First Solar (NASDAQ:FSLR) Shares Down 0.5% – What’s Next?

First Solar, Inc. (NASDAQ:FSLR)’s stock price dropped 0.5% on Thursday . The company traded as low as $127.40 and last traded at $130.23. Approximately 523,410 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,662,889 shares. The stock had previously closed at $130.90.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Roth Mkm reissued a “buy” rating and set a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Citigroup reduced their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Redburn Atlantic started coverage on shares of First Solar in a report on Monday. They set a “neutral” rating for the company. BMO Capital Markets restated an “outperform” rating and set a $230.00 price target (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada cut their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Price Performance

The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. 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 business’s 50-day simple moving average is $170.10 and its two-hundred day simple moving average is $196.30.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the 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 transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at $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 own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Field & Main Bank increased its position in shares of First Solar by 4.1% in the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after acquiring an additional 55 shares during the period. Covestor Ltd increased its holdings in First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares during the period. Clear Harbor Asset Management LLC raised its holdings in shares of First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after acquiring an additional 55 shares in the last quarter. Demars Financial Group LLC raised its holdings in First Solar by 1.4% in the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after purchasing an additional 56 shares in the last quarter. Finally, Doliver Advisors LP raised its stake in First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after buying an additional 56 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

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.