First Solar, Inc.’s stock price drops to $213.42, showing a significant 8.50% decrease

First Solar, Inc. (FSLR)

213.42 USD -19.82 (-8.50%) Volume: 5.19M

First Solar, Inc.’s stock price stands at 213.42 USD, experiencing a drop of 8.50% this trading session with a trading volume of 5.19M. Despite the recent dip, the company’s YTD performance remains strong, boasting a percentage change of +23.88%.

Latest developments on First Solar, Inc.

First Solar Inc (NASDAQ:FSLR) has experienced a series of significant events leading up to today’s stock price movements. KCM Investment Advisors LLC has increased their position in the company, while short interest in FSLR has dropped by 13.2%. The solar industry faced a setback as solar stocks tumbled following the failed assassination attempt on Trump. Despite market uncertainties, Roth/MKM reaffirmed a Buy rating for First Solar stock. Swiss National Bank trimmed its stock position, while Forsta AP Fonden increased theirs. First Solar stock has experienced fluctuations, with shares gap down to $233.24 and trading down 7.3%. Solar stocks, including FSLR, dropped as SolarEdge announced layoffs, but Deutsche Bank still holds a positive outlook on First Solar. Despite the recent pullback, First Solar stock is trading 0.5% higher, presenting a potential opportunity for near-term alpha.

First Solar, Inc. on Smartkarma

Analysts at Baptista Research have been closely following First Solar Inc, a leading solar module manufacturer, on Smartkarma. In their report titled “Expansion of Production Capacity & Expected Impact On The Top-Line! – Major Drivers”, they highlighted the company’s strong operating performance in the first quarter of 2024. With year-to-date bookings of 2.7 gigawatts, First Solar is focused on increasing production of Series 7 modules and expanding manufacturing facilities to drive growth and improve financial performance.

Additionally, Baptista Research‘s report “Can The Expansion Into The Indian Market Be A Game Changer? – Major Drivers” delves into First Solar’s strategic move into the Indian market. The company had a successful year in 2023 with expanded manufacturing capacity, record module production, and increased R&D investments. With a balanced business model focusing on growth, profitability, and liquidity, First Solar has secured significant net bookings and remains oversold through 2026. Baptista Research evaluates various factors that could impact the company’s stock price and conducts an independent valuation using a Discounted Cash Flow methodology.

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, seems to have a positive long-term outlook based on the Smartkarma Smart Scores. With high scores in Growth, Resilience, and Momentum, the company shows promise for future expansion and sustainability. Although its Value score is moderate, indicating room for improvement in terms of stock valuation, First Solar Inc‘s overall outlook appears strong.

Utilizing the Smartkarma Smart Scores, First Solar Inc stands out with impressive scores in Growth, Resilience, and Momentum. While its Dividend score is lower, suggesting a lack of focus on dividend payments, the company’s strengths in growth potential, resilience in the face of market challenges, and positive momentum indicate a promising future ahead. With its innovative thin film semiconductor technology for solar modules, First Solar Inc is positioned to thrive 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.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma