First Solar (NASDAQ:FSLR) Reaches New 52-Week Low - Here's Why

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $124.53 and last traded at $126.34, with a volume of 3692912 shares changing hands. The stock had previously closed at $131.46.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of analyst reports. Redburn Atlantic assumed coverage on First Solar in a research note on Monday, March 3rd. They issued a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a research note on Thursday, February 27th. Robert W. Baird dropped their price target 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. Barclays decreased their price objective on shares of First Solar from $273.00 to $236.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Bank of America dropped their target price on shares of First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $262.08.

First Solar Stock Performance

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 cap of $13.63 billion, a P/E ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The business's 50 day simple moving average is $150.28 and its 200 day simple moving average is $185.17.

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First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (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 business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. Sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other news, CFO Alexander R. Bradley sold 599 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the sale, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the 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 completion of the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. Corporate 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 business. Larson Financial Group LLC increased its stake in First Solar by 214.0% in 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 during the period. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after buying an additional 63 shares during the period. Crews Bank & Trust bought a new stake in First Solar during the 4th quarter valued at about $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the 4th quarter valued at about $53,000. Finally, Banque Transatlantique SA purchased a new stake in First Solar during the fourth quarter valued at approximately $53,000. 92.08% of the stock is currently owned by hedge funds and other 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.