First Solar (FSLR) Stock is the 'Chart of the Day'
NEW YORK (TheStreet) -- First Solar (FSLR) - Get Report stock is down by 0.29% to $58.49 in early afternoon trading on Thursday.
Last Thursday, the company posted earnings of $3.38 per share on revenue of $1.27 billion for the 2015 third quarter. Analysts surveyed by Thomson Reuters had forecast for earnings of $1.55 per share on revenue of $1.11 billion.
Based in Tempe, AZ, First Solar is a global provider of solar energy solutions. The company designs, manufactures and sells photovoltaic (PV) solar modules, and develops, designs and sells PV solar power solutions.
TheStreet's Chris Versace and Bob Lang of Trifecta Stocks have identified First Solar as the "Chart of the Day." Here is what Versace and Lang had to say about the company:
Energy names have been tough names to get behind, and those in the solar space are certainly in this camp. However, First Solar caught our attention. It is well off the all-time highs, but this one has some short-term momentum behind it.
The recent earnings were stellar, good enough to pop the stock well over 10% last week. Since then, the stock has made higher highs and higher lows and is now making a move on the highs made this past spring. Money flow has been strong, and the price chart is now out in a fat tail condition, moving outside of the Bollinger bands. Relative strength is off the charts, and we have a new Moving Average Convergence Divergence buy signal. When a stock gaps above several resistance areas like this one did last week, there will be some shorts to cover.
-Chris Versace and Bob Lang " Chart of the Day: FSLR" originally published on 11/5/15 on Trifecta Stocks.
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Separately, TheStreet Ratings team rates FIRST SOLAR INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate FIRST SOLAR INC (FSLR) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, attractive valuation levels and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: FSLR
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.