First Solar (NASDAQ:FSLR) Stock Price Up 1.3% – Time to Buy?

First Solar, Inc. (NASDAQ:FSLR) was up 1.3% during mid-day trading on Wednesday . The stock traded as high as $131.26 and last traded at $129.00. Approximately 509,544 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 2,548,322 shares. The stock had previously closed at $127.34.

Analyst Upgrades and Downgrades

FSLR has been the topic of several research reports. Robert W. Baird dropped their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research report on Thursday, February 27th. Finally, Bank of America reduced their target price on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Price Performance

The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $157.42 and a 200 day moving average price of $188.89.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 229 shares of First Solar stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the sale, the insider now directly owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Larson Financial Group LLC boosted its position in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the period. Crews Bank & Trust bought a new stake in shares of First Solar in the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the fourth quarter worth about $53,000. Finally, Banque Transatlantique SA bought a new position in shares of First Solar during the 4th quarter valued at about $53,000. Institutional investors own 92.08% of the company’s stock.

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.