First Solar (NASDAQ:FSLR) Shares Up 5.1% – Should You Buy?

First Solar, Inc. (NASDAQ:FSLR) shares rose 5.1% during mid-day trading on Friday . The company traded as high as $138.19 and last traded at $137.76. Approximately 847,010 shares changed hands during trading, a decline of 68% from the average daily volume of 2,660,360 shares. The stock had previously closed at $131.13.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. 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 note on Tuesday, January 28th. Truist Financial restated a “buy” rating and set a $285.00 target price (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Roth Mkm reiterated a “buy” rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Robert W. Baird lowered their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Guggenheim reduced their target price 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 investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

The firm has a 50-day simple moving average of $169.00 and a two-hundred day simple moving average of $195.85. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion for 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%. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company’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 sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently bought and sold shares of FSLR. Field & Main Bank lifted its position in First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after buying an additional 55 shares in the last quarter. Covestor Ltd raised its position in First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after purchasing an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC raised its position 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 worth $1,623,000 after acquiring an additional 55 shares during the last quarter. Demars Financial Group LLC lifted its position in 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 valued at $1,030,000 after purchasing an additional 56 shares during the period. Finally, Doliver Advisors LP boosted 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 valued at $831,000 after acquiring an additional 56 shares during the last quarter. 92.08% of the stock is currently owned by 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.