First Solar Inc [NASDAQ: FSLR] jumped around 4.26 points on Wednesday, while shares priced at $149.25 at the close of the session, up 2.94%. The company report on February 27, 2024 at 4:05 PM that First Solar, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results and 2024 Guidance.
Net sales of $3.3 billion for 2023 and $1.2 billion for the fourth quarter.
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Net income per diluted share of $7.74 for 2023 and $3.25 for the fourth quarter.
Compared to the average trading volume of 2.18M shares, FSLR reached a trading volume of 8482333 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $229.06 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 1.50. 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.
RBC Capital Mkts have made an estimate for First Solar Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 14, 2024. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $215 to $187. The new note on the price target was released on January 08, 2024, representing the official price target for First Solar Inc stock. Previously, the target price had yet another raise to $211, while Jefferies analysts kept a Buy rating on FSLR stock. On December 08, 2023, analysts increased their price target for FSLR shares from 214 to 237.
The Average True Range (ATR) for First Solar Inc is set at 6.35, with the Price to Sales ratio for FSLR stock in the period of the last 12 months amounting to 4.80. The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 19.68.
How has FSLR stock performed recently?
First Solar Inc [FSLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.52. With this latest performance, FSLR shares dropped by -0.03% in over the last four-week period, additionally sinking by -15.56% over the last 6 months – not to mention a drop of -10.15% 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 48.80, with the RSI for the last a single of trading hit 50.25, and the three-weeks RSI is set at 48.20 for First Solar Inc [FSLR]. The present Moving Average for the last 50 days of trading for this stock 155.95, while it was recorded at 145.29 for the last single week of trading, and 171.01 for the last 200 days.
First Solar Inc [FSLR]: Deeper insight into the fundamentals
First Solar Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.92 and a Current Ratio set at 3.55.
Earnings analysis for First Solar Inc [FSLR]
With the latest financial reports released by the company, First Solar Inc posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 1.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -60.80%. 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.
Insider trade positions for 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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FSLR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FSLR stock with ownership which is approximately 5.8325%.
