First Solar (NASDAQ:FSLR) Shares Up 7.3% – Should You Buy?

First Solar, Inc. (NASDAQ:FSLR) rose 7.3% during mid-day trading on Thursday . The company traded as high as $197.47 and last traded at $195.42. Approximately 3,726,516 shares changed hands during trading, an increase of 48% from the average daily volume of 2,518,718 shares. The stock had previously closed at $182.13.

Analyst Ratings Changes

FSLR has been the subject of a number of recent research reports. Seaport Res Ptn raised shares of First Solar to a “hold” rating in a research report on Tuesday, November 5th. Piper Sandler lowered their price target on shares of First Solar from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a research report on Thursday, August 1st. Oppenheimer lifted their price target on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.50.

First Solar Price Performance

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 cap of $20.39 billion, a P/E ratio of 16.40, a PEG ratio of 0.32 and a beta of 1.48. The stock’s 50-day simple moving average is $216.28 and its two-hundred day simple moving average is $225.23.

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 analysts’ consensus estimates of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 EPS. Equities research analysts forecast that First Solar, Inc. will post 13.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV grew its holdings in shares of First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares during the last quarter. Davis Investment Partners LLC lifted its stake in First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after acquiring an additional 46 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after acquiring an additional 49 shares during the period. Cambridge Trust Co. lifted its stake in First Solar by 1.6% in the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 50 shares during the period. Finally, Gilman Hill Asset Management LLC lifted its stake in First Solar by 2.8% in the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after acquiring an additional 50 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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.