What's Going On With First Solar Stock?

First Solar, Inc. FSLR shares are trading lower Thursday after Jefferies cut its price target on the stock from $271 to $266.

The Details:

First Solar shares are trading lower after Jefferies analyst Dushyant Ailani maintained a buy rating on the stock but lowered the price target from $271 to $266. This marks the second price target decrease this week after B of A Securities lowered its price target from $343 to $321 on Tuesday. 

Read Next: What’s Going On With SoFi Stock?

What Else:

Shares of companies in the clean energy sector may also be trading lower as recent polls show former President Donald Trump leading in several key swing states. 

Thursday's September Consumer Price Index inflation report came in hotter-than-expected along with a surprising spike in weekly jobless claims. The reports are weighing on major stock indices as investors consider the latest economic data and its potential effects on future rate cuts. 

According to data from Benzinga Pro, First Solar shares are trading below the stock’s 50-day moving average of $227.63 and are down 12% over the past five days.

Should I Sell My FSLR Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of First Solar have gained 38.7% year to date. This compares to the average annual return of 30.25%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. First Solar stock currently has an RSI of 4.81, indicating oversold conditions.

For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.

FSLR Price Action: According to Benzinga Pro, First Solar shares are down 8.13% at $207.50 at the time of publication Thursday.

Read Also:

• What Happened With Celsius Holdings Stock Today?

This image was generated using artificial intelligence via MidJourney.