First Solar (NASDAQ:FSLR) Stock Price Up 2.6% – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR) shares were up 2.6% during trading on Tuesday . The stock traded as high as $131.66 and last traded at $130.93. Approximately 1,356,082 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 2,624,474 shares. The stock had previously closed at $127.63.

Analysts Set New Price Targets

FSLR has been the topic of several analyst reports. Citigroup reduced their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird decreased their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Morgan Stanley dropped 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. Barclays reduced their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company dropped their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Four investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Trading Up 2.8 %

The company has a 50-day moving average price of $171.20 and a 200 day moving average price of $196.97. The stock has a market capitalization of $14.05 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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 return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction 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 in the company, valued at $484,793.40. The trade was a 67.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

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

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.