First Solar, Inc.’s Stock Price Skyrockets to $294.53, Marking a Robust 5.26% Uptick

First Solar, Inc. (FSLR)

294.53 USD +14.73 (+5.26%) Volume: 4.1M

First Solar, Inc.’s stock price has surged to $294.53 with a significant trading session gain of +5.26%, as boosted by a substantial trading volume of 4.1M. This performance underscores a robust year-to-date growth of +70.96%, reflecting the company’s strong market standing and investor confidence.

Latest developments on First Solar, Inc.

First Solar Inc. (NASDAQ:FSLR) saw a surge in its stock price today after Baird raised its target, citing strong market positioning. BMO also raised the stock price target to $311, noting top performance in May. This comes as the company achieves the EPEAT Climate+ label for its low-carbon modules and continues to attract investor interest, with Symmetry Investments LP investing $829,000. Despite some selling activity, including by Crossmark Global Holdings Inc. and Public Employees Retirement Association of Colorado, there is growing confidence in First Solar’s sustainability efforts, such as the recent solar-powered tea factory in the UK. With increased options volume and investments from institutions like Northern Trust Corp and Cibc World Markets Corp, the future looks bright for First Solar.

First Solar, Inc. on Smartkarma

Analysts at Baptista Research have been closely following First Solar Inc, a leading solar module manufacturer. In their report titled “First Solar Inc.: 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 and a focus on long-term competitiveness by 2030, First Solar is planning to increase production of Series 7 modules and expand manufacturing facilities to drive growth and financial performance.

Another report by Baptista Research, “First Solar Inc: Can The Expansion Into The Indian Market Be A Game Changer? – Major Drivers,” discussed the company’s significant achievements in 2023, including expanded manufacturing capacity, record module production, and increased investments in R&D. With a balanced business model focusing on growth, profitability, and liquidity, First Solar has secured a strong backlog through 2026. The analysts are evaluating various factors that could impact the company’s stock price in the near future, using a Discounted Cash Flow methodology for 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 has a promising long-term outlook according to Smartkarma Smart Scores. With high scores in Growth, Resilience, and Momentum, the company is positioned well for future success. Its innovative approach to solar module design and manufacturing using thin film semiconductor technology sets it apart in the industry.

Although First Solar Inc may not offer a high dividend, its strong performance in areas such as Growth and Momentum indicate potential for continued success and expansion. Investors looking for a company with a solid foundation and promising future prospects may find First Solar Inc to be a compelling choice based on its overall Smartkarma Smart Scores.

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