First Solar (NASDAQ:FSLR) Trading Down 0.2% – Should You Sell?

First Solar, Inc. (NASDAQ:FSLR)’s stock price was down 0.2% during mid-day trading on Friday . The company traded as low as $124.32 and last traded at $126.30. Approximately 807,844 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 2,587,190 shares. The stock had previously closed at $126.60.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FSLR. Citigroup lowered their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Barclays dropped their price target 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. Guggenheim decreased their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Bank of America decreased their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. dropped their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Four research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Price Performance

The firm has a market cap of $13.63 billion, a PE ratio of 10.94, a P/E/G 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. The business’s fifty day moving average is $151.59 and its 200-day moving average is $185.87.

First Solar (NASDAQ:FSLR) last posted 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alexander R. Bradley sold 599 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the sale, the chief financial officer now owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Markus Gloeckler sold 380 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares of the company’s stock, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

Several institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of 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 in the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. bought a new position in First Solar in the fourth quarter worth $53,000. Finally, Banque Transatlantique SA purchased a new position in First Solar during the fourth quarter valued at $53,000. Hedge funds and other 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.