First Solar, Inc. (NASDAQ:FSLR) Sees Significant Growth in Short Interest

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 8,100,000 shares, a growth of 27.6% from the November 30th total of 6,350,000 shares. Based on an average daily trading volume, of 2,800,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 8.1% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group lowered their price target on First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Barclays cut their price target on shares of First Solar from $290.00 to $275.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Robert W. Baird dropped their price objective on shares of First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. Evercore ISI reduced their target price on shares of First Solar from $281.00 to $278.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Finally, Roth Mkm lowered their price target on First Solar from $320.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has 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 price target of $279.04.

First Solar Stock Performance

NASDAQ:FSLR traded down $1.08 during mid-day trading on Friday, hitting $182.63. The stock had a trading volume of 1,033,062 shares, compared to its average volume of 2,483,685. First Solar has a 52 week low of $135.88 and a 52 week high of $306.77. 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 stock has a market capitalization of $19.55 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 0.35 and a beta of 1.46. The company has a 50 day simple moving average of $194.09 and a 200-day simple moving average of $217.11.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company posted $2.50 EPS. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts expect that First Solar will post 13.15 earnings per share for the current fiscal year.

Institutional Trading of First Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaMark Advisors LLC acquired a new position in shares of First Solar during the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new stake in shares of First Solar in the 3rd quarter worth $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar in the third quarter valued at $29,000. Atlas Capital Advisors LLC boosted its stake in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock valued at $31,000 after buying an additional 111 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in First Solar during the second quarter worth about $38,000. 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.