Keep an eye on rebounding shares of First Solar (SYM: FSLR).
After finding support just under $200 a share, the oversold solar giant is now back to $231.07. From here, we’d like to see it retest $260 initially.
Helping, company earnings have been strong. Second quarter net income more than doubled to $349 million, or $3.25 a share from $171 million, or $1.59 a share. Revenue was up 25% year over year to $1.01 billion, which beat by $66.11 million.
“We are pleased with our financial and operational execution through the first half of this year as we continue to deliver on our commitments,” said Mark Widmar, CEO of First Solar. “Our balanced approach to growth, profitability, and liquidity, combined with multiple technological and business model points of differentiation is enabling us to deliver value for both our customers and our shareholders”.
