First Solar (NASDAQ:FSLR) Trading 2.6% Higher - Here's Why

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s share price rose 2.6% during trading on Tuesday . The company traded as high as $131.66 and last traded at $130.93. Approximately 1,356,082 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 2,624,474 shares. The stock had previously closed at $127.63.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of recent research reports. Robert W. Baird decreased their target price on First Solar from $307.00 to $267.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. Piper Sandler decreased their target price on First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $230.00 target price (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Morgan Stanley decreased their target price on First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Finally, Citigroup decreased their target price on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Four investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $262.08.

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First Solar Trading Up 6.1 %

The company has a market cap of $14.90 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. 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 50-day moving average of $167.08 and a 200 day moving average of $194.60.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction dated 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 owns 103,403 shares of the company's stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now directly owns 3,549 shares of the company's stock, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

Institutional Trading of First Solar

Several institutional investors have recently added to or reduced their stakes in FSLR. Strengthening Families & Communities LLC bought a new stake in First Solar in the third quarter worth about $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar during the third quarter valued at approximately $29,000. Larson Financial Group LLC raised its stake in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of First Solar by 31.7% during the fourth 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 in the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. Institutional investors own 92.08% of the company's stock.

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.