• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, June 6, 2023
TheGreatNews.com
  • Home
  • MINDSET
  • WELL BEING
  • POSITIVE NEWS
  • WISDOM
  • PURPOSE
  • NEW TECHNOLOGIES
  • More Topics
    • ENTREPRENEUR
    • GREEN ENERGIES
    • SUCCESS
    • GOOD LIFE
No Result
View All Result
  • Home
  • MINDSET
  • WELL BEING
  • POSITIVE NEWS
  • WISDOM
  • PURPOSE
  • NEW TECHNOLOGIES
  • More Topics
    • ENTREPRENEUR
    • GREEN ENERGIES
    • SUCCESS
    • GOOD LIFE
No Result
View All Result
TheGreatNews.com
No Result
View All Result

First Solar Stock is Ready to Shine

in ENTREPRENEUR
Reading Time: 3 mins read
A A
First Solar Stock is Ready to Shine
Share Share Share Share Share

Related articles

Understanding FFIEC 051: What You Need To Know

Crafting Memorable Customer Experiences: Insights From A Customer Experience Strategy Consultant

Solar energy solutions provider First Solar (NASDAQ: FSLR) stock has fallen (-15%) for the year outperforming the Nasdaq bear market. The photovoltaic (PV) solar module maker saw significant drops in revenues stemming from a drop in modules sold and average selling price, and lower Japan project revenues. The Company is a solid benefactor in the global movement for clean energy sources and the adoption of renewable energy. Market sentiment has been slipping from inflationary pressures, geopolitical problems, supply chain disruptions and slow economic growth. The Company is looking ahead to 2023 looking for nearly $4 in EPS as bookings are very strong and exceeding 16.7 GW for the year. The Russian Ukraine conflict has pushed the European Union propose legislation to adopt renewable energy sources for half its power needs by 2030. This comes amid rising oil prices but also to move away from reliance on authoritarian states including Russian fossil fuels and cut gas consumption by 30%. This would require all new and existing energy performance D buildings to have rooftop solar installations. Prudent investors seeking exposure in a leader in the clean solar energy segment can look for opportunistic pullbacks in shares of First Solar.


MarketBeat.com – MarketBeat

Q1 Fiscal 2022 Earnings Release

On April 28, 2022, First Solar released fiscal Q1 2022 results for the quarter ending in March 2021. The Company reported an earnings per share (EPS) loss of (-$0.41) excluding non-recurring items, beating consensus analyst estimates for a loss of (-$0.44), by $0.03. Revenues fell (-54.1%) year-over-year (YoY) to $367 million, missing analyst estimates for $588.73 million. Year-to-date net bookings were 16.7 GW and record expected module shipment backlog grew over 35 GW. First Solar CEO Mark Widmar commented, “We are encouraged by our strong bookings progress, as we booked 11.9 GW in less than 60 days since the prior earnings call, bringing our year-to-date bookings total to 16.7 GW further setting ourselves up for 2023 and beyond. Our agile approach to contracting continues to attract customers looking for long-term certainty and value.”

Full-Year 2022 Mixed Guidance

First Solar raised its full-year fiscal 2022 earnings guidance with EPS ranging between $0.00 to $0.60 versus consensus analyst estimates for $1.93. Full-year fiscal 2022 revenues are estimated between $2.4 billion to $2.6 billion but still below consensus analyst estimates for $2.73 billion. The Company expects year-end 2022 cash balance in the range of $1.10 billion to $1.35 billion.

Conference Call Takeaways

CEO Widmar stated that the (-$0.41) loss in the quarter was expected and within internal expectations on the quarter. It’s reflective of the challenging 2022 environment. However, the bright spot is the pace of strong bookings including 11.9 GW in under 60 days. This brings the year-to-date bookings to 16.7 GW which sets up for a solid 2023 and beyond. The recent bookings include adjusters to increase ASPs based on achievements, technology road map, and sales risk share mitigation. He stated, “In short, while these contracts have a baseline ASP that is reflective of the value of the product, we are manufacturing today. That ASP has the potential to increase, to capture the value of our product or technology enhancements or to offset sales rate and aluminum margin erosion risk.” CEO Widmar is encouraged by the bilateral priority of the U.S. and E.U. in replacing energy dependency on authoritarian states. India serves as a model template as it’s expected to have 40 GW of new sales capacity and 50 GW of new modules capacity by 2025.

