First Solar Inc [NASDAQ: FSLR] loss -3.85% on the last trading session, reaching $132.53 price per share at the time. The company report on November 8, 2023 at 6:00 AM that Arevon Completes Financing on Nation’s First Utility-Scale Solar Peaker Project Using the IRA’s Transferability Provision.
Vikings solar-plus-storage project financing driven by Arevon’s innovative approach to combine the Inflation Reduction Act’s tax credit transferability provisions with debt in a $529 million financing package.
Arevon Energy, Inc. today announced it has closed financing on the Vikings solar-plus-storage project with a combination of debt financing and tax credit transfer. Arevon secured a commitment with J.P. Morgan to purchase $191 million of investment tax credits and production tax credits, among the nation’s first transactions announced to date that leverage the Inflation Reduction Act’s transferability provision. The additional $338 million debt facility was financed with MUFG, BNP Paribas, Sumitomo Mitsui Banking Corporation, and First Citizens Bank, who acted as Coordinating Lead Arrangers. National Bank of Canada also participated as a lender.
First Solar Inc represents 106.61 million in outstanding shares, while the company has a total market value of $14.16 billion with the latest information. FSLR stock price has been found in the range of $131.16 to $140.00.
If compared to the average trading volume of 2.15M shares, FSLR reached a trading volume of 3023467 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $239.14 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 1.73. 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.
Exane BNP Paribas have made an estimate for First Solar Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 20, 2023.
The Average True Range (ATR) for First Solar Inc is set at 7.61, with the Price to Sales ratio for FSLR stock in the period of the last 12 months amounting to 4.48. The Price to Book ratio for the last quarter was 2.25, with the Price to Cash per share for the same quarter was set at 17.14.
Trading performance analysis for FSLR stock
First Solar Inc [FSLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.20. With this latest performance, FSLR shares dropped by -12.52% in over the last four-week period, additionally sinking by -27.65% over the last 6 months – not to mention a drop of -10.01% 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 34.10, with the RSI for the last a single of trading hit 30.89, and the three-weeks RSI is set at 35.79 for First Solar Inc [FSLR]. The present Moving Average for the last 50 days of trading for this stock 158.61, while it was recorded at 142.72 for the last single week of trading, and 184.97 for the last 200 days.
First Solar Inc [FSLR]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and First Solar Inc [FSLR] shares currently have an operating margin of -5.77 and a Gross Margin at +4.82. First Solar Inc’s Net Margin is presently recorded at -1.69.
Return on Total Capital for FSLR is now -2.43, given the latest momentum, and Return on Invested Capital for the company is -0.71. Return on Equity for this stock declined to -0.75, with Return on Assets sitting at -0.56. When it comes to the capital structure of this company, First Solar Inc [FSLR] has a Total Debt to Total Equity ratio set at 4.01. Additionally, FSLR Total Debt to Total Capital is recorded at 3.86, with Total Debt to Total Assets ending up at 2.84. Long-Term Debt to Equity for the company is recorded at 3.85, with the Long-Term Debt to Total Capital now at 3.71.
Reflecting on the efficiency of the workforce at the company, First Solar Inc [FSLR] managed to generate an average of -$8,030 per employee. Receivables Turnover for the company is 6.47 with a Total Asset Turnover recorded at a value of 0.33.First Solar Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.45 and a Current Ratio set at 3.19.
First Solar Inc [FSLR]: An earnings per share (EPS) analysis
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 67.40%.
An analysis of Institutional ownership at First Solar Inc [FSLR]
The top three institutional holders of FSLR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FSLR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FSLR stock with ownership which is approximately 5.7994%.