First Solar (FSLR) Shares Leading Solar Sector Higher, Now Up 9+%

April 11, 2012 10:00 AM EDT
Traders are continuing to buy the recent dip in shares of First Solar (Nasdaq: FSLR) Wednesday morning. Shares are currently up more than 9 percent and have breached the $22 and $23 levels. The stock jumped nearly 6 percent on Tuesday.

First Solar shares tumbled more than 17 percent last week, extending a decline which began in mid February. The stock is down about 30 percent so far this year.

Possibly giving investors some hope this morning, a Department of Defense spokesperson has said the Air Force is planning to add 1 gigawatt in renewable energy capacity by 2016.

The entire solar sector seems to be catching a bid Wednesday. The Global Solar ETF (NYSE: TAN) is up about 4.4 percent at last check. Elsewhere in the sector: Suntech (NYSE: STP) up 7.5 percent, SunPower (Nasdaq: SPWR) up 4.7 percent, Trina Solar (NYSE: TSL) up 6.3 percent, JinkoSolar (NYSE: JKS) up 6.3 percent and JA Solar (Nasdaq: JASO) up 4.6 percent.

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