First Solar (NASDAQ:FSLR) Trading Down 0.6% – Should You Sell?

Shares of First Solar, Inc. (NASDAQ:FSLR) dropped 0.6% during trading on Friday . The company traded as low as $131.52 and last traded at $131.98. Approximately 511,967 shares changed hands during trading, a decline of 81% from the average daily volume of 2,689,985 shares. The stock had previously closed at $132.81.

Wall Street Analyst Weigh In

FSLR has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley decreased their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. UBS Group decreased their price objective on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Barclays decreased their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Roth Mkm restated a “buy” rating and issued a $280.00 price objective on shares of First Solar in a research note on Wednesday, February 26th. Four 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

The stock’s 50-day moving average price is $162.48 and its 200-day moving average price is $191.33. 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 company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 11.41, a P/E/G 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 (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,739 shares of company stock valued at $4,289,403 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Strengthening Families & Communities LLC purchased a new stake in First Solar in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC grew its stake in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC grew its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the period. Crews Bank & Trust purchased a new stake in First Solar in the 4th quarter worth approximately $53,000. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the 4th quarter worth approximately $53,000. 92.08% of the stock is owned by hedge funds and other 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.