First Solar (NASDAQ:FSLR) Trading 0.7% Higher – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR) was up 0.7% during trading on Monday . The company traded as high as $135.00 and last traded at $132.26. Approximately 906,833 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 2,568,889 shares. The stock had previously closed at $131.32.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FSLR shares. Roth Mkm reiterated a “buy” rating and set a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. Piper Sandler decreased their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird lowered their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Bank of America cut their price target on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $14.05 billion, a PE ratio of 11.29, a P/E/G ratio of 0.19 and a beta of 1.52. The company’s fifty day simple moving average is $156.26 and its two-hundred day simple moving average is $187.86.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In related news, insider Georges Antoun sold 229 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the sale, the chief financial officer now directly owns 45,717 shares in the company, valued at $6,114,648.75. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 over the last three months. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

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