First Solar Inc. [FSLR] Revenue clocked in at $2.48 billion, up 50.50% YTD: What’s Next?

First Solar Inc. [NASDAQ: FSLR] stock went on a downward path that fall over -0.17% on Thursday, amounting to a one-week price increase of more than 10.50%. The company report on October 27, 2022 that First Solar to Accelerate American Thin Film PV Innovation with $270 Million Investment in Dedicated R&D Innovation Center.


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First Solar to Accelerate American Thin Film PV Innovation with $270 Million Investment in Dedicated R&D Innovation Center.

First Solar to Accelerate American Thin Film PV Innovation with $270 Million Investment in Dedicated R&D Innovation Center.

Over the last 12 months, FSLR stock rose by 19.01%. The one-year First Solar Inc. stock forecast points to a potential upside of 5.7. The average equity rating for FSLR stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $13.54 billion, with 106.59 million shares outstanding and 101.05 million shares in the current float. Compared to the average trading volume of 3.20M shares, FSLR stock reached a trading volume of 3071646 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $139.11 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 2.30. 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.

Evercore ISI have made an estimate for First Solar Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 29, 2022. While these analysts kept the previous recommendation, Goldman dropped their target price from $60 to $172. The new note on the price target was released on September 08, 2022, representing the official price target for First Solar Inc. stock. Previously, the target price had yet another raise from $104.50 to $141, while BofA Securities kept a Buy rating on FSLR stock. On August 18, 2022, analysts increased their price target for FSLR shares from 54 to 136.

The Average True Range (ATR) for First Solar Inc. is set at 6.41, with the Price to Sales ratio for FSLR stock in the period of the last 12 months amounting to 5.46. The Price to Book ratio for the last quarter was 2.37, with the Price to Cash per share for the same quarter was set at 17.88.

FSLR Stock Performance Analysis:

First Solar Inc. [FSLR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.50. With this latest performance, FSLR shares dropped by -3.68% in over the last four-week period, additionally plugging by 81.54% over the last 6 months – not to mention a rise of 19.01% 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 55.80, with the RSI for the last a single of trading hit 59.82, and the three-weeks RSI is set at 55.62 for First Solar Inc. [FSLR]. The present Moving Average for the last 50 days of trading for this stock 128.41, while it was recorded at 127.38 for the last single week of trading, and 89.26 for the last 200 days.

Insight into First Solar Inc. 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.

FSLR Stock EPS

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%.

First Solar Inc. [FSLR] Insider Position Details

There are presently around $10,545 million, or 81.00% 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 $1.22 billion in FSLR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $482.47 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 October and at the time of the October reporting period, where 223 institutional holders increased their position in First Solar Inc. [NASDAQ:FSLR] by around 8,541,607 shares. Additionally, 225 investors decreased positions by around 6,520,799 shares, while 107 investors held positions by with 65,327,075 shares. The mentioned changes placed institutional holdings at 80,389,481 shares, according to the latest SEC report filing. FSLR stock had 72 new institutional investments in for a total of 1,164,593 shares, while 65 institutional investors sold positions of 2,107,044 shares during the same period.

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