Is First Solar Inc (NASDAQ: FSLR) a smart move or a risky gamble for your portfolio?

In the last trading session, 2.09 million First Solar Inc (NASDAQ:FSLR) shares changed hands as the company’s beta touched 1.40. With the company’s per share price at $159.29 changed hands at $4.27 or 2.75% during last session, the market valuation stood at $17.02B. FSLR’s last price was a discount, traded about -45.65% off its 52-week high of $232.00. The share price had its 52-week low at $129.21, which suggests the last value was 18.88% up since then. When we look at First Solar Inc’s average trading volume, we note the 10-day average is 2.67 million shares, with the 3-month average coming to 2.24 million.

Analysts gave the First Solar Inc (FSLR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.65. If we narrow down to specifics, the data shows that 0 out of 31 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 8 recommended FSLR as a Hold, 19 felt it is a Buy and 0 rated the stock as Underweight. First Solar Inc’s EPS for the current quarter is expected to be $3.27.

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First Solar Inc (NASDAQ:FSLR) trade information

Instantly FSLR was in green as seen at the end of in last trading. With action 19.02%, the performance over the past five days has been green. The jump to weekly highs of 162.36 on Monday, 11/20/23 added 2.75% to the stock’s daily price. The company’s shares are showing year-to-date upside of 6.34%, with the 5-day performance at 19.02% in the green. However, in the 30-day time frame, First Solar Inc (NASDAQ:FSLR) is 5.65% up. Looking at the short shares, we see there were 3.98 million shares sold at short interest cover period of 1.63 days.

The consensus price target for the stock as assigned by Wall Street analysts is $235.85, meaning bulls need an upside of 32.46% from its current market value. According to analyst projections, FSLR’s forecast low is $185.00 with $326.00 as the target high. To hit the forecast high, the stock’s price needs a -104.66% plunge from its current level, while the stock would need to soar -16.14% for it to hit the projected low.

First Solar Inc (FSLR) estimates and forecasts

Data shows that the First Solar Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -21.02% over the past 6 months, a 1,990.24% in annual growth rate that is considerably higher than the industry average of 22.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for First Solar Inc will rise 4,771.40%, while the growth in revenue is estimated to hit 522.50% for the next quarter. Year-over-year growth is forecast to reach 33.00% up from the last financial year.

Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of $1.32 billion. 11 analysts are of the opinion that First Solar Inc’s revenue for the quarter ending Mar 2024 will be $927.55 million. The company’s revenue for the corresponding quarters a year ago was $1 billion and $548.29 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 32.00%. The estimates for the next quarter sales put growth at 69.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 23.58%. The 2023 estimates are for First Solar Inc earnings to increase by 1984.29%.

FSLR Dividends

First Solar Inc is expected to release its next quarterly earnings report on October 31.

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