First Solar Inc (NASDAQ:FSLR) shares, rose in value on Friday, April 05, with the stock price up by 0.34% to the previous day’s close as strong demand from buyers drove the stock to $172.05.
Actively observing the price movement in the recent trading, the stock is buoying the session at $171.46. The value of beta (5-year monthly) is 1.40 whereas the PE ratio is 22.25 over 12-month period. Referring to stock’s 52-week performance, its high was $232.00, and the low was $129.21. On the whole, FSLR has fluctuated by 8.60% over the past month.
With the market capitalization of First Solar Inc currently standing at about $18.38 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024 – Apr 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.15, which is expected to increase to $3.64 for fiscal year $13.56 and then to about $21.34 by fiscal year 2025. Data indicates that the EPS growth is expected to be 75.20% in 2025, while the next year’s EPS growth is forecast to be 57.40%.
Analysts have estimated the company’s revenue for the quarter at $805.5 million, with a low estimate of $647.94 million and a high estimate of $1.11 billion. According to the average forecast, sales growth in current quarter could jump up 46.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $4.51 billion, representing an increase of 36.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that FSLR’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of FSLR currently trading nearly 8.43% and 12.08% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 65.81, while the 7-day volatility ratio is showing 3.68% which for the 30-day chart, stands at 3.60%. Furthermore, First Solar Inc (FSLR)’s beta value is 1.39, and its average true range (ATR) is 6.38.
A comparison of First Solar Inc (FSLR) with its peers suggests the former has fared considerably weaker in the market. FSLR showed an intraday change of 0.34% in today’s session so far, and over the past year, it shrunk by -17.34%%.
Data on historical trading for First Solar Inc (NASDAQ:FSLR) indicates that the trading volumes over the past 10 days have averaged 1.88 million and over the past 3 months, they’ve averaged 2.10 million. According to company’s latest data on outstanding shares, there are 106.85 million shares outstanding.
Nearly 6.32% of First Solar Inc’s shares belong to company insiders and institutional investors own 89.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.78 million shares as on Mar 15, 2024, resulting in a short ratio of 1.96. According to the data, the short interest in First Solar Inc (FSLR) stood at 4.47% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 4.2 million. The stock has fallen by -0.13% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the FSLR stock heading into the next quarter.
