First Solar (NASDAQ:FSLR) Trading Up 2.8% – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR) shares rose 2.8% on Thursday . The stock traded as high as $130.42 and last traded at $129.94. Approximately 700,285 shares were traded during trading, a decline of 73% from the average daily volume of 2,589,661 shares. The stock had previously closed at $126.34.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FSLR shares. Piper Sandler lowered their price objective on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price target (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Barclays decreased their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company dropped their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Four 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 company’s stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Trading Up 0.0 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market capitalization of $13.53 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The business’s 50-day moving average is $152.88 and its 200 day moving average is $186.29.

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

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now owns 111,890 shares in the company, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

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