Piper Sandler lifts First Solar Inc. [FSLR] price estimate. Who else is bullish?


First Solar Inc. [NASDAQ: FSLR] surged by $11.74 during the normal trading session on Thursday and reaching a high of $92.54 during the day while it closed the day at $88.50. The company report on July 28, 2022 that First Solar, Inc. Announces Second Quarter 2022 Financial Results.

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Net sales of $621 million.

First Solar Inc. stock has also gained 20.80% of its value over the past 7 days. However, FSLR stock has inclined by 22.68% in the 3 months of the year. Over the past six months meanwhile, it has gained 15.88% and gained 1.54% year-on date.

The market cap for FSLR stock reached $9.52 billion, with 106.41 million shares outstanding and 95.14 million shares in the current float. Compared to the average trading volume of 1.51M shares, FSLR reached a trading volume of 7689107 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about First Solar Inc. [FSLR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FSLR shares is $84.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FSLR stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for First Solar Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 13, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $76.50 to $65.50. The new note on the price target was released on April 05, 2022, representing the official price target for First Solar Inc. stock. Previously, the target price had yet another drop from $75 to $65, while Wolfe Research kept a Peer Perform rating on FSLR stock. On March 02, 2022, analysts decreased their price target for FSLR shares from 116 to 76.

The Average True Range (ATR) for First Solar Inc. is set at 4.25, with the Price to Sales ratio for FSLR stock in the period of the last 12 months amounting to 3.83. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 14.40.

FSLR stock trade performance evaluation

First Solar Inc. [FSLR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.80. With this latest performance, FSLR shares gained by 30.63% in over the last four-week period, additionally plugging by 15.88% over the last 6 months – not to mention a rise of 6.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FSLR stock in for the last two-week period is set at 74.90, with the RSI for the last a single of trading hit 81.94, and the three-weeks RSI is set at 69.45 for First Solar Inc. [FSLR]. The present Moving Average for the last 50 days of trading for this stock 69.34, while it was recorded at 77.11 for the last single week of trading, and 82.09 for the last 200 days.

First Solar Inc. [FSLR]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and First Solar Inc. [FSLR] shares currently have an operating margin of +15.74 and a Gross Margin at +24.96. First Solar Inc.’s Net Margin is presently recorded at +16.03.

Return on Equity for this stock inclined to 8.17, with Return on Assets sitting at 6.45.

First Solar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 4.10.

Earnings per share (EPS) analysis for First Solar Inc. [FSLR] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FSLR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for First Solar Inc. go to -9.92%.

First Solar Inc. [FSLR]: Insider Ownership positions

There are presently around $6,046 million, or 79.60% of FSLR stock, in the hands of institutional investors. The top three institutional holders of FSLR stocks are: BLACKROCK INC. with ownership of 14,234,653, which is approximately 4.681% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 9,171,019 shares of the stock with an approximate value of $703.97 million in FSLR stocks shares; and INVESCO LTD., currently with $288.95 million in FSLR stock with ownership of nearly -4.269% of the company’s market capitalization.

Positions in First Solar Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 242 institutional holders increased their position in First Solar Inc. [NASDAQ:FSLR] by around 9,721,507 shares. Additionally, 234 investors decreased positions by around 10,861,839 shares, while 93 investors held positions by with 58,179,046 shares. The mentioned changes placed institutional holdings at 78,762,392 shares, according to the latest SEC report filing. FSLR stock had 58 new institutional investments in for a total of 1,725,615 shares, while 80 institutional investors sold positions of 1,219,313 shares during the same period.