First Solar, Inc.’s stock price soars to $279.80, marking a robust 4.66% surge

First Solar, Inc. (FSLR)

279.80 USD +12.46 (+4.66%) Volume: 3.45M

First Solar, Inc.’s stock price is currently standing at a robust 279.80 USD, marking an impressive trading session increase of +4.66%. With a substantial trading volume of 3.45M and a significant year-to-date percentage change of +62.41%, FSLR’s stock performance continues to shine in the renewable energy sector.

Latest developments on First Solar, Inc.

First Solar Inc. (NASDAQ:FSLR) has seen a surge in stock price movements recently, with key events leading up to today’s developments. BMO Capital Markets raised the stock price target to $311, citing top S&P 500 performance in May. Additionally, The Manufacturers Life Insurance Company and Northern Trust Corp increased their stock positions in First Solar, while CIBC World Markets Corp purchased shares. Tower Research Capital LLC also holds significant stock holdings in First Solar. These movements come as First Solar achieves the EPEAT Climate+ label for its low-carbon modules, further solidifying its position in the market.

First Solar, Inc. on Smartkarma

Analysts at Baptista Research have been closely monitoring First Solar Inc‘s performance and growth prospects. In a recent report titled “First Solar Inc.: Expansion of Production Capacity & Expected Impact On The Top-Line! – Major Drivers,” they highlight the company’s strong operating performance in the first quarter of 2024. With a focus on increasing production of Series 7 modules and expanding manufacturing facilities, First Solar aims to enhance growth and financial performance. The analysts remain bullish on the company’s long-term competitiveness goals, expecting positive outcomes from these strategic moves.

Another report by Baptista Research, “First Solar Inc: Can The Expansion Into The Indian Market Be A Game Changer? – Major Drivers,” delves into the company’s successful year in 2023, marked by expanded manufacturing capacity and a record volume of modules produced. With a balanced business model emphasizing growth, profitability, and liquidity, First Solar has positioned itself well for future success. The analysts at Baptista Research are optimistic about the company’s prospects and are evaluating various factors that could influence its stock price in the near future using a Discounted Cash Flow (DCF) 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 has a positive long-term outlook, with high scores in Growth, Resilience, and Momentum according to Smartkarma Smart Scores. The company is well-positioned for future growth and shows strong momentum in the market. Its focus on innovation and technology in the solar energy sector contributes to its high scores in these areas.

Although First Solar Inc scores lower in Dividend, its overall outlook remains optimistic due to its strong performance in other key factors. With a solid foundation in designing and manufacturing solar modules using thin film semiconductor technology, the company continues to lead in the renewable energy industry and is poised for continued success in the future.

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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