First Solar (NASDAQ:FSLR) Trading Up 1.3% - Time to Buy?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s stock price shot up 1.3% during trading on Wednesday . The company traded as high as $131.26 and last traded at $129.00. 509,544 shares traded hands during trading, a decline of 80% from the average session volume of 2,548,322 shares. The stock had previously closed at $127.34.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FSLR. Royal Bank of Canada dropped their price objective on First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Guggenheim lowered their price objective on shares of First Solar from $335.00 to $304.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of First Solar in a research report on Monday, March 3rd. They issued a "neutral" rating for the company. UBS Group lowered their target price on First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, StockNews.com upgraded First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and an average price target of $262.08.

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First Solar Trading Up 2.2 %

The stock has a market cap of $14.06 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a 50 day moving average of $156.26 and a two-hundred day moving average of $188.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $1.48 billion. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the business'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 transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Georges Antoun sold 229 shares of the firm'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 $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares in the company, 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 three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by corporate insiders.

Institutional Trading of First Solar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Harbor Asset Management LLC increased its stake in shares of First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock worth $1,623,000 after acquiring an additional 55 shares during the last quarter. Doliver Advisors LP boosted its holdings in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock valued at $831,000 after acquiring an additional 56 shares during the period. Smartleaf Asset Management LLC boosted its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after acquiring an additional 63 shares during the period. Independent Advisor Alliance boosted its holdings in First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock valued at $368,000 after acquiring an additional 63 shares during the period. Finally, Huntington National Bank boosted its holdings in First Solar by 15.3% during the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after acquiring an additional 68 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

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.