First Solar slides after Bank of America downgrades stock to underperform

Published Tue, Apr 5 20227:32 AM EDT

Brett Catchings scans a series 6 solar panel at the end of the manufacturing line during a tour of a First Solar plant in Walbridge, Ohio, October 6, 2021.

Dane Rhys | Reuters

Shares of First Solar declined 5% during premarket trading Tuesday after Bank of America downgraded the stock to underperform from neutral, saying the company has been given "too much credit for a reality that has never materialized."