In the last trading session, 1,585,269 First Solar, Inc.(NASDAQ:FSLR) shares changed hands as the company’s beta touched 1.27. With the company’s per share price at $98.92 changed hands at -$1.42 or -0.01% during last session, the market valuation stood at $10.48 Billion. FSLR’s last price was a discount, traded about -10.28% off its 52-week high of $109.09. The share price had its 52-week low at $28.47, which suggests the last value was 71.22% up since then. When we look at First Solar, Inc.’s average trading volume, we note the 10-day average is 2.53 Million shares, with the 3-month average coming to 3.13 Million.

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Analysts gave the First Solar, Inc. (FSLR) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2.7. If we narrow down to specifics, the data shows that 6 out of 18 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 5 recommended FSLR as a Hold, 6 felt it is a Buy and none rated the stock as Underweight. First Solar, Inc.’s EPS for the current quarter is expected to be $1.2.

Although FSLR has turned red as seen at the end of in last trading. With action -1.42%, the performance over the past five days has been red. The jump to weekly highs of $108.5 on Monday, Dec 28 added 8.85% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.77%, with the 5-day performance at -0.03% in the red. However, in the 30-day time frame, First Solar, Inc. (NASDAQ:FSLR) is 0.06% up. Looking at the short shares, we see there were 7.66 Million shares sold at short interest cover period of 2.45 days.

The consensus price target for the stock as assigned by Wall Street analysts is $88.39, meaning bulls need a downside of -10.64% from its current market value. According to analyst projections, FSLR’s forecast low is $38.4 with $125 as the target high. To hit the forecast high, the stock’s price needs a +26.36% upsurge from its current level, while the stock would need to tank -61.18% 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 +98.32% over the past 6 months, a 164.86% in annual growth rate that is considerably higher than the industry average of 11.8%. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for First Solar, Inc. will drop -40.6%, while the growth in revenue is estimated to hit -16.5% for the next quarter. Year-over-year growth is forecast to reach -7.7% down from the last financial year.

Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $726.46 Million. 11 analysts are of the opinion that First Solar, Inc.’s revenue for the quarter ending March 01, 2021 will be $670.66 Million. The company’s revenue for the corresponding quarters a year ago was $1.4 Billion and $532.12 Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -48.1%. The estimates for the next quarter sales put growth at 26%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -17.9%. The 2021 estimates are for First Solar, Inc. earnings to decrease by -186.5%, but the outlook for the next 5-year period is at 25.95% per year.

First Solar, Inc. (NASDAQ:FSLR)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 11.95% of First Solar, Inc. shares while 75.57% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.83%. There are 680 institutions holding the First Solar, Inc. stock share, with Blackrock Inc. the top institutional holder. As of Sep 29, 2020, the company held 9.92% of the shares, roughly 10.52 Million FSLR shares worth $696.21 Million.

Wellington Management Company, LLP holds the second largest percentage of outstanding shares, with 9.27% or 9.83 Million shares worth $650.42 Million as of Sep 29, 2020.

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Among Mutual Funds, the top two as of Oct 30, 2020 were Hartford Mid Cap Fund and Vanguard Total Stock Market Index Fund. With 2735257 shares estimated at $238.09 Million under it, the former controlled 2.58% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.25% of the shares, roughly 2.38 Million shares worth around $157.86 Million.


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