First Solar (NASDAQ:FSLR) Shares Down 1.1% – Should You Sell?

First Solar, Inc. (NASDAQ:FSLR) shares were down 1.1% during trading on Thursday . The company traded as low as $134.77 and last traded at $134.58. Approximately 347,462 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,699,785 shares. The stock had previously closed at $136.04.

Analyst Upgrades and Downgrades

FSLR has been the subject of several analyst reports. Bank of America lowered their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Roth Mkm reissued a “buy” rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $285.00 price objective (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Royal Bank of Canada cut 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. Finally, Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Four equities research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Down 2.4 %

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 firm’s 50-day simple moving average is $164.63 and its 200 day simple moving average is $192.76. The stock has a market capitalization of $14.21 billion, a P/E ratio of 11.46, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results 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). 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 expect that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Transactions at First Solar

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 completion of the sale, the insider now directly owns 3,549 shares in the company, 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 at this hyperlink. Also, CEO Mark R. Widmar sold 1,272 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the transaction, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,739 shares of company stock worth $4,289,403. 0.58% of the stock is owned by company insiders.

Institutional Trading of First Solar

Several institutional investors have recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC boosted its position in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after acquiring an additional 55 shares during the period. Doliver Advisors LP boosted its holdings in First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after purchasing an additional 56 shares during the period. Smartleaf Asset Management LLC grew its position 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 worth $47,000 after purchasing an additional 63 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after purchasing an additional 63 shares during the period. Finally, Sigma Planning Corp raised its position in shares of First Solar by 4.8% in the third quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock valued at $362,000 after buying an additional 67 shares in the last quarter. 92.08% of the stock is currently 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.