First Solar: S&P Laggard

NEW YORK ( TheStreet) -- First Solar ( FSLR) was the worst-performing stock in the S&P 500 on Monday morning.

The S&P was falling 17 points, or 1.23%, to 1,361.53 in early action as disappointing data from China and Europe stoked investor worries about the health of the global economy.

Shares of First Solar were off more than 6% to $19.36. The stock was reportedly downgraded to neutral from outperform by Robert W. Baird.

First Solar hit a 52-week low Monday of $19.10. The stock's 52-week high of $144.97 was set on April 29.

First Solar shares trade at an estimated price-to-earnings ratio for next year of 4.9 times; the average for renewable energy equipment companies is 8.5X. For comparison, GT Advanced Technologies ( GTAT) has a lower forward P/E of 4.5X.

Twenty-seven of the 39 analysts who cover First Solar rate it at hold. Six analysts give the stock a buy rating and another six rate it at hold.

TheStreet Ratings gives First Solar a C- grade and hold rating. The stock has fallen 42.65% year to date.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

-- Written by Alexandra Zendrian in New York.

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to:

>To follow the writer on Twitter, go to Alexandra Zendrian.

If you liked this article you might like

Novice Trade: UVXY

Gold Prices Have Just Formed a Classic Technical Pattern That Hints Even Higher Prices Are Coming

7 of 11 S&P Sector ETFs Set Post-Election Highs, While Energy Sets Post-Election Low

The Stock Market Has Been Amazingly Resilient -- Check Out These 10 Charts