Market Analysts see First Solar Inc. [FSLR] gaining to $141. Time to buy?

First Solar Inc. [NASDAQ: FSLR] jumped around 7.2 points on Wednesday, while shares priced at $134.80 at the close of the session, up 5.64%. The company report on August 30, 2022 that First Solar to Invest up to $1.2 Billion in Scaling Production of American-Made Responsible Solar by 4.4 GW.

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First Solar to Invest up to $1.2 Billion in Scaling Production of American-Made Responsible Solar by 4.4 GW.

First Solar Expects to be the Largest Employer in the US Solar Manufacturing Sector by 2025.

First Solar Inc. stock is now 54.66% up from its year-to-date (YTD) trading value. FSLR Stock saw the intraday high of $135.20 and lowest of $125.57 per share. The company’s 52-week high price is 130.95, which means current price is +126.17% above from all time high which was touched on 09/07/22.

Compared to the average trading volume of 2.38M shares, FSLR reached a trading volume of 4343131 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $120.57 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.

BofA Securities have made an estimate for First Solar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 26, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $54 to $136. The new note on the price target was released on August 18, 2022, representing the official price target for First Solar Inc. stock. Previously, the target price had yet another raise to $145, while KeyBanc Capital Markets analysts kept a Overweight rating on FSLR stock. On August 08, 2022, analysts increased their price target for FSLR shares from 83 to 126.

The Average True Range (ATR) for First Solar Inc. is set at 6.11, with the Price to Sales ratio for FSLR stock in the period of the last 12 months amounting to 5.86. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 17.12.

How has FSLR stock performed recently?

First Solar Inc. [FSLR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.21. With this latest performance, FSLR shares gained by 26.29% in over the last four-week period, additionally plugging by 69.52% over the last 6 months – not to mention a rise of 42.68% 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 84.89, with the RSI for the last a single of trading hit 87.40, and the three-weeks RSI is set at 82.04 for First Solar Inc. [FSLR]. The present Moving Average for the last 50 days of trading for this stock 95.66, while it was recorded at 128.84 for the last single week of trading, and 82.73 for the last 200 days.

First Solar Inc. [FSLR]: Deeper insight into the 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 3.20 and a Current Ratio set at 4.20.

Earnings analysis for First Solar Inc. [FSLR]

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 5.64%.

Insider trade positions for First Solar Inc. [FSLR]

There are presently around $10,984 million, or 82.20% of FSLR stock, in the hands of institutional investors. The top three institutional holders of FSLR stocks are: BLACKROCK INC. with ownership of 15,771,973, which is approximately 10.8% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 9,321,166 shares of the stock with an approximate value of $1.26 billion in FSLR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $495.78 million in FSLR stock with ownership of nearly 26.488% 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 204 institutional holders increased their position in First Solar Inc. [NASDAQ:FSLR] by around 8,749,779 shares. Additionally, 231 investors decreased positions by around 5,885,542 shares, while 106 investors held positions by with 66,851,081 shares. The mentioned changes placed institutional holdings at 81,486,402 shares, according to the latest SEC report filing. FSLR stock had 43 new institutional investments in for a total of 993,441 shares, while 74 institutional investors sold positions of 2,053,867 shares during the same period.


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