FSLR Stock Recent News

STOCK MOVED HIGHER THROUGHOUT THE DAY AND CLOSED NEAR THE HIGH

MONTGOMERY, Ala. & TEMPE, Ariz.--(BUSINESS WIRE)-- #AmericanSolar--First Solar, Inc. (Nasdaq: FSLR) inaugurated its new $1.1 billion fully vertically integrated thin-film solar manufacturing facility in Lawrence County, Alabama. The facility, which adds 3.5 gigawatts (GW) of fully vertically integrated nameplate solar manufacturing capacity in the United States, is expected to create over 800 new energy technology manufacturing jobs in the state. “This represents a great day for First Solar and for Lawrence Cou.

First Solar (FSLR) reachead $244.98 at the closing of the latest trading day, reflecting a -1.72% change compared to its last close.

One should refrain from buying FSLR right now considering its premium valuation. Yet, those who own it may continue to do so considering its upbeat estimates and manufacturing capacity expansion plans.

FSLR's investment thesis has been temporarily destabilized by the ongoing US elections, with the country's future renewable policy hanging in the balance. Even so, with a robust backlog through 2030 and ongoing capacity additions, we believe that it remains well positioned to weather the near-term uncertainties. This is on top of the promising global/ US trends surrounding utility-scale solar/ renewable capacity growth in H1'24, with things to accelerate over the next few years.

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Zacks.com users have recently been watching First Solar (FSLR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

First Solar stands out among solar stocks, doubling since early 2021 despite broader industry declines, supported by strong financials and favorable growth prospects. FSLR's Q2 results exceeded expectations with a GAAP EPS of $3.25 and $1 billion in revenue, maintaining robust future earnings and revenue forecasts. Political and competitive risks exist, but FSLR's technical chart shows a bullish trend, with support around $200 and a potential upside to $295.

First Solar, Inc. investors recently endured a harsh bear market as the stock topped out in June 2024. The Fed is expected to cut interest rates this week, potentially helping the stock to consolidate more constructively. First Solar's growing backlog has improved its revenue conversion clarity, although China's dominance of the solar supply chain remains a critical risk.

First Solar is a leading thin film photovoltaic solar module manufacturer with strong growth and improving margins, making it a compelling investment. The company boasts a responsible balance sheet with little debt, strong cash position, and a current ratio of 2.17, providing market flexibility. Despite competition and reliance on U.S. incentives, First Solar's technological advancements and international growth potential are promising.