First Solar (FSLR) shares surged 5.05% in Wednesday's morning trading session, riding the wave of a broader rally in solar energy stocks. The uptick comes on the heels of better-than-expected earnings reported by industry peer SolarEdge, igniting optimism across the sector.

SolarEdge, a key player in the solar industry, reported third-quarter earnings per share of $-0.31, surpassing analyst estimates by $0.10. The company's revenue of $340.21 million also beat the consensus estimate of $330.29 million, demonstrating resilience in a challenging market environment.

The positive sentiment from SolarEdge's earnings report rippled through the solar energy sector, lifting stocks across the board. While SolarEdge itself saw a dramatic 22% increase, other companies in the space also experienced significant gains. Canadian Solar jumped 18%, JinkoSolar rose 9%, and both NEXTracker and Array Technologies climbed 6%. First Solar's 5.05% increase aligns with the sector-wide trend, reflecting investor confidence in the solar industry's near-term prospects.