First Solar Stock is Ready to Shine

FSLR Opportunistic Pullback Levels

Using the rifle charts on weekly and daily time frames provides a precision view of the landscape for FSLR stock. The weekly rifle chart peaked out near the $122.65 Fibonacci (fib) level. The weekly downtrend stalled with a flattening 5-period moving average (MA) at $69.82 above the 200-period MA at $68.13 and rising 15-period MA at $73.96. The weekly 50-period MA sits at $87.16 above the weekly upper Bollinger Bands (BBs) at $61.29. The weekly stochastic is attempting to cross over back up to trigger a weekly market structure low (MSL) buy signal a breakout through $76.94. The daily rifle charts have staged a rally as the daily stochastic makes a full oscillation up towards the overbought 90-band. The daily 5-period MA is rising at $72.53 followed by the 15-period MA at $67.83. The daily upper BBs sit at $77.46, and the 50-period MA support sits at $73.73. The daily lower BBs sit at $57.40. Prudent investors can watch for opportunistic pullback levels at the $70.59 fib, $67.99 fib, $65.28 fib, $61.53 fib, $57.19 fib, $54.50 fib, and the $51.53 fib level. Upside trajectories range from the $84.11 fib up towards the $101.12 fib level.

Credit: Source link

ShareTweetSendPinShare
Previous Post

The Surprising Lesson I Learned About Why People Leave Us

Next Post

The bar for corporate climate leadership is rising

Related Posts

Understanding FFIEC 051: What You Need To Know

Understanding FFIEC 051: What You Need To Know

May 12, 2023

The Federal Financial Institutions Examination Council (FFIEC) is a federal interagency body that oversees and regulates financial institutions in the United States. The council aims to...

Crafting Memorable Customer Experiences: Insights From A Customer Experience Strategy Consultant

Crafting Memorable Customer Experiences: Insights From A Customer Experience Strategy Consultant

May 12, 2023

The success of any business depends on the satisfaction of its customers. In today's competitive market, providing quality products and services alone is no longer enough...

The Rise Of ESG Investing: A New Era Of Socially Responsible Investing

The Rise Of ESG Investing: A New Era Of Socially Responsible Investing

May 12, 2023

The recent global emphasis on social and environmental issues has led to a significant shift in investment strategies, with the emergence of socially responsible investing (SRI)...

Best Side Hustles in Real Estate to Earn Profits 

Best Side Hustles in Real Estate to Earn Profits 

January 30, 2023

  If you want to make money in today's economy, you must do modern work, which is why everyone should have a side hustle. With the...

These Labor Day Savings Are Too Good to Miss

These Labor Day Savings Are Too Good to Miss

August 30, 2022

Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small...

Next Post
The bar for corporate climate leadership is rising

The bar for corporate climate leadership is rising

Onsite water management’s powerful alignment with ESG

Onsite water management’s powerful alignment with ESG

Macys Stock is Ready to Buy

Macys Stock is Ready to Buy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

No Content Available
TheGreatNews.com

This is an online news portal that aims to provide the latest updates about mindset, well being, positive news, wisdom, purpose, new technologies, entrepreneur, green energy, success, good life and stuff like that around the world. Feel free to get in touch with us!

© 2023 - TheGreatNews.com - All rights reserved!

  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
No Result
View All Result
  • Home
  • MINDSET
  • WELL BEING
  • POSITIVE NEWS
  • WISDOM
  • PURPOSE
  • NEW TECHNOLOGIES
  • More Topics
    • ENTREPRENEUR
    • GREEN ENERGIES
    • SUCCESS
    • GOOD LIFE

© 2023 - TheGreatNews.com - All rights reserved!