First Solar, Inc.’s stock price soars to $230.27, marking a bullish 5.04% increase

First Solar, Inc. (FSLR)

230.27 USD +11.04 (+5.04%) Volume: 2.36M

First Solar, Inc.’s stock price is currently standing strong at 230.27 USD, marking a positive trading session with a surge of +5.04%. With a significant trading volume of 2.36M, FSLR continues its upward trajectory, boasting a substantial Year-to-Date (YTD) percentage change of +33.66%, highlighting its robust market performance.

Latest developments on First Solar, Inc.

First Solar Inc‘s stock price is on the move today, with a share price target of $292.22 indicating a 38.0% upside potential. Recent investments by Simplicity Wealth LLC and Cwm LLC, along with increased holdings by Park Avenue Securities LLC and SG Americas Securities LLC, have contributed to the positive outlook. Additionally, Zacks Research has issued a strong FY2024 earnings forecast for the company. The upcoming launch of the First Solar Giga Factory by year-end shows that Reliance is powering ahead, further boosting investor confidence in the company’s future prospects.

First Solar, Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma have been closely following First Solar Inc‘s performance and expansion strategies. In a recent 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 external uncertainties, such as policy changes and supply conditions, First Solar Inc reported an earnings per share of $3.25 and a net cash balance of $1.2 billion, showcasing robust execution.

Furthermore, Baptista Research‘s report “First Solar Inc.: Expansion of Production Capacity & Expected Impact On The Top-Line! – Major Drivers” delves into the company’s first quarter financial results in 2024. The analysts noted First Solar’s strong operating performance and focus on increasing production capacity, particularly with the Series 7 module. By expanding manufacturing facilities and aiming for competitiveness by 2030, First Solar Inc is positioning itself for growth and improved financial performance, as outlined in the research report.

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 the Smartkarma Smart Scores. With a high score in Growth, the company is expected to experience significant expansion and development in the future. Additionally, First Solar Inc also scores well in Resilience, indicating its ability to withstand economic challenges and market fluctuations. These factors combined suggest a bright future for the company in the solar energy industry.

Although First Solar Inc does not score as well in Dividend, its strong Momentum score indicates a positive trend in the company’s performance. Furthermore, with a moderate score in Value, investors may find the company to be fairly priced. Overall, First Solar Inc‘s focus on designing and manufacturing solar modules using innovative technology positions it well for continued success 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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