First Solar (NASDAQ:FSLR) Trading 0.9% Higher – What’s Next?

Shares of First Solar, Inc. (NASDAQ:FSLR) were up 0.9% on Thursday . The company traded as high as $130.69 and last traded at $130.47. Approximately 395,778 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,548,151 shares. The stock had previously closed at $129.34.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. UBS Group reduced their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley lowered their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Truist Financial restated a “buy” rating and set a $285.00 price objective (down from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Roth Mkm reissued a “buy” rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. Four equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Up 2.2 %

The business’s 50 day simple moving average is $156.26 and its 200 day simple moving average is $188.22. 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 market capitalization of $14.06 billion, a PE ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52.

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). 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 for the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alexander R. Bradley sold 599 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the transaction, the chief financial officer now owns 45,717 shares of the company’s stock, valued at $6,114,648.75. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 in the last three months. 0.58% of the stock is owned by corporate insiders.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Whalen Wealth Management Inc. raised its position in shares of First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after acquiring an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after purchasing an additional 34,074 shares during the last quarter. Stifel Financial Corp raised its holdings in First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after purchasing an additional 5,780 shares in the last quarter. Paragon Capital Management Inc. purchased a new stake in shares of First Solar during the 4th quarter worth approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after buying an additional 49,074 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.