First Solar (NASDAQ:FSLR) Stock Price Up 0.9% – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR)’s stock price rose 0.9% during trading on Tuesday . The stock traded as high as $131.18 and last traded at $129.92. Approximately 574,914 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,579,041 shares. The stock had previously closed at $128.82.

Analysts Set New Price Targets

FSLR has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research report on Thursday, February 27th. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Robert W. Baird decreased their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Citigroup dropped 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. Finally, Piper Sandler decreased their price target on shares of First Solar from $250.00 to $230.00 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a fifty day moving average price of $155.16 and a 200 day moving average price of $187.25. The company has a market cap of $14.09 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last announced 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). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In other news, CTO Markus Gloeckler sold 380 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the transaction, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of First Solar by 3.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock worth $1,081,000 after purchasing an additional 222 shares in the last quarter. Lighthouse Financial LLC acquired a new stake in First Solar during the fourth quarter worth approximately $363,000. Siemens Fonds Invest GmbH raised its holdings in First Solar by 147.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock valued at $484,000 after acquiring an additional 1,640 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of First Solar during the 4th quarter valued at $43,442,000. Finally, Mackenzie Financial Corp grew its holdings in shares of First Solar by 4.7% during the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after purchasing an additional 738 shares in the last quarter. Institutional investors and hedge funds 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.