Solar stock FSLR dips 3.1% in NASDAQ trading today.

By Oliver Townsend Jun 19, 2024
First Solar (NASDAQ:FSLR) Trading Down 3.1%.jpegOrginal image from: https://www.defenseworld.net/2024/06/19/first-solar-nasdaqfslr-trading-down-3-1.html

First Solar, Inc. (NASDAQ:FSLR) recently experienced a 3.1% decrease in its share price, causing a stir in the market. This decline saw the company’s shares drop to $264.30, with the last trading price at $265.18. With approximately 587,388 shares traded during mid-day trading, this marked a 76% decrease from the average daily volume. Analysts have been closely monitoring FSLR’s performance, with various price target adjustments and ratings being issued.

Analyst Insights and Ratings

The Goldman Sachs Group raised the price target for First Solar from $268.00 to $302.00, giving the stock a “buy” rating. Piper Sandler also increased their price objective to $219.00 with an “overweight” rating. However, DZ Bank downgraded the stock from a “buy” to a “hold” rating with a $270.00 price target. Analysts at Robert W. Baird and Mizuho also provided their insights, emphasizing the stock’s performance and potential.

First Solar’s Financial Performance

First Solar boasts a market cap of $28.08 billion, with a price-to-earnings ratio of 27.50 and a beta of 1.48. The company’s 50-day simple moving average stands at $219.14, while the 200-day average is $178.86. In its most recent quarterly earnings report, First Solar exceeded expectations with $2.20 earnings per share and revenue of $794.10 million. Analysts predict a positive EPS of 13.59 for the current year.

Insider Transactions and Institutional Investments

Notable insider transactions have occurred at First Solar, including CFO Alexander R. Bradley selling shares and Director Richard D. Chapman selling stock. Institutional investors have also shown interest, with Kestra Advisory Services LLC and other firms increasing their stakes in First Solar. These transactions and investments provide valuable insights into the company’s performance and potential.

About First Solar

First Solar, Inc. is a leading solar technology company offering PV solar energy solutions globally. With a focus on photovoltaic solar modules using semiconductor technology, First Solar provides eco-friendly alternatives to traditional solar modules. The company’s innovative approach and sustainable solutions position it as a key player in the renewable energy sector.

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