First Solar (NASDAQ:FSLR) Stock Price Up 1.3% - Should You Buy?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) rose 1.3% on Friday . The company traded as high as $130.16 and last traded at $130.08. Approximately 650,093 shares changed hands during trading, a decline of 75% from the average daily volume of 2,550,913 shares. The stock had previously closed at $128.46.

Analyst Ratings Changes

A number of brokerages have recently commented on FSLR. Bank of America lowered their target price on First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley dropped their price objective on shares of First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a research note on Thursday, February 27th. Piper Sandler dropped 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 report on Wednesday, February 26th. Finally, Citigroup decreased their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $262.08.

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First Solar Stock Down 0.5 %

The business's 50 day simple moving average is $156.26 and its 200 day simple moving average is $187.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a market capitalization of $13.99 billion, a PE ratio of 11.25, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction on Friday, February 28th. The stock was 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 $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 over the last 90 days. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of FSLR. Whalen Wealth Management Inc. lifted its position in shares of First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after purchasing an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock worth $7,308,000 after acquiring an additional 34,074 shares in the last quarter. Stifel Financial Corp increased its position in shares of First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock worth $5,350,000 after acquiring an additional 5,780 shares during the period. Paragon Capital Management Inc. acquired a new stake in shares of First Solar in the fourth quarter valued at $1,240,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock valued at $104,910,000 after purchasing an additional 49,074 shares during the period. 92.08% of the stock is currently 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.