Unless the stock is SolarCity (SCTY), where it benefit’s from Elon Musk’s name, forget about any positive momentum. Such is the case for First Solar (FSLR). The value play reported great numbers in its first quarter, but the stock slumped nearly 10 percent. What is going on? First Solar earned $1.66 per share, beating consensus by a mile ($0.73 per share). Revenue jumped 81% Y/Y while the guidance is narrowed but unchanged at the high end ($4.50 per share). FSLR is clearly mis-priced. The value gets better for investors at this range. Taking advantage of the impatience of investors, whereby projects are delayed but not cancelled. FSLR may still exceed consensus in the near-term as projects are completed earlier than thought. As traders look at the stock price, value investors should look at the higher gross margin, operating income, EPS, and operating cash flow increases for the fiscal year.