First Solar, Inc.’s Stock Price Dips to $240.66, Marks a 3.52% Decrease: Is It Time To Buy?

First Solar, Inc. (FSLR)

240.66 USD -8.78 (-3.52%) Volume: 3.04M

First Solar, Inc.’s stock price stands at 240.66 USD, experiencing a trading session drop of -3.52% with a trading volume of 3.04M, yet showcasing a significant increase with a YTD percentage change of +39.69%, reflecting its robust market performance.

Latest developments on First Solar, Inc.

First Solar, Inc. has been making headlines recently, with the announcement of their upcoming third quarter 2024 financial results scheduled for October 29, 2024. The company, known for its advanced solar panels, has been featured as one of the top climate tech companies to watch in 2024. However, despite this positive news, First Solar’s stock experienced a 5.03% drop amid a broader decline in the solar industry. The US also imposed new duties on solar imports from Southeast Asia, impacting the market. On a brighter note, First Solar inaugurated a new $1.1 billion solar manufacturing facility in Alabama, showcasing their commitment to renewable energy. With ongoing developments in the solar industry and market dynamics at play, investors are closely monitoring First Solar’s stock movements.

First Solar, Inc. on Smartkarma

Analysts on Smartkarma, such as Baptista Research, have been closely monitoring First Solar Inc‘s performance. In a report titled “First Solar Inc.: Domestic Market Expansion Through Government Incentives & Other Major Drivers,” the analysts highlighted the company’s solid operating and financial results in the second quarter of 2024. Despite facing external uncertainties like policy changes and supply conditions, First Solar reported an earnings per share of $3.25 and a net cash balance of $1.2 billion, showcasing strong execution.

Another report by Baptista Research, “First Solar Inc.: Expansion of Production Capacity & Expected Impact On The Top-Line! – Major Drivers,” examined the company’s first quarter financial results in 2024. The analysts noted that First Solar’s performance was robust, with a focus on increasing production of Series 7 modules and expanding manufacturing facilities. With a long-term goal to enhance competitiveness by 2030, First Solar remains committed to growth and improving financial performance, as highlighted by top independent analysts on Smartkarma.

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 using thin film semiconductor technology, has received mixed ratings in the Smartkarma Smart Scores. While the company scored well in Growth, Resilience, and Momentum, indicating a positive long-term outlook in these areas, its Value and Dividend scores were lower. This suggests that investors may see potential for growth and resilience in First Solar Inc, but may need to carefully consider its value and dividend offerings.

With a strong emphasis on growth, resilience, and momentum, First Solar Inc seems poised for continued success in the solar energy industry. The company’s innovative technology and focus on producing electricity-producing solar modules bode well for its future prospects. While its value and dividend scores may be lower, investors may still find First Solar Inc to be a promising investment opportunity based on its overall positive outlook in key areas.

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.
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