Shares of First Solar Inc., the solar-panel maker based in Phoenix but whose only production facilities are in Perrysburg, closed up a hefty $8.75 yesterday and finished with a record stock high of $66.70.
The surge came a day after the firm, founded in Toledo as Solar Cells Inc., reported first-quarter earnings that easily beat Wall Street estimates. Analysts predicted break-even earnings, but the firm had a profit of $5 million on sales of $66.9 million.
The company stock began trading late last year in the $20s. In mid-February, it had a one-day bounce of $9.44, and in March it gained more than $10 a share in a week after some stock experts touted it.