First Solar Inc (NASDAQ: FSLR)’s stock price has plunge by -2.73relation to previous closing price of 171.87. Nevertheless, the company has seen a 8.01% surge in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-01 that Solar stocks have been negatively impacted in the recent past due to macroeconomic headwinds. Further, industry competition has impacted margins, and there are overcapacity fears in countries like China.
Is It Worth Investing in First Solar Inc (NASDAQ: FSLR) Right Now?
First Solar Inc (NASDAQ: FSLR) has a higher price-to-earnings ratio of 21.62x compared to its average ratio. FSLR has 36-month beta value of 1.40. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 3 as “overweight,” 8 as “hold,” and 0 as “sell.”
The public float for FSLR is 100.09M, and currently, short sellers hold a 4.78% ratio of that float. The average trading volume of FSLR on April 03, 2024 was 2.08M shares.
FSLR’s Market Performance
FSLR’s stock has seen a 8.01% increase for the week, with a 5.77% rise in the past month and a -2.97% fall in the past quarter. The volatility ratio for the week is 4.35%, and the volatility levels for the past 30 days are at 3.78% for First Solar Inc The simple moving average for the past 20 days is 6.40% for FSLR’s stock, with a 0.78% simple moving average for the past 200 days.
Analysts’ Opinion of FSLR
Many brokerage firms have already submitted their reports for FSLR stocks, with RBC Capital Mkts repeating the rating for FSLR by listing it as a “Outperform.” The predicted price for FSLR in the upcoming period, according to RBC Capital Mkts is $195 based on the research report published on February 14, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see FSLR reach a price target of $187, previously predicting the price at $215. The rating they have provided for FSLR stocks is “Equal Weight” according to the report published on January 08th, 2024.
Jefferies gave a rating of “Buy” to FSLR, setting the target price at $211 in the report published on December 15th of the previous year.
FSLR Trading at 9.73% from the 50-Day Moving Average
After a stumble in the market that brought FSLR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -27.94% of loss for the given period.
Volatility was left at 3.78%, however, over the last 30 days, the volatility rate increased by 4.35%, as shares surge +6.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.56% upper at present.
During the last 5 trading sessions, FSLR rose by +8.01%, which changed the moving average for the period of 200-days by -13.40% in comparison to the 20-day moving average, which settled at $157.64. In addition, First Solar Inc saw -2.97% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FSLR starting from ANTOUN GEORGES, who sale 2,400 shares at the price of $169.72 back on Apr 01 ’24. After this action, ANTOUN GEORGES now owns 39,812 shares of First Solar Inc, valued at $407,328 using the latest closing price.
ANTOUN GEORGES, the Chief Commercial Officer of First Solar Inc, sale 356 shares at $146.09 during a trade that took place back on Mar 19 ’24, which means that ANTOUN GEORGES is holding 42,212 shares at $52,008 based on the most recent closing price.
Stock Fundamentals for FSLR
Current profitability levels for the company are sitting at:
- 0.27 for the present operating margin
- 0.39 for the gross margin
The net margin for First Solar Inc stands at 0.25. The total capital return value is set at 0.1. Equity return is now at value 13.27, with 8.93 for asset returns.
Based on First Solar Inc (FSLR), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at 0.96. The debt to equity ratio resting at 0.09. The interest coverage ratio of the stock is 68.0.
Currently, EBITDA for the company is 1.26 billion with net debt to EBITDA at -1.05. When we switch over and look at the enterprise to sales, we see a ratio of 4.98. The receivables turnover for the company is 2.36for trailing twelve months and the total asset turnover is 0.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.55.
Conclusion
To put it simply, First Solar Inc (FSLR) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
