First Solar Inc. [NASDAQ: FSLR] surged by $6.5 during the normal trading session on Thursday and reaching a high of $177.59 during the day while it closed the day at $177.00. The company report on September 12, 2023 at 9:00 AM that American Solar: Longroad Energy Extends Agreement with First Solar, Increases Orders by 2 GW.
Responsibly produced advanced thin film solar modules expected to be delivered between 2027 and 2029.
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First Solar, Inc. (NASDAQ: FSLR) today announced that Longroad Energy, a US-based renewable energy developer, owner, and operator, has agreed to procure an additional 2 gigawatts (GW) of advanced thin film American solar modules. The order for responsibly produced solar modules, which are expected to be delivered between 2027 and 2029, builds on an existing 3.7 GW framework agreement between the two companies and increases Longroad Energy’s total procurement of First Solar thin film modules to approximately 8 GW since 2017.
First Solar Inc. stock has also loss -1.94% of its value over the past 7 days. However, FSLR stock has declined by -8.30% in the 3 months of the year. Over the past six months meanwhile, it has lost -12.90% and gained 18.17% year-on date.
The market cap for FSLR stock reached $18.63 billion, with 106.83 million shares outstanding and 101.22 million shares in the current float. Compared to the average trading volume of 1.96M shares, FSLR reached a trading volume of 2678963 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 $246.12 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.
BMO Capital Markets have made an estimate for First Solar Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on Sep-15-23.
The Average True Range (ATR) for First Solar Inc. is set at 8.02, with the Price to Sales ratio for FSLR stock in the period of the last 12 months amounting to 6.23. The Price to Book ratio for the last quarter was 3.13, with the Price to Cash per share for the same quarter was set at 17.90.
FSLR stock trade performance evaluation
First Solar Inc. [FSLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.94. With this latest performance, FSLR shares dropped by -11.42% in over the last four-week period, additionally sinking by -12.90% over the last 6 months – not to mention a rise of 29.42% 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 42.81, with the RSI for the last a single of trading hit 42.68, and the three-weeks RSI is set at 43.53 for First Solar Inc. [FSLR]. The present Moving Average for the last 50 days of trading for this stock 191.19, while it was recorded at 178.20 for the last single week of trading, and 186.62 for the last 200 days.
First Solar Inc. [FSLR]: An insightful look at the core fundamentals
First Solar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 3.40.
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]: Institutional Ownership
The top three institutional holders of FSLR stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in FSLR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in FSLR stock with ownership which is approximately 5.7381%.
