First Solar (NASDAQ:FSLR) Sees Unusually-High Trading Volume – Here’s What Happened

First Solar, Inc. (NASDAQ:FSLR) shares saw strong trading volume on Monday . 1,409,099 shares traded hands during trading, a decline of 42% from the previous session’s volume of 2,422,639 shares.The stock last traded at $214.82 and had previously closed at $204.94.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FSLR shares. Royal Bank of Canada lowered their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Evercore ISI lowered their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. UBS Group lifted their price objective on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Mizuho reduced their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Morgan Stanley dropped their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Trading Up 1.7 %

The company has a market cap of $23.11 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 0.36 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $220.87 and its 200-day moving average price is $225.16.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 EPS. As a group, equities research analysts expect that First Solar, Inc. will post 13.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AlphaMark Advisors LLC bought a new position in First Solar in the third quarter valued at $25,000. Kennebec Savings Bank bought a new position in shares of First Solar during the 3rd quarter valued at about $29,000. Atlas Capital Advisors LLC raised its holdings in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares in the last quarter. Summit Securities Group LLC bought a new stake in First Solar in the 2nd quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in First Solar in the second quarter worth approximately $38,000. 92.08% of the stock is currently owned by institutional investors.

About First Solar

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.