First Solar (NASDAQ:FSLR) Trading 4.6% Higher - Still a Buy?

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) traded up 4.6% during trading on Tuesday . The stock traded as high as $140.95 and last traded at $139.22. 985,310 shares were traded during mid-day trading, a decline of 64% from the average session volume of 2,701,062 shares. The stock had previously closed at $133.11.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Guggenheim decreased their price target on shares of First Solar from $335.00 to $304.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Piper Sandler decreased 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 note on Wednesday, February 26th. Robert W. Baird decreased their price target on shares of First Solar from $307.00 to $267.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. Finally, Truist Financial reaffirmed a "buy" rating and set a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.08.

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First Solar Trading Down 2.2 %

The stock's fifty day moving average price is $164.63 and its 200 day moving average price is $192.76. 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 stock has a market capitalization of $14.56 billion, a P/E ratio of 11.72, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the sale, the chief executive officer now directly owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,739 shares of company stock worth $4,289,403 in the last three months. Corporate insiders own 0.58% of the company's stock.

Institutional Trading of First Solar

Hedge funds have recently modified their holdings of the company. 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 valued at $856,000 after buying an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of First Solar by 665.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after purchasing an additional 34,074 shares during the last quarter. Stifel Financial Corp raised its position in shares of First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock valued at $5,350,000 after purchasing an additional 5,780 shares during the last quarter. Paragon Capital Management Inc. purchased a new position in shares of First Solar in the 4th quarter valued at approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of First Solar by 9.0% in the 4th 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 last quarter. 92.08% of the stock is 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.