First Solar Inc. [NASDAQ: FSLR] stock went on a downward path that fall over -2.70% on Wednesday, amounting to a one-week price decrease of less than -6.65%. The company report on December 15, 2022 that National Grid Renewables Orders 1.6 GW of First Solar Modules.
Order for advanced thin film solar modules, with deliveries in 2026 and 2027, follows prior 2 GW order.
National Grid Renewables Orders 1.6 GW of First Solar Modules.
Over the last 12 months, FSLR stock rose by 67.34%. The one-year First Solar Inc. stock forecast points to a potential upside of 9.23. The average equity rating for FSLR stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $15.60 billion, with 106.60 million shares outstanding and 101.07 million shares in the current float. Compared to the average trading volume of 3.16M shares, FSLR stock reached a trading volume of 2772371 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 $161.03 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 2.20. 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.
Daiwa Securities have made an estimate for First Solar Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 23, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $147 to $190. The new note on the price target was released on November 28, 2022, representing the official price target for First Solar Inc. stock. Previously, the target price had yet another raise to $180, while Deutsche Bank analysts kept a Buy rating on FSLR stock. On November 01, 2022, analysts increased their price target for FSLR shares from 89 to 162.
The Average True Range (ATR) for First Solar Inc. is set at 7.11, with the Price to Sales ratio for FSLR stock in the period of the last 12 months amounting to 6.18. The Price to Book ratio for the last quarter was 2.67, with the Price to Cash per share for the same quarter was set at 18.06.
FSLR Stock Performance Analysis:
First Solar Inc. [FSLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.65. With this latest performance, FSLR shares dropped by -11.74% in over the last four-week period, additionally plugging by 118.69% over the last 6 months – not to mention a rise of 67.34% 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 39.36, with the RSI for the last a single of trading hit 32.45, and the three-weeks RSI is set at 44.23 for First Solar Inc. [FSLR]. The present Moving Average for the last 50 days of trading for this stock 152.06, while it was recorded at 154.42 for the last single week of trading, and 106.72 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 3.10 and a Current Ratio set at 4.10.
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 $12,262 million, or 83.10% of FSLR stock, in the hands of institutional investors. The top three institutional holders of FSLR stocks are: BLACKROCK INC. with ownership of 15,379,602, which is approximately -2.488% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 9,457,489 shares of the stock with an approximate value of $1.38 billion in FSLR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $631.6 million in FSLR stock with ownership of nearly 17.485% 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 300 institutional holders increased their position in First Solar Inc. [NASDAQ:FSLR] by around 12,755,093 shares. Additionally, 233 investors decreased positions by around 9,850,299 shares, while 85 investors held positions by with 61,283,321 shares. The mentioned changes placed institutional holdings at 83,888,713 shares, according to the latest SEC report filing. FSLR stock had 151 new institutional investments in for a total of 5,229,251 shares, while 46 institutional investors sold positions of 1,575,108 shares during the same period.