First Solar (NASDAQ:FSLR) Stock Price Up 4.8%

First Solar, Inc. (NASDAQ:FSLR) shot up 4.8% during mid-day trading on Wednesday . The company traded as high as $183.65 and last traded at $181.41. 2,006,371 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 2,056,438 shares. The stock had previously closed at $173.08.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FSLR. Wells Fargo & Company cut shares of First Solar from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $215.00 to $187.00 in a report on Monday, January 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of First Solar in a report on Wednesday, February 28th. Bank of America lifted their price target on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Janney Montgomery Scott assumed coverage on First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 price target on the stock. Finally, Oppenheimer lifted their price target on First Solar from $268.00 to $269.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $227.96.

First Solar Stock Up 3.1 %

The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $19.10 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The stock’s 50 day moving average is $159.59 and its 200 day moving average is $155.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.06. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Analysts forecast that First Solar, Inc. will post 13.55 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the transaction, the insider now owns 37,412 shares in the company, valued at $6,584,512. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Pacific Financial acquired a new stake in shares of First Solar during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar in the 4th quarter valued at $27,000. Estabrook Capital Management acquired a new stake in shares of First Solar in the 3rd quarter valued at $29,000. Baystate Wealth Management LLC acquired a new position in First Solar during the 4th quarter worth $29,000. Finally, Headinvest LLC acquired a new position in First Solar during the 3rd quarter worth $30,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.