First Solar (NASDAQ:FSLR) Shares Gap Up - Time to Buy?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $122.45, but opened at $131.50. First Solar shares last traded at $138.28, with a volume of 1,298,169 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Redburn Atlantic initiated coverage on First Solar in a report on Monday, March 3rd. They issued a "neutral" rating on the stock. Morgan Stanley set a $223.00 price objective on First Solar and gave the stock an "overweight" rating in a report on Wednesday. Finally, UBS Group lowered their target price on shares of First Solar from $285.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. 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 currently has an average rating of "Moderate Buy" and a consensus price target of $249.96.

First Solar Trading Up 1.8 %

The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $14.87 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The stock's fifty day moving average price is $133.88 and its two-hundred day moving average price is $169.67.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate 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 anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, the insider now owns 52,836 shares of the company's stock, valued at $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of First Solar during the 4th quarter valued at $317,399,000. Demars Financial Group LLC boosted its stake in First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock worth $127,379,000 after acquiring an additional 718,631 shares in the last quarter. Mirova US LLC boosted its stake in First Solar by 961.0% during the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock worth $113,906,000 after acquiring an additional 585,394 shares in the last quarter. Amundi increased its stake in shares of First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after purchasing an additional 426,797 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of First Solar by 218.6% during the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after purchasing an additional 306,581 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.