First Solar (NASDAQ:FSLR) Sees Large Volume Increase – Should You Buy?

First Solar, Inc. (NASDAQ:FSLR) shares saw strong trading volume on Monday . 1,409,099 shares traded hands during trading, a decline of 42% from the previous session’s volume of 2,422,639 shares.The stock last traded at $214.82 and had previously closed at $204.94.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley cut their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Evercore ISI lowered their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Guggenheim lowered their price target on First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Susquehanna lowered their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $281.13.

First Solar Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14. The company has a market cap of $23.10 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.34 and a beta of 1.48. The firm has a 50 day moving average price of $221.68 and a 200-day moving average price of $224.28.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $2.50 EPS. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts predict that First Solar, Inc. will post 13.12 EPS for the current year.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,885 shares of company stock valued at $2,405,757. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of First Solar by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after buying an additional 105,236 shares in the last quarter. Electron Capital Partners LLC raised its holdings in shares of First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after buying an additional 7,660,409 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after buying an additional 279,719 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of First Solar by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock worth $179,478,000 after buying an additional 64,265 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of First Solar by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer’s stock worth $147,080,000 after buying an additional 2,378 shares in the last quarter. 92.08% of the stock is 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.