Streetbeat News

FSLR

First Solar, Inc.

https://www.firstsolar.com

Industry

Solar

First Solar, Inc. provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.

Open

194.59

Mkt cap

20B

Volume

4.1M

High

203.92

P/E Ratio

16.40

52-wk high

306.77

Low

190.13

Div yield

N/A

52-wk low

135.88

Wells Fargo analyst Michael Blum has downgraded First Solar (NASDAQ:FSLR) from Overweight to Equal-Weight and reduced the price target from $215 to $187.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:02 pm

First Solar Inc (NASDAQ:FSLR) has signed a 15-year Power Purchase Agreement with Cleantech Solar to supply clean electricity to its new solar manufacturing facility in Tamil Nadu, India. Cleantech Solar will construct 150 MW of solar and 16.8 MW of wind assets, expected to be commissioned by Q3 2024, and will meet 70% of the facility's needs. The agreement includes the purchase of 150 MW of Series 7 solar panels from First Solar, with delivery in the first half of 2024. The initiative will help displace about 7,000 kilotons of CO2 emissions.

Portfolio Pulse from Shivani Kumaresan

January 04, 2024 | 5:19 pm

First Solar, Inc. has signed a 15-year Power Purchase Agreement (PPA) with Cleantech Solar, a leading provider of renewable energy solutions in India and Southeast Asia. This agreement will enable First Solar to supply solar power to Cleantech Solar's customers in the region, reinforcing First Solar's presence and commitment to the renewable energy market in Asia.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:04 am

First Solar (NASDAQ:FSLR) has received mixed analyst ratings over the past three months, with a total of 4 bullish, 6 somewhat bullish, and 2 indifferent ratings. The average 12-month price target is $217.75, down from the previous $225.89. Analysts from firms like Mizuho, Jefferies, and Morgan Stanley have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. First Solar is a leading thin-film solar module manufacturer with strong revenue growth and net margin but lagging ROE and ROA compared to industry averages. The company's debt-to-equity ratio is low at 0.09.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 9:01 pm

Mizuho analyst Maheep Mandloi has reaffirmed a Buy rating on First Solar (NASDAQ:FSLR) and increased the price target from $188 to $196, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 8:09 pm

Semiconductor and chip stocks are trading lower due to an increase in Treasury yields and ongoing weakness after their gains earlier in 2023.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 5:00 pm

First Solar (NYSE:FSLR) has seen a 5.84% rise in short interest since its last report, with 4.42 million shares sold short, representing 5.44% of its float. The short interest is higher than the peer group average of 3.57%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Traders would need approximately 1.38 days to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

January 01, 2024 | 6:30 pm

First Solar, Inc. (FSLR) has entered into agreements to sell up to $700 million in 2023 IRA Advanced Manufacturing Production tax credits to Fiserv, Inc. The deal, facilitated by Citigroup Global Markets, Inc. as the placement agent, is at a rate of $0.96 per $1 of tax credits. This transaction, a first in the solar industry, is expected to enhance First Solar's cash position and balance sheet, allowing for further investment in growth and innovation. The tax credits are derived from the sale of PV solar modules produced by First Solar's US manufacturing facilities. The company plans to invest over $2 billion in new manufacturing facilities and expects to have 14 gigawatts of US solar manufacturing capacity by 2026.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:01 pm

Goldman Sachs downgraded SunPower Corp (SPWR) to Sell with a price target of $4 due to doubts about its ability to continue operations, causing its shares to drop 35%. Despite this, Goldman Sachs remains positive on the solar sector, upgrading Sunnova Energy (NOVA) to Buy and Canadian Solar (CSIQ) to Neutral. Enphase Energy (ENPH) retains a Buy rating with a significant upside potential, while SolarEdge Technologies (SEDG) was downgraded to Sell. Sunrun (RUN) and First Solar (FSLR) maintained their Buy ratings, but their shares fell. The Invesco Solar ETF (TAN) is down around 35% this year.

Portfolio Pulse from Neil Dennis

December 18, 2023 | 8:33 pm

U.S. stocks have seen their seventh consecutive week of gains, with the Nasdaq 100 nearing all-time highs and the Dow Jones reaching new highs but in an overbought condition. Small-cap stocks saw a decline but are still on a winning streak. The dollar rose, influenced by comments from the New York Federal Reserve, while gold and Bitcoin fell. Sector-wise, real estate fell after a previous rally, while technology gained. Solar stocks and regional banks saw mixed results. Notable stock movements included First Solar, Steel Dynamics, Costco, Exelon, and Boeing, driven by analyst ratings and earnings reports.

Portfolio Pulse from Piero Cingari

December 15, 2023 | 7:04 pm

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