First Solar, Inc.’s Stock Price Drops to $183.71, Showing a Decrease of 1.34%

First Solar, Inc. (FSLR)

183.71 USD -2.50 (-1.34%) Volume: 0.71M

First Solar, Inc.’s stock price currently stands at 183.71 USD, experiencing a slight drop of -1.34% this trading session with a trading volume of 0.71M, yet showcasing a positive year-to-date performance with a rise of +6.63%, illustrating the resilience and potential growth within the renewable energy sector.

Latest developments on First Solar, Inc.

First Solar Inc. saw a downgrade from StockNews.com to Sell, causing its stock to fall and underperform the market on Tuesday. However, analysts are advising investors to take advantage of the post-election overreaction, with a rating upgrade suggesting that First Solar is one of the best solar energy stocks to buy now. Despite Principal Financial Group Inc. lowering its stock position in First Solar, Inc., the company’s stock price movements today continue to be influenced by these key events.

First Solar, Inc. on Smartkarma

Analysts at Baptista Research have published research reports on First Solar Inc on Smartkarma, highlighting key growth catalysts and major drivers for the company. In one report titled “Expansion of Global Manufacturing Capabilities Is A Key Growth Catalyst? – Major Drivers,” the analysts discussed First Solar’s third-quarter financial results for 2024, showing a mixed performance amidst challenging market conditions and operational setbacks. The company reported a decrease in net sales to $0.9 billion, attributed to lower megawatt volume sold and a $50 million product warranty charge related to manufacturing issues. Additionally, there was a decline in cash reserves due to capital expenditure on new facilities.

In another report by Baptista Research titled “Domestic Market Expansion Through Government Incentives & Other Major Drivers,” analysts highlighted First Solar’s efforts to strengthen its business fundamentals in the second quarter of 2024. The company reported solid operating and financial results, including an earnings per share of $3.25 and a net cash balance of $1.2 billion. Despite these positive results, external uncertainties such as policy changes, supply conditions, and strategic evaluations by large multinational firms present potential risks to First Solar’s growth trajectory.

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 has a promising long-term outlook based on its Smartkarma Smart Scores. With a high score in Growth, the company is projected to experience significant expansion and development in the future. Additionally, its strong scores in Value and Resilience indicate that First Solar Inc is well-positioned to weather market fluctuations and maintain its competitive edge.

However, the company’s low score in Dividend and Momentum suggests that investors may not see immediate returns or quick price movements in the stock. Despite this, First Solar Inc‘s focus on designing and manufacturing solar modules using innovative technology positions it as a key player in the renewable energy sector, making it a solid choice for long-term investment.

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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