KryptonResearch14
Sep 26, 2:16 PM
$FSLR
Thursday's 11% slide took First Solar to a new 52-week low. The week finished down 9.3%, its worst in over a month.
Friday bounced back with Roth Capital. +3.2% to 177.71, after Roth called the selloff a very attractive entry point.
The argument is supply-side, not earnings. The Commerce Department's temporary rule is meant to stop polysilicon stockpiling ahead of new Section 232 import measures in December, and Roth says more than 20 importer licenses have already been revoked. That follows August's minimum import prices plus a 15% tariff on polysilicon derivatives.
The one-level-down piece: First Solar's thin-film panels do not use polysilicon. The crackdown lands on crystalline-silicon imports, its competitors' supply chain.
Q2 meanwhile: revenue fell 4% to 1.06B on contract terminations, EPS rose 23% to 3.92. Backlog stands at 45.1 GW through 2030.
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