First Solar Inc (NASDAQ: FSLR) – Not A Clear Buying Opportunity?

First Solar Inc (FSLR) concluded trading on Wednesday at a closing price of $178.01, with 3.34 million shares of worth about $594.09 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 17.66% during that period and on April 17, 2024 the price saw a gain of about 2.85%. Currently the company’s common shares owned by public are about 106.85M shares, out of which, 100.26M shares are available for trading.

However, the stock later moved at a day high price of 187.87, or with a gain of 2.85%. Stock saw a price change of -3.93% in past 5 days and over the past one month there was a price change of 19.09%. Year-to-date (YTD), FSLR shares are showing a performance of 3.33% which decreased to -18.68% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $129.21 but also hit the highest price of $232.00 during that period. The average intraday trading volume for First Solar Inc shares is 2.13 million. The stock is currently trading 5.78% above its 20-day simple moving average (SMA20), while that difference is up 12.17% for SMA50 and it goes to 7.64% higher than SMA200.

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First Solar Inc (NASDAQ: FSLR) currently have 106.85M outstanding shares and institutions hold larger chunk of about 89.23% of that.

The stock has a current market capitalization of $19.05B and its 3Y-monthly beta is at 1.38. PE ratio of stock for trailing 12 months is 23.03, while it has posted earnings per share of $7.73 in the same period. It has Quick Ratio of 2.92 while making debt-to-equity ratio of 0.09. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FSLR, volatility over the week remained 4.15% while standing at 3.86% over the month.

Stock’s fiscal year EPS is expected to rise by 74.98% while it is estimated to increase by 53.52% in next year.

Coverage by Janney stated First Solar Inc (FSLR) stock as a Buy in their note to investors on April 12, 2024, suggesting a price target of $236 for the stock. On February 14, 2024, RBC Capital Mkts Initiated their recommendations, while on January 08, 2024, Wells Fargo Downgrade their ratings for the stock with a price target of $187. Stock get a Buy rating from Jefferies on December 15, 2023.

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