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Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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First Solar (FSLR)

Headquartered in Tempe, AZ, First Solar, Inc. is the world’s largest thin-film PV solar module manufacturer and the largest PV solar module manufacturer in the Western Hemisphere. The company is a leading global provider of comprehensive photovoltaic (PV) solar energy solutions and specializes in designing, manufacturing, and selling solar electric power modules using a proprietary thin-film semiconductor technology. The company sells its products to project developers, system integrators and renewable energy project operators primarily in Europe and Germany in particular. First Solar also engages in designing and deploying commercial solar projects for utilities. The company also develops and sells PV solar power systems that primarily use the modules it manufactures. Additionally, it provides operations and maintenance (“O&M”) services to system owners.

FSLR boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of First Solar has seen some interesting price action recently; the stock is up 0.2% over the past one week and up 13.9% over the past four weeks. And in the last one-year period, FSLR has lost 16%. As for the stock's trading volume, 2,037,181.75 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For FSLR, 10 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.53 to $13.55 per share for 2024. FSLR boasts an average earnings surprise of 14.2%.

FSLR should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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First Solar, Inc. (FSLR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research