First Solar Inc. Reaches New 12-Month High at $59.80 (FSLR)
First Solar (NASDAQ:FSLR)’s share price reached a new 52-week high on Friday, Analyst Ratings.Net reports. The company traded as high as $59.80 and last traded at $58.47, with a volume of 24,174,419 shares traded. The stock had previously closed at $50.31.
A number of research firms have recently commented on FSLR. Analysts at S&P Equity Research upgraded shares of First Solar to a “buy” rating in a research note to investors on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of First Solar in a research note to investors on Friday. They now have a $53.00 price target on the stock. Finally, analysts at Needham & Company reiterated a “hold” rating on shares of First Solar in a research note to investors on Friday. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.36.
First Solar has a 52 week low of $18.30 and a 52 week high of $59.00. The stock has a 50-day moving average of $44.46 and a 200-day moving average of $44.92. The company has a market cap of $5.779 billion and a P/E ratio of 13.33. First Solar also was the recipient of unusually large options trading on Thursday. Traders acquired 56,687 call options on the stock. This represents an increase of 204% compared to the typical volume of 18,662 call options.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.96 by $1.32. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $988.63 million. During the same quarter last year, the company posted $1.27 earnings per share. First Solar’s revenue was up 50.8% compared to the same quarter last year. On average, analysts predict that First Solar will post $3.77 earnings per share for the current fiscal year.
First Solar, Inc manufactures and sells photovoltaic (NASDAQ:FSLR) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems.
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