Solar stocks are showing signs of profit. This would be a good time to be looking into buying opportunities.
Solar stocks have often been painted in a negative light, but the prices of solar panels being sold to the public are down. An oversupply of panels from China, as well as new technologies, has made the prices drop.
Solar stocks at their current levels would be a good buy. Solyndra filing for bankruptcy, a pet project of Obama, may seem like a bad thing for solar. However, the Wall Street Pit points out that this may be a sign companies are exiting the solar market, leaving only room for “the strong to survive,” and leading to a possible increase in margins.
Stocks like SunPower Corp. (NASDAQ: SPWRA), Trina Solar Ltd. (NYSE: TSL), and JA Solar Holding Co., Ltd. (NASDAQ: JASO) are all at attractive trading levels, according to InTheMoneyStocks.com.
First Solar (NASDAQ: FSLR) is another company that’s on the rise. Equities research analyst, Jefferies, gave the company a “buy” rating.
Analysts at Standpoint Research gave First Solar a “buy” rating and a $120.00 price target on Tuesday, Sept. 13. Analysts at Collins Stewart upgraded shares of First Solar from a “neutral” rating to a “buy” rating in a research note to investors on Friday, August 26th, and they now give the stock a price target of $132.00.
First Solar manufactures and sells solar modules with their advanced thin film semiconductor technology. The company also designs, constructs and sells photovoltaic (PV) solar power systems.
Shares of First Solar traded down 2.61% during mid-day trading on Thursday, hitting $71.60. First Solar has a 52-week low of $72.59 and a 52-week high of $175.45. The stock’s 50-day moving average is $95.59 and its 200-day moving average is $122.8. The company has a market cap of $6.179 billion and a price-to-earnings ratio of 12.53.
Until next time,