Benzinga | Oct 11, 2021 11:32AM EDT

Why First Solar Shares Are Rising

Shares of several solar stocks, including First Solar, Inc. (NASDAQ:FSLR), are trading higher amid energy supply shortages, causing a potential increase in demand for alternative energy sources.

The stock could also possibly be trading higher as traders circulate Investor Business Daily naming the stock as a new pick.

According to a Wall Street Journal report, energy supply shortages are slowing factory activity around the world and contributing to a recent pickup in inflation.

Worries about inflation and climbing government-bond yields have in turn sparked volatility in U.S. stocks in recent weeks.

First Solar, Inc. provides photovoltaic solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. It operates in two segments, Modules and Systems.

First Solar's stock was trading about 6% higher at $104.59 per share on Monday at the time of publication. The stock has a 52-week high of $112.50 and a 52-week low of $67.71.