First Solar, Inc. (NASDAQ: FSLR) shares rose in value in early trading today on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks edged lower Monday, with major indexes retreating from record levels.
The Dow Jones Industrial Average DJIA, -0.31% fell 48 points, or 0.2%, to 19,916, while the S&P 500 index SPX, -0.29% lost 5 points to 2,272, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.03% rose 4 points to 5,529, a gain of about 0.1%.
Analysts at Vetr Inc. upgraded shares of First Solar, Inc. (NASDAQ: FSLR) from Buy to Strong-Buy today. The company currently has a rating of Strong-Buy on the shares. A number of other analysts have spoken on the stock recently, and First Solar, Inc. has earned a consensus one-year price target of $34.21, higher than the opening price of $33.38, a difference of 10.22 percent. First Solar, Inc. stock has a 52-week high of $74.29. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Yesterday First Solar, Inc. (NASDAQ: FSLR) shares last traded at $33.48, which is a spike of $0.16 compared to the previous closing price. Opening at $33.38, they ranged from $33.02 and $33.52 throughout the day.
First Solar, Inc. (NASDAQ: FSLR) currently has a market cap of 3.48B.
First Solar, Inc. (NASDAQ: FSLR) Average Daily Trading Volume
154,174 shares crossed the trading desk yesterday, 55 percent lower than the norm, out of a total float 79,103,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you are considering.
First Solar, Inc. (NASDAQ: FSLR) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, First Solar, Inc. (NASDAQ: FSLR) now has a 50-day MA of $32.33 and 200-day MA of $38.68. It has traded in a 52-week range between $28.60 – 74.29 and today’s last price is 54.93%% lower than the 52 week high of $74.29.
Earnings growth is a critical factor to research when investing in stocks and investors seek companies that have increased their earnings at least 25% or more for 3 consecutive years.
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