Today’s Research Reports on Trending Tickers: First Solar and SunPower
U.S. markets rose Wednesday on the strength of financial and technology stocks. The Dow Jones Industrial Average gained 0.68 percent to close at 21,454.61, while the S&P 500 Index rose 0.88 percent to close at 2,440.69, its largest daily gain in two months. The tech-heavy Nasdaq Composite Index spiked 1.43 percent to close at 6,234.41, its largest daily gain in 8 months. Some analysts believe the recent weakness from the technology sector should be short lived.
“Stocks are fairly valued and technology shares had done really well. Seeing dips in some of the highflying shares at this stage is healthy,” said Kim Forrest, senior analyst and portfolio manager at Fort Pitt Capital Group.
RDI Initiates Coverage on:
First Solar, Inc.
First Solar Inc.’s stock moved 1.10% higher Wednesday, to close the day at $40.49. The stock recorded a trading volume of 2,437,711 shares, which was below its three months average volume of 3,419,750 shares. In the last year First Solar Inc.’s shares have traded in a range of 25.56 – 49.50. The share price has gained 58.42% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. Moreover, the stock’s 50-day moving average of $36.40 is greater than its 200-day moving average of $33.01. Shares of First Solar have gained approximately 26.18 percent year-to-date.
Access RDI’s First Solar Research Report at:
On Wednesday, shares in SunPower Corporation recorded a trading volume of 5,713,637 shares, which was above the three months average volume of 2,726,350 shares. The stock ended the day 4.36% higher at 9.58. The share price has gained 64.04% from its 52 week low with a 52 week trading range of 5.84 – 16.41.The company’s shares are currently trading above their 200-day moving average. Moreover, the stock’s 50-day moving average of $7.64 is greater than its 200-day moving average of $7.22. Shares of SunPower have gained approximately 44.93 percent year-to-date.
Access RDI’s SunPower Research Report at:
Our Actionable Research on First Solar, Inc. (NASDAQ:FSLR) and SunPower Corp. (NASDAQ:SPWR) can be downloaded free of charge at Research Driven Investing.
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