First Solar: S&P Intraday Laggard

NEW YORK ( TheStreet) -- Solar company First Solar ( FSLR) was the worst performer in the S&P 500 intraday Wednesday.

The S&P 500 was rising 4.38 points, or 0.33%, to 1,347.74.

Shares of First Solar fell 3.84% ito $26.57. The stock has been having a rough week, as it was among the worst performers in the index on Monday as well.

The company is in the midst of a critical strategic transition.

First Solar shares hit a 52-week low on Wednesday of $26.51. The stock's 52-week high of $163 was set on April 1.

First Solar has an estimated price-to-earnings ratio of 6.17 times; the average for renewable energy equipment companies is 8.66. For comparison, SunPower ( SPWR) and STR Holdings ( STRI) both have higher forward P/Es of 11.35 and 11.42, respectively.

Twenty-six of the 40 analysts who cover First Solar rated it hold. Seven analysts gave the stock a buy rating and another seven rated it sell.

TheStreet Ratings gives First Solar a C- grade and a hold rating. The stock has fallen 21.27% year to date.

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-- Written by Alexandra Zendrian

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