First Solar, Inc.’s Stock Price Dips to $220.40, Marks a Decrease of 2.80%

First Solar, Inc. (FSLR)

220.40 USD -6.34 (-2.80%) Volume: 1.91M

First Solar, Inc.’s stock price is currently standing at 220.40 USD, witnessing a dip of -2.80% this trading session, with a trading volume of 1.91M. Despite the recent drop, FSLR stock has seen a positive YTD performance, boasting an impressive +27.93% increase, showcasing its robust market presence in the renewable energy sector.

Latest developments on First Solar, Inc.

First Solar Inc. (NASDAQ:FSLR) experienced a 3.8% increase in trading today as the company continues its search for a breakthrough to reduce China’s dominance in clean energy. This comes after Shell Asset Management Co. sold 506 shares of First Solar, Inc., while American International Group Inc. holds a $4.72 million stock position in the company. The US tariff on Chinese solar panels has been seen as a move to create a ‘level playing field,’ according to First Solar’s CEO, impacting the stock price movements of the company.

First Solar, Inc. on Smartkarma

Analyst coverage on First Solar Inc by Baptista Research on Smartkarma shows a bullish sentiment towards the company’s expansion of production capacity and its expected impact on the top-line. Examining the company’s first quarter financial results in 2024, they reported strong operating performance with year-to-date bookings of 2.7 gigawatts. First Solar remains focused on their long-term goal to be more competitive by 2030, planning to increase production of Series 7 modules and expand manufacturing facilities to drive growth and financial performance.

Baptista Research also highlights First Solar’s expansion into the Indian market as a potential game changer for the company. In 2023, the leading solar module manufacturer saw significant growth with expanded manufacturing capacity, record module production, and increased investments in R&D. With 10 new customers added and 28.3 gigawatts of net bookings secured, First Solar’s contracted backlog reached historic levels. Maintaining a balanced business model focusing on growth, profitability, and liquidity, the company continues to be oversold through 2026. Baptista Research evaluates various factors that could influence the company’s stock price in the near future, using a Discounted Cash Flow methodology for an independent valuation.

A look at First Solar, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

First Solar Inc, a company that designs and manufactures solar modules, shows a promising long-term outlook based on its Smartkarma Smart Scores. With high scores in Growth, Resilience, and Momentum, the company seems well-positioned for future success. Its strong momentum indicates a positive trend in the market, while its resilience and growth potential suggest stability and expansion opportunities.

Although First Solar Inc‘s Value and Dividend scores are not as high as its other scores, the overall outlook for the company appears favorable. With a focus on innovative technology and a commitment to producing electricity-producing solar modules, First Solar Inc is poised to continue making strides in the renewable energy sector.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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