First Solar Inc. (NASDAQ:FSLR) saw a downside of -0.22% to $195.17 after subtracting -$0.43 on Tuesday. The 5-day average trading volume is 1,434,300 shares of the company’s common stock. It has gained $200.35 in the past week and touched a new high 2 times within the past 5 days. An average of 2,239,520 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,878,826.
FSLR’s 1-month performance is 2.28% or $5.99 on its low of $182.77 reached on 07/10/23. The company’s shares have touched a 52-week low of $103.51 and high of $232.00, with the stock’s rally to the 52-week high happening on 05/12/23. YTD, FSLR has achieved 30.30% or $45.34 and has reached a new high 17 times. However, the current price is down -15.88% from the 52-week high price.
Insider Transactions
FSLR stock investors last saw insider trading activity on Aug 02.Bradley Alexander R. (Chief Financial Officer) most recently sold 5,500 shares at $194.36 per share on Aug 02. This transaction cost the insider $1,068,965. Chief Executive Officer, Widmar Mark R, sold 2,160 shares at a price of $223.41 on Jul 28. Then, on Jul 18, Chief Executive Officer Widmar Mark R sold 2,160 shares at a price of $210.00 per share. This transaction amounted to $453,600.
Valuation Metrics
FSLR stock has a beta of 1.39. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 7.04 while the price-to-book (PB) in the most recent quarter is 3.45.
First Solar Inc.’s quick ratio for the period ended June 29 was 2.70, with the current ratio over the same period at 3.40. In terms of profitability, the gross margin trailing 12 months is 16.90%. The trailing 12-month EBITDA margin is 4.53% while for the period ending June 29, First Solar Inc.’s operating margin was 2.40%. The firm’s gross profit as reported stood at $69.86 million against revenue of $2.62 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, First Solar Inc.’s cash and short-term investments amounted to $1.05 billion against total debt of $483.3 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 67.28% to $170.58 million, while revenue of $42.56 million was 75.05% off the previous quarter. Analysts expected FSLR to announce $0.96 per share in earnings in its latest quarter, but it posted $1.59, representing a 65.60% surprise. EBITDA for the quarter stood at more than $240.22 million. FSLR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.96 billion, with total debt at $483.3 million. Shareholders hold equity totaling $106.83 million.
Let’s look briefly at First Solar Inc. (FSLR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 45.49% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.80%.
The stock’s 5-day moving average is $195.13, reflecting a -3.73% or -$7.55 change from its current price. FSLR is currently trading +2.91% above its 20-day SMA, -3.98% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -2.89% and SMA200 by+62.32%.
Stochastic %K and %D was 14.36% and 14.65% and the average true range (ATR) pointed at 8.43. The RSI (14) points at 48.21%, while the 14-day stochastic is at 14.63% with the period’s ATR at 8.38. The stock’s 9-day MACD Oscillator is pointing at -4.18 and -3.85 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for First Solar Inc. (NASDAQ: FSLR), BofA Securities upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for FSLR stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate FSLR as a “sell,”, while 14 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 11 have offered a “buy” rating.
What is FSLR’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $157.56 and a high of $332.00, with their median price target at $234.00. Looking at these predictions, the average price target given by analysts is for First Solar Inc. (FSLR) stock is $243.81.
