First Solar, Inc. (FSLR) Monthly Report
Publication Date: September 22, 2024
Company Overview
First Solar, Inc. (FSLR) is a premier solar technology firm based in Tempe, Arizona, specializing in photovoltaic energy solutions domestically and internationally. Established in 1999, First Solar innovatively manufactures cadmium telluride solar modules utilizing thin-film semiconductor technology, offering a lower-carbon alternative compared to traditional silicon-based modules. The company’s operations extend beyond manufacturing; it actively engages in project development, operations and maintenance services, and the sale of photovoltaic solar power systems. Serving a diverse client base, including developers, utilities, and commercial entities, First Solar is recognized for its strength within the solar sector and is classified distinctly as a stock rather than an exchange-traded fund (ETF).
Financial Performance and Analyst Outlook
First Solar reported total revenues of approximately $3.76 billion, underscoring its strong market presence and financial stability. Analysts have proposed a strong buy recommendation for this stock, projecting a high target price of $368.00 and a mean target price of $293.51. These figures suggest significant growth potential in the rapidly expanding solar market. Currently, FSLR holds 107,047,000 shares outstanding, with a relatively low short interest of 4,326,294 shares, representing about 5.3% of the total float. This indicates a positive investor sentiment with many shares likely held by long-term investors rather than speculative traders.
Stock Performance Insights
As of the latest trading session, First Solar’s stock price is at $240.20, reflecting a solid recovery from a fifty-two week low of $129.22, while still below the fifty-two week high of $306.77. This performance indicates notable upward momentum, aligning with a fifty-day moving average of $222.15. With the target prices set significantly above the current stock value, analysts view FSLR’s prospects favorably, as evidenced by a recommendation mean score of 2.0 derived from the insights of 28 analysts. Overall, the metrics present a compelling case for potential investors looking to tap into the growth opportunities within the solar energy sector.
| Metric | Value |
|---|---|
| Market Cap | $25.7b |
| Total Debt | $621.9m |
| Total Cash | $1.7b |
| Shares Outstanding | 107.0m |
| Float Shares | 101.2m |
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