First Solar (NASDAQ:FSLR) Trading Up 4.6% – Here’s Why

First Solar, Inc. (NASDAQ:FSLR)’s share price was up 4.6% during mid-day trading on Tuesday . The company traded as high as $140.95 and last traded at $139.22. Approximately 985,310 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 2,701,062 shares. The stock had previously closed at $133.11.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company cut their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley reduced their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Guggenheim dropped their price target on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Price Performance

The firm has a 50-day moving average of $164.63 and a 200 day moving average of $192.76. The company has a market capitalization of $14.22 billion, a PE ratio of 11.44, a PEG ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations 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 anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 1,272 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the transaction, the insider now owns 4,695 shares in the company, valued at $624,247.20. This trade represents a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,739 shares of company stock valued at $4,289,403 in the last ninety days. 0.58% of the stock is currently owned by company insiders.

Institutional Trading of First Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Atria Investments Inc increased its stake in shares of First Solar by 24.7% in the 3rd quarter. Atria Investments Inc now owns 2,476 shares of the solar cell manufacturer’s stock worth $618,000 after purchasing an additional 490 shares in the last quarter. Sigma Planning Corp grew its holdings in First Solar by 4.8% during the third quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock valued at $362,000 after purchasing an additional 67 shares during the period. Apollon Wealth Management LLC increased its position in First Solar by 4.4% in the third quarter. Apollon Wealth Management LLC now owns 3,657 shares of the solar cell manufacturer’s stock worth $912,000 after buying an additional 154 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of First Solar by 6.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock worth $60,898,000 after buying an additional 14,597 shares during the period. Finally, First Heartland Consultants Inc. purchased a new position in shares of First Solar during the 3rd quarter valued at about $212,000. 92.08% of the stock is owned by hedge funds and other 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.