First Solar (NASDAQ:FSLR) Trading Down 5.5% – Should You Sell?

Shares of First Solar, Inc. (NASDAQ:FSLR) fell 5.5% during trading on Tuesday . The stock traded as low as $181.79 and last traded at $182.22. 1,014,958 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 1,564,138 shares. The stock had previously closed at $192.88.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FSLR. Bank of America cut their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Mizuho reduced their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group dropped their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Robert W. Baird decreased their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Three 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.75.

First Solar Trading Down 4.4 %

The company has a market capitalization of $19.74 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.22 and a beta of 1.49. 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 company’s fifty day moving average is $190.16 and its 200-day moving average is $209.36.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $2.50 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts anticipate that First Solar, Inc. will post 13.07 EPS for the current fiscal year.

Institutional Trading of First Solar

A number of institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC acquired a new stake in shares of First Solar during the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar in the third quarter valued at about $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the third quarter worth about $29,000. Larson Financial Group LLC lifted 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 period. Finally, Itau Unibanco Holding S.A. purchased a new stake in First Solar in the second quarter valued at approximately $38,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.