The stock of First Solar Inc (NASDAQ: FSLR) has increased by 0.73 when compared to last closing price of 176.30. Despite this, the company has experienced a 0.06% gain in its stock price over the last five trading sessions. Reuters reported 2024-05-01 that First Solar reported higher first-quarter profit on Wednesday compared to the same period last year, helped by resilient demand for solar energy.
Is It Worth Investing in First Solar Inc (NASDAQ: FSLR) Right Now?
The price-to-earnings ratio for First Solar Inc (NASDAQ: FSLR) is above average at 22.97x. The 36-month beta value for FSLR is also noteworthy at 1.37. There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 3 rating it as “overweight,” 8 rating it as “hold,” and 0 rating it as “sell.”
The public float for FSLR is 100.26M, and at present, short sellers hold a 4.82% of that float. The average trading volume of FSLR on May 02, 2024 was 2.15M shares.
FSLR’s Market Performance
FSLR stock saw an increase of 0.06% in the past week, with a monthly gain of 6.23% and a quarterly increase of 21.38%. The volatility ratio for the week is 3.30%, and the volatility levels for the last 30 days are 3.94% for First Solar Inc (FSLR). The simple moving average for the past 20 days is 0.04% for FSLR’s stock, with a 7.81% simple moving average for the past 200 days.
Analysts’ Opinion of FSLR
Many brokerage firms have already submitted their reports for FSLR stocks, with Evercore ISI repeating the rating for FSLR by listing it as a “Outperform.” The predicted price for FSLR in the upcoming period, according to Evercore ISI is $227 based on the research report published on April 23, 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 $250, previously predicting the price at $187. The rating they have provided for FSLR stocks is “Overweight” according to the report published on April 19th, 2024.
FSLR Trading at 8.27% 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 -23.46% of loss for the given period.
Volatility was left at 3.94%, however, over the last 30 days, the volatility rate increased by 3.30%, as shares surge +6.51% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.88% upper at present.
During the last 5 trading sessions, FSLR rose by +0.06%, which changed the moving average for the period of 200-days by -14.09% in comparison to the 20-day moving average, which settled at $178.04. In addition, First Solar Inc saw 3.08% in overturn over a single year, with a tendency to cut further gains.
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 $176.00 back on Apr 04 ’24. After this action, ANTOUN GEORGES now owns 37,412 shares of First Solar Inc, valued at $422,400 using the latest closing price.
Gloeckler Markus, the Chief Technology Officer of First Solar Inc, sale 1,937 shares at $175.00 during a trade that took place back on Apr 04 ’24, which means that Gloeckler Markus is holding 12,536 shares at $338,975 based on the most recent closing price.
Stock Fundamentals for FSLR
Current profitability levels for the company are sitting at:
- 0.3 for the present operating margin
- 0.43 for the gross margin
The net margin for First Solar Inc stands at 0.29. The total capital return value is set at 0.12. 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 0.08 points at debt to capital in total, while cash flow to debt ratio is standing at 1.46. The debt to equity ratio resting at 0.09. The interest coverage ratio of the stock is 359.96.
Currently, EBITDA for the company is 1.26 billion with net debt to EBITDA at -0.76. When we switch over and look at the enterprise to sales, we see a ratio of 5.03. The receivables turnover for the company is 5.32for trailing twelve months and the total asset turnover is 0.33. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.55.
Conclusion
In summary, First Solar Inc (FSLR) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing 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.
