In yesterday’s Wall Street session, First Solar Inc. (NASDAQ:FSLR) shares traded at $198.80, up 0.70% from the previous session.
As of this writing, 30 analysts cover First Solar Inc. (NASDAQ:FSLR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $334.00 and a low of $157.56, we find $220.00. Given the previous closing price of $197.41, this indicates a potential upside of 11.44 percent. FSLR stock price is now 1.46% away from the 50-day moving average and 11.37% away from the 200-day moving average. The market capitalization of the company currently stands at $21.30B.
There are 14 analysts who have given it a hold rating, whereas 11 have given it a buy rating. Brokers who have rated the stock have averaged $223.36 as their price target over the next twelve months.
In other news, Widmar Mark R, Chief Executive Officer sold 2,160 shares of the company’s stock on Jul 18. The stock was sold for $453,600 at an average price of $210.00. Upon completion of the transaction, the Chief Executive Officer now directly owns 84,021 shares in the company, valued at $16.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 17, Chief Executive Officer Widmar Mark R sold 3,982 shares of the business’s stock. A total of $816,310 was realized by selling the stock at an average price of $205.00. This leaves the insider owning 86,181 shares of the company worth $17.13 million. Insiders disposed of 269,620 shares of company stock worth roughly $53.6 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FSLR stock. A new stake in First Solar Inc. shares was purchased by SAMLYN CAPITAL, LLC during the first quarter worth $111,103,000. TWO SIGMA INVESTMENTS, LP invested $82,745,000 in shares of FSLR during the first quarter. In the first quarter, SOUTHPOINT CAPITAL ADVISORS LP acquired a new stake in First Solar Inc. valued at approximately $29,820,000. TWO SIGMA ADVISERS, LP acquired a new stake in FSLR for approximately $15,888,000. AVALON TRUST CO purchased a new stake in FSLR valued at around $14,606,000 in the second quarter. In total, there are 1,104 active investors with 83.10% ownership of the company’s stock.
Thursday morning saw First Solar Inc. (NASDAQ: FSLR) opened at $199.50. During the past 12 months, First Solar Inc. has had a low of $74.18 and a high of $232.00. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.10, and a quick ratio of 2.40. According to the stock market information, the enterprise value for the company is $19.33B, which is based on a 515.03 price-to-earnings ratio, a 91.32 price-to-earnings-growth ratio, and a beta of 1.37. The fifty day moving average price for FSLR is $195.48 and a two-hundred day moving average price translates $178.86 for the stock.
The latest earnings results from First Solar Inc. (NASDAQ: FSLR) was released for Mar, 2023. According to the Solar Company, earnings per share came in at $0.4, missing analysts’ expectations of $1.02 by -0.62. This compares to -$0.41 EPS in the same period last year. The net profit margin was 1.50% and return on equity was 0.70% for FSLR. The company reported revenue of $548.29 million for the quarter, compared to $367.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 49.38 percent. For the current quarter, analysts expect FSLR to generate $720.55M in revenue.
First Solar Inc.(FSLR) Company Profile
First Solar, Inc. provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.
