going up? Or down? Predict to see what others think: Up or Down

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