First Solar fell 10.3% to $172.16 on Sept. 24, 2026, near its 52-week low and 46% below its $320.95 high. Wall Street firms still assign it a consensus Buy rating, with an average price target above $270, despite concerns over rates, subsidies and litigation.
Bulls cite First Solar’s US manufacturing and proprietary panel technology, along with tariffs on foreign solar panels and rules rewarding domestic production. They also point to its large backlog of signed orders, rising electricity demand tied to AI data centers and a valuation of about 12 times trailing earnings, below its historical multiple.
Bearish concerns include the possibility that cuts to solar tax credits could hurt profits, higher-for-longer rates pressuring the industry and analysts cutting forecasts that may still be too high. Ongoing securities litigation concerns past disclosures about international tariff exposure and could keep uncertainty alive for months. Insider Monkey data show 64 hedge funds held FSLR in Q2 2026, down from 67 in Q1; short interest was nearly 13% of shares.
