First Solar (FSLR) Gets Hate from Jim Chanos

First Solar (NASDAQ:FSLR) has been getting clobbered lately, and the latest joining the dump-FSLR club is Jim Chanos.

He said this on CNBC today:

"There’s a real easy part of the story: Insiders are selling lots and lots of stock over the past year, and insiders are leaving the company. That’s never a good sign. Whether you should be short, we have some issues with some of their accounting, we have some issue with some of their subsidized markets. And quite frankly, solar, still, is at a point where it does not compete with natural gas. we cannot rely on wind and solar for base load. We’re still looking for the magic bullet for solar and wind. I think the stock certainly could earn a lot less than the $9 run-rate the bulls are looking at."

Numerous analysts are mixed on their outlook for First Solar and the solar industry in general, which continues to weaken.

First Solar was trading at $127.34, falling $7.32, or 5.44 percent, as of 1:58 PM EDT.