First Solar (NASDAQ:FSLR) Shares Down 0.6% – Here’s What Happened

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $265.00 target price on First Solar in a research note on Thursday, February 27th. UBS Group decreased their target price on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Roth Mkm restated a “buy” rating and issued a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Piper Sandler cut their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Four 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Trading Up 0.5 %

The company has a market cap of $14.29 billion, a PE ratio of 11.49, a price-to-earnings-growth 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 company has a 50-day moving average of $164.63 and a 200 day moving average of $192.76.

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

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the transaction, the chief executive officer now directly owns 109,000 shares of the company’s stock, valued at $14,492,640. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,739 shares of company stock worth $4,289,403. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Large investors have recently bought and sold shares of the business. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the third quarter worth $25,000. Larson Financial Group LLC increased its position in shares of First Solar by 214.0% during 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 in the last quarter. Smartleaf Asset Management LLC increased its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar during the fourth quarter worth $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar during the fourth quarter worth $53,000. Institutional investors 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.