The stock of First Solar Inc. (NASDAQ:FSLR) increased by $1.44 on Tuesday to finish at $169.18, up 0.86 percent. The last five days have seen an average of 2,243,720 shares of common stock traded. 17 times new highs were reached in the current year, with a gain of $19.39. The average number of shares traded over the last 20 days was 1,970,070, while the average volume over the last 50 days totaled 2,091,214.
FSLR stock dropped -7.00% since last month. On 09/19/23, the company’s shares reached a one-month low of $166.66. The stock touched a high of $232.00 on 05/12/23, after rallying from a low of $115.66 in 52 weeks. The price of FSLR stock has risen by 12.94% or $19.39 this year, reaching a new high 17 times. Still, the stock price is down -27.08% from the 52-week high.
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Insider Transactions
FSLR stock investors should be aware that First Solar Inc. (FSLR) stock had its last reported insider trading activity 19 days ago on Sep 01. On Sep 01, Chief Financial Officer Bradley Alexander R. sold 5,500 shares at $186.22 each. This transaction resulted in the insider making $1,024,199. On Aug 21, Gloeckler Markus sold 464 shares at a price of US$182.00. After the transaction, the insider now owns 7,649 shares. Chief Commercial Officer ANTOUN GEORGES had earlier sold 12,346 shares on Aug 14 for $202.89 a share. The transaction was completed for $2,504,836.
Valuation Metrics
First Solar Inc. (FSLR) has a trailing price-to-earnings (P/E) ratio of 116.27. Beta for the stock is 1.41. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 6.15, the price-to-book (PB) ratio of 2.99.
Financial Health
For the three months ended June 29, First Solar Inc.’s quick ratio was 2.70, while its current ratio was 3.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.07, and the total debt to equity ratio is 0.07. As far as profitability goes, gross margin for the trailing twelve months is 16.90% percent. First Solar Inc.’s EBITDA margin for the year ended June 29 was 4.53%, whereas its operating margin stood at 2.40% for the same period. Based on annual data, it had gross profit of $69.86 million and revenue of $2.62 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FSLR’s return on assets (ROA) during the last 12 months has been 1.90%. There was a -1.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 2.70%.
Earnings Surprise
According to First Solar Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $810.67 million, while revenues rose by 23.4% to $548.29 million. It was predicted that First Solar Inc.’s quarterly earnings would be $1.59, but it ended up being $0.96, beating the consensus by 65.60%. EBITDA was $240.22 million for the quarter. At the end of First Solar Inc.’s most recent quarter ended June 29, its liabilities totaled 2.96 billion, while its total debt was $483.3 million. Equity owned by shareholders amounts to $106.83 million.
Technical Picture
Here’s a quick look at First Solar Inc.’s (FSLR) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 35.57%, suggesting the stock is Neutral, with a 43.36% historical volatility rate.
The stochastic %K and %D were 9.10% and 13.54% respectively, while the average true range (ATR) was 7.68. Based on the 14-day stochastic reading of 9.40%, the RSI (14) reading is 37.79%. On the 9-day MACD Oscillator, the stock is at -5.51, and the 14-day reading is at -9.07.
Analyst Ratings
In its most recent analyst report, BMO Capital Markets raised its rating on First Solar Inc. (NASDAQ: FSLR) to an Outperform. Prior to this, analysts firm rated the stock as a Market perform. Analysts have assigned First Solar Inc. (FSLR) an Overweight rating. FSLR is a stock that is recommended for selling by 0 brokerage firms, while 11 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 3 rates it overweight and 14 others recommend it as a buy.
What is FSLR’s price target for the next 12 months?
The current consensus forecast for the stock is between $206.00 and $330.00, with a median target price of $239.00. In analyzing these forecasts, the average price target given by analysts for First Solar Inc. (FSLR) is $249.10.
