The stock of First Solar Inc (NASDAQ: FSLR) has increased by 1.89 when compared to last closing price of 216.43.Despite this, the company has seen a gain of 3.32% in its stock price over the last five trading days. barrons.com reported 2024-07-22 that Hit by high interest rates, low power prices and uncertainty around the U.S. election, solar stocks are facing a tough quarter.
Is It Worth Investing in First Solar Inc (NASDAQ: FSLR) Right Now?
The price-to-earnings ratio for First Solar Inc (NASDAQ: FSLR) is 23.12x, which is above its average ratio. Moreover, the 36-month beta value for FSLR is 1.44. Analysts have varying opinions on the stock, with 6 analysts rating it as a “buy,” 3 as “overweight,” 8 as “hold,” and 0 as “sell.”
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The public float for FSLR is 101.05M and currently, short sellers hold a 4.80% of that float. On July 22, 2024, FSLR’s average trading volume was 3.07M shares.
FSLR’s Market Performance
FSLR’s stock has seen a 3.32% increase for the week, with a -15.21% drop in the past month and a 25.98% gain in the past quarter. The volatility ratio for the week is 4.53%, and the volatility levels for the past 30 days are at 4.69% for First Solar Inc. The simple moving average for the past 20 days is -4.40% for FSLR’s stock, with a 23.52% simple moving average for the past 200 days.
Analysts’ Opinion of FSLR
Many brokerage firms have already submitted their reports for FSLR stocks, with Deutsche Bank repeating the rating for FSLR by listing it as a “Buy.” The predicted price for FSLR in the upcoming period, according to Deutsche Bank is $280 based on the research report published on June 28, 2024 of the current year 2024.
Mizuho gave a rating of “Neutral” to FSLR, setting the target price at $274 in the report published on May 30th of the current year.
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 -28.12% of loss for the given period.
Volatility was left at 4.69%, however, over the last 30 days, the volatility rate increased by 4.53%, as shares sank -14.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.16% upper at present.
During the last 5 trading sessions, FSLR rose by +3.80%, which changed the moving average for the period of 200-days by +46.47% in comparison to the 20-day moving average, which settled at $228.80. In addition, First Solar Inc saw 28.00% 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 Verma Kuntal Kumar, who sale 1,621 shares at the price of $260.00 back on Jun 20 ’24. After this action, Verma Kuntal Kumar now owns 3,549 shares of First Solar Inc, valued at $421,460 using the latest closing price.
Widmar Mark R, the Chief Executive Officer of First Solar Inc, sale 36,692 shares at $273.26 during a trade that took place back on Jun 03 ’24, which means that Widmar Mark R is holding 81,861 shares at $10,026,456 based on the most recent closing price.
Stock Fundamentals for FSLR
Current profitability levels for the company are sitting at:
- 0.31 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 16.05, with 10.61 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 1.44. The debt to equity ratio resting at 0.09. The interest coverage ratio of the stock is 51.13.
Currently, EBITDA for the company is 1.26 billion with net debt to EBITDA at -0.68. When we switch over and look at the enterprise to sales, we see a ratio of 6.3. The receivables turnover for the company is 3.71for 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 2.41.
Conclusion
To wrap up, the performance of First Solar Inc (FSLR) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
