First Solar Inc. [FSLR] Stock trading around $211.25 per share: What’s Next?

First Solar Inc. [NASDAQ: FSLR] closed the trading session at $211.25 on 03/09/23. The day’s price range saw the stock hit a low of $210.54, while the highest price level was $218.25. The company report on February 28, 2023 that Savion Expands as Independent Power Producer, Orders 2.6 GW of Responsibly Produced Ultra-Low Carbon First Solar Modules.

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Multi-year order for Series 7 thin film solar modules with deliveries from 2025 to 2027.

Savion, LLC (Savion) today announced the agreement to purchase 2.6 gigawatts (GWdc) of high-performance, responsibly produced Series 7 thin film solar modules from First Solar, Inc. (Nasdaq: FSLR). The deal with Savion was booked prior to the release of First Solar’s Q3 2022 earnings in October 2022, and the modules are scheduled to be delivered between 2025 and 2027.

The stocks have a year to date performance of 41.03 percent and weekly performance of 6.57 percent. The stock has been moved at 56.71 percent over the last six months. The stock has performed 27.34 percent around the most recent 30 days and changed 34.15 percent over the most recent 3-months.

If compared to the average trading volume of 2.81M shares, FSLR reached to a volume of 2609479 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 $186.91 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.

UBS have made an estimate for First Solar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 03, 2023. While these analysts kept the previous recommendation, Evercore ISI raised their target price from $150 to $157. The new note on the price target was released on February 14, 2023, representing the official price target for First Solar Inc. stock. Previously, the target price had yet another drop from $196 to $195, while BofA Securities kept a Neutral rating on FSLR stock. On January 06, 2023, analysts increased their price target for FSLR shares from 146 to 188.

The Average True Range (ATR) for First Solar Inc. is set at 8.01, with the Price to Sales ratio for FSLR stock in the period of the last 12 months amounting to 8.11. The Price to Book ratio for the last quarter was 3.86, with the Price to Cash per share for the same quarter was set at 25.63.

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 6.57. With this latest performance, FSLR shares gained by 27.34% in over the last four-week period, additionally plugging by 56.71% over the last 6 months – not to mention a rise of 165.66% 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 73.32, with the RSI for the last a single of trading hit 78.15, and the three-weeks RSI is set at 69.33 for First Solar Inc. [FSLR]. The present Moving Average for the last 50 days of trading for this stock 171.59, while it was recorded at 212.46 for the last single week of trading, and 130.13 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 -7.93 and a Gross Margin at +2.67. First Solar Inc.’s Net Margin is presently recorded at -1.69.

Return on Equity for this stock declined to -0.75, with Return on Assets sitting at -0.56.

First Solar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.70.

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 5.64%.

First Solar Inc. [FSLR]: Insider Ownership positions

There are presently around $18,253 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 13,347,930, which is approximately -13.21% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 11,570,363 shares of the stock with an approximate value of $2.44 billion in FSLR stocks shares; and STATE STREET CORP, currently with $863.49 million in FSLR stock with ownership of nearly 31.658% of the company’s market capitalization.

Positions in First Solar Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 360 institutional holders increased their position in First Solar Inc. [NASDAQ:FSLR] by around 17,083,783 shares. Additionally, 278 investors decreased positions by around 14,513,080 shares, while 95 investors held positions by with 54,806,679 shares. The mentioned changes placed institutional holdings at 86,403,542 shares, according to the latest SEC report filing. FSLR stock had 164 new institutional investments in for a total of 5,207,135 shares, while 59 institutional investors sold positions of 1,242,063 shares during the same period.


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