Here’s Why First Solar Shares are Up 7% and Solar Stocks are Following

Auriga says First Solar’s (NASDAQ:FSLR) decision to sell its 550-megawatt Topaz Solar Farm power plant has greater significance than just a boost to FSLR shares: The deal shows “high quality projects will get financing even in a dislocated macro environment… and will have a positive perception effect” on SunPower Corporation (NASDAQ:SPWRA), MEMC Electronic Materials, Inc. (NYSE:WFR), and others in projects down the road.

Here’s how solar stocks (NYSE:TAN) are trading on the news:

First Solar, Inc. (NASDAQ:FSLR): FSLR shares recently traded at $49.29, up $3.18, or 6.9%. They have traded in a 52-week range of $40.05 to $175.45. Volume today was 5,373,032 shares versus a 3-month average volume of 3,924,000 shares. The company’s trailing P/E is 8.09, while trailing earnings are $6.09 per share.

SunPower Corporation (NASDAQ:SPWRA): SPWRA shares recently traded at $N/A,. They have traded in a 52-week range of $ to $. Volume today was shares versus a 3-month average volume of shares. The company’s trailing P/E is , while trailing earnings are $ per share.

MEMC Electronic Materials Inc. (NYSE:WFR): WFR shares recently traded at $4.20, up $0.07, or 1.69%. They have traded in a 52-week range of $3.92 to $15.04. Volume today was 4,452,436 shares versus a 3-month average volume of 7,429,140 shares. The company’s trailing earnings are $-0.17 per share.

Suntech Power Holdings Co. Ltd. (NYSE:STP): STP shares recently traded at $2.73, up $0.13, or 5%. They have traded in a 52-week range of $1.70 to $10.83. Volume today was 3,368,685 shares versus a 3-month average volume of 4,460,980 shares. The company’s trailing P/E is 35.45, while trailing earnings are $0.08 per share.

Canadian Solar Inc. (NASDAQ:CSIQ): CSIQ shares recently traded at $2.87, up $0.13, or 4.74%. They have traded in a 52-week range of $2.07 to $16.79. Volume today was 569,158 shares versus a 3-month average volume of 1,160,200 shares. The company’s trailing earnings are $-0.12 per share.

Yingli Green Energy Holding Co. Ltd. (NYSE:YGE): YGE shares recently traded at $4.50, up $0.05, or 1.12%. They have traded in a 52-week range of $2.75 to $13.59. Volume today was 877,511 shares versus a 3-month average volume of 4,308,730 shares. The company’s trailing P/E is 4.21, while trailing earnings are $1.07 per share.

LDK Solar Co., Ltd. (NYSE:LDK): LDK shares recently traded at $4.22,. They have traded in a 52-week range of $2.55 to $14.97. Volume today was 1,661,953 shares versus a 3-month average volume of 2,284,910 shares. The company’s trailing P/E is 6.29, while trailing earnings are $0.67 per share.

Trina Solar Ltd. (NYSE:TSL): TSL shares recently traded at $7.92, up $0.03, or 0.38%. They have traded in a 52-week range of $5.28 to $31.08. Volume today was 1,454,100 shares versus a 3-month average volume of 3,967,790 shares. The company’s trailing P/E is 3.22, while trailing earnings are $2.46 per share.

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