Search

FIRST SOLAR - SUPPORT IN TREND

The market value of First Solar would decline according to the company's results for the third quarter of 2021.


However, a trend support shown in the chart could currently be achieved.

Is the underlying upward trend now coming into the game?


First Solar will release its financial results for fiscal year 2021 on February 24, 2022.



There is something new and fundamental …


First Solar announced third quarter financial results on November 4.


Net sales for the third quarter were 584 million US-Dollar, compared to 629 million US-Dollar in the previous quarter and 927.6 US-Dollar million last year.


The company is expecting net sales between 2.875 billion and 3.1 billion US-Dollar in 2021.



Analysts' Consensus and Target Price…


The average target price is 109.81 US-Dollar.

The maximum target price is 140.00 US-Dollar.

The lowest target price is 61.00 US-Dollar.

Conclusion…


First Solar net sales decreased $ 46 million from the previous quarter. However, the company maintained its annual forecast for net sales for fiscal year.


As shown in the chart, the trend could be supported.

Is the underlying upward trend now coming into play?


Make up your own decision.


Feel free to follow us every 2 weeks on Finanzen am Freitag

Disclosure:

“The Wikifolio’s managed by Ritschy Dobetsberger and other depots can be invested in this value. You must also assume that the author himself holds the position being discussed in his portfolio and thus benefits from the implementation of a trading idea.


The thoughts published here are neither to be understood as a recommendation nor as an offer or an invitation to buy or sell financial instruments and should not be understood as such. They only represent the author's personal opinion.


Risk warning: Trading in financial products is subject to risk. You can lose your invested capital. "