Truist has recently initiated First Solar Inc (FSLR) stock to Buy rating, as announced on September 26, 2024, according to Finviz. Earlier, on August 29, 2024, William Blair had initiated the stock to Mkt Perform. Clarksons Platou also initiated Buy rating with a price target of $270. Additionally, DZ Bank raised Buy rating on August 1, 2024, with a target price of $280. Deutsche Bank analysts, in their report published on June 28, 2024, also reiterated Buy rating and set a price target of $215 for First Solar Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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First Solar Inc (FSLR) Stock Trading Recap
On Monday, First Solar Inc (FSLR) stock saw a decline, ending the day at $249.44 which represents a decrease of $-6.31 or -2.47% from the prior close of $255.75. The stock opened at $251.72 and touched a low of $247.29 during the day, reaching a high of $255.63. The volume of shares traded was 1.65 million falling short of the average volume of 2.22 million.
FSLR Stock Performance and Moving Averages
In recent trading, First Solar Inc (FSLR) stock price has shown some volatility, fluctuating 0.06% over the last five trades and 11.81% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 45.13%, and it has gained 12.00% in the previous three months. Currently, FSLR is trading at 7.52%, 10.72%, and 26.55% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, FSLR, a Technology sector stock, is trading -18.69% below its 52-week high but remains 93.04% above its 52-week low. The Average True Range (ATR) (14 days) of 10.8 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
First Solar Inc’s Profitability and Valuation Ratios
First Solar Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 35.62% and a profit margin of 31.97%, with a gross margin of 45.13%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, First Solar Inc’s market capitalization stands at $26.70 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 22.28, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 11.82. Additionally, the Price-to-Sales Ratio is 7.09, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 3.68, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 5.34% of First Solar Inc (FSLR)’s shares, while financial institutions hold 87.32%.
Notable insider trades include Buehler Patrick James, Chief Product Officer at First Solar Inc (FSLR), who sold 8619 shares on Aug 13 ’24, at $222 each, totaling $1.91 million. On Aug 12 ’24, Jeffers Byron Michael, VP – Global Controller and CAO, sold 500 shares for $220 each, amounting to $0.11 million. Additionally, on Aug 07 ’24, Jeffers Byron Michael sold 1766 shares at $216.5 each, generating $0.38 million.
