First Solar Inc. (NASDAQ:FSLR) finished Thursday with a subtraction of -$2.28 to close at $129.49, a downside of -1.73 percent. An average of 2,187,279 shares of common stock have been traded in the last five days. There was a fall of -$5.14 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 3,406,030 shares traded, while the 50-day average volume stands at 3,084,034.
FSLR stock has increased by 15.16% in the last month. The company shares reached their 1-month lowest point of $113.80 on 08/24/22. With the stock rallying to its 52-week high on 09/21/22, shares of the company touched a low of $59.60 and a high of $140.64 in 52 weeks. It has reached a new high 17 times so far this year and achieved 51.18% or $43.51 in price. In spite of this, the price is down -7.93% from the 52-week high.
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8 days have passed since First Solar Inc. (FSLR) last reported insider trading activity. KENNEDY R CRAIG, who is Director, most recently acquired $600 shares at $134.62 per share on Sep 15. In this transaction, the insider spent $80,772. Chief Technology Officer, Gloeckler Markus, disposed of 465 shares at a price of $118.74 on Aug 18. The insider now owns more than $55,214 worth of shares. Prior to that, Chief Technology Officer Gloeckler Markus went on to Sale 478 shares at $115.14 each on Aug 17. An amount of $55,037 was transacted.
First Solar Inc. (FSLR) has a trailing price-to-earnings (P/E) ratio of 74.66. The stock’s beta is 1.37. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.51, the price-to-book (PB) ratio at 2.38.
The quick ratio of First Solar Inc. for the three months ended June 29 was 3.20, and the current ratio was 4.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.03 and a total debt to equity ratio of 0.03 for the quarter ending June 29. Its gross profit as reported stood at $729.95 million compared to revenue of $2.92 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, First Solar Inc.’s return on assets was 2.60%.
For the three-month period that ended June 29, First Solar Inc. had $143.94 million in cash and short-term investments compared to $170.02 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $55.81 million in the quarter, while revenues of -$43.26 million were shrunk -47.73%. The analyst consensus anticipated First Solar Inc.’s latest quarter earnings to come in at -$0.09 per share, but it turned out to be $0.52, a 677.80% surprise. For the quarter, EBITDA amounted to $211.38 million. Shareholders own equity worth $106.59 million.
From a technical analysis perspective, let’s take a brief look at First Solar Inc. (FSLR) price momentum. RSI 9-day as of the close on 22 September was 49.15%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.60%.
As of today, FSLR’s price is $133.67 -3.78% or -$5.14 from its 5-day moving average. FSLR is currently trading +7.38% higher than its 20-day SMA and +77.44% higher than its 100-day SMA. However, the stock’s current price level is +83.94% above the SMA50 and +29.12% above the SMA200.
The stochastic %K and %D were 52.05% and 60.44%, respectively, and the average true range (ATR) was 5.72. With the 14-day stochastic at 39.46% and the average true range at 5.66, the RSI (14) stands at 57.66%. The stock has reached -1.63 on the 9-day MACD Oscillator while the 14-day reading was at -1.71.
Goldman upgraded First Solar Inc. (NASDAQ: FSLR) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Sell.