In yesterday’s Wall Street session, First Solar Inc (NASDAQ:FSLR) shares traded at $145.35, down -4.26% from the previous session.
As of this writing, 29 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 $330.00 and a low of $200.00, we find $239.00. Given the previous closing price of $151.82, this indicates a potential upside of 57.42 percent. FSLR stock price is now -20.12% away from the 50-day moving average and -22.18% away from the 200-day moving average. The market capitalization of the company currently stands at $15.53B.
There are 11 analysts who have given it a hold rating, whereas 15 have given it a buy rating. Brokers who have rated the stock have averaged $249.39 as their price target over the next twelve months.
With the price target maintained at $237, BMO Capital Markets recently Upgraded its rating from Market Perform to Outperform for First Solar Inc (NASDAQ: FSLR).
In other news, Bradley Alexander R., Chief Financial Officer sold 5,000 shares of the company’s stock on Oct 02. The stock was sold for $791,145 at an average price of $158.23. Upon completion of the transaction, the Chief Financial Officer now directly owns 30,419 shares in the company, valued at $4.42 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 01, Chief Financial Officer Bradley Alexander R. sold 5,500 shares of the business’s stock. A total of $1,024,199 was realized by selling the stock at an average price of $186.22. This leaves the insider owning 35,419 shares of the company worth $5.15 million. Insiders disposed of 254,142 shares of company stock worth roughly $36.94 million over the past 1 year. A total of 5.32% 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 QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $44,235,000. HILL CITY CAPITAL, LP invested $31,977,000 in shares of FSLR during the first quarter. In the first quarter, CLEAR STREET LLC acquired a new stake in First Solar Inc valued at approximately $26,861,000. UNISUPER MANAGEMENT PTY LTD acquired a new stake in FSLR for approximately $23,811,000. CAPITAL FUND MANAGEMENT S.A. purchased a new stake in FSLR valued at around $16,316,000 in the second quarter. In total, there are 1,104 active investors with 86.32% ownership of the company’s stock.
Thursday morning saw First Solar Inc (NASDAQ: FSLR) opened at $152.22. During the past 12 months, First Solar Inc has had a low of $115.66 and a high of $232.00. As of last week, the company has a debt-to-equity ratio of 0.08, a current ratio of 3.36, and a quick ratio of 2.66. According to the stock market information, the enterprise value for the company is $14.82B, which is based on a 99.88 price-to-earnings ratio, a 17.71 price-to-earnings-growth ratio, and a beta of 1.40. The fifty day moving average price for FSLR is $180.93 and a two-hundred day moving average price translates $186.72 for the stock.
The latest earnings results from First Solar Inc (NASDAQ: FSLR) was released for Jun, 2023. According to the Solar Company, earnings per share came in at $1.59, beating analysts’ expectations of $0.96 by 0.63. This compares to $0.52 EPS in the same period last year. The net profit margin was 5.23% and return on equity was 2.62% for FSLR. The company reported revenue of $810.67 million for the quarter, compared to $620.96 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30.55 percent. For the current quarter, analysts expect FSLR to generate $907.01M 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.
