First Solar (NASDAQ:FSLR) Stock Price Up 1.3% – What’s Next?

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FSLR shares. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Guggenheim reduced their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Barclays dropped their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Redburn Atlantic started coverage on shares of First Solar in a report on Monday, March 3rd. They set a “neutral” rating for the company. Finally, Citigroup dropped their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Down 0.3 %

The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 0.19 and a beta of 1.52. The business has a fifty day moving average of $157.42 and a 200 day moving average of $188.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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

Insiders Place Their Bets

In related news, CFO Alexander R. Bradley sold 599 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last quarter. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Whalen Wealth Management Inc. grew its position in shares of First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after purchasing an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after purchasing an additional 34,074 shares during the period. Stifel Financial Corp grew its holdings in First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after buying an additional 5,780 shares during the last quarter. Paragon Capital Management Inc. bought a new position in First Solar in the 4th quarter worth approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of First Solar by 9.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after buying an additional 49,074 shares during the last quarter. 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.