First Solar Stock Report JULY 28 2017
After smashing Earnings predictions First solar surged to a peak of 14% in after hours but then corrected by the market open.
With a second quarter net income of $52 million, or 50cents a share. When compared to YoY $11.4 million, 11 cents a share.
Adjusted earnings were 50 cents a share. Compared to 11 cents a share a year ago.
Estimates were also given a boost, from $2 a share to $2.50 with a estimated revenue of $3 billion to $3.1 billion. Analysts had forecasted a 57 cents a share on $2.9 billion.
What does this all mean, basically First solar beat expectations of current profits and also the outlook for the future.
What does this mean for us?
I decided to do some profit taking on the market open, unfortunately due to a delay in the markets opening on eToro we closed our positions at
All in all this added approximately .4% on to the equity of the total equity. Nothing to be sniffed at seeing as it consisted a very small amount of the total portfolio and one of the trades (12.41%) was opened for less than 24hrs.
It is disappointing that I didn't manage to set trailing stop losses to maximize the profits as at the time there was a huge correction happening as many were profit taking, how ever i did manage to open another position so we still have some stake in First Solar.
UPDATE as of 19:45 GMT (UTC) First Solar is having a rally and heading back up to the days high.