First Solar (NASDAQ:FSLR) Trading Down 0.2% – What’s Next?

First Solar, Inc. (NASDAQ:FSLR) fell 0.2% on Friday . The stock traded as low as $124.32 and last traded at $126.30. 807,844 shares were traded during trading, a decline of 69% from the average session volume of 2,587,190 shares. The stock had previously closed at $126.60.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FSLR. JPMorgan Chase & Co. reduced their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of First Solar in a report on Monday, March 3rd. They set a “neutral” rating for the company. Guggenheim dropped their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Citigroup dropped their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Trading Up 0.6 %

The business has a 50 day moving average of $150.28 and a 200 day moving average of $185.17. 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 $13.63 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52.

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 analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alexander R. Bradley sold 599 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares of the company’s stock, valued at $6,114,648.75. This trade represents a 1.29 % 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 in the last quarter. Company insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently modified their holdings of the company. Cerity Partners LLC raised its position in First Solar by 60.0% in the 3rd quarter. Cerity Partners LLC now owns 7,457 shares of the solar cell manufacturer’s stock valued at $1,860,000 after buying an additional 2,796 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of First Solar in the third quarter valued at approximately $360,000. The Manufacturers Life Insurance Company lifted its position in shares of First Solar by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 80,271 shares of the solar cell manufacturer’s stock worth $20,036,000 after purchasing an additional 1,479 shares in the last quarter. Finally, Townsquare Capital LLC acquired a new position in First Solar during the third quarter worth $240,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Company Profile

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.