First Solar (NASDAQ:FSLR) Stock Price Up 5.1% - What's Next?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s share price traded up 5.1% during mid-day trading on Friday . The company traded as high as $138.19 and last traded at $137.76. 847,010 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,660,360 shares. The stock had previously closed at $131.13.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. UBS Group lowered their price target on shares of First Solar from $360.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Mizuho raised shares of First Solar from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Citigroup lowered their target price on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler lowered their target price 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. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.08.

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First Solar Price Performance

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 stock has a market cap of $14.90 billion, a P/E ratio of 11.98, a PEG ratio of 0.19 and a beta of 1.52. The firm's fifty day moving average price is $167.08 and its 200-day moving average price is $194.60.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) 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 firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On First Solar

A number of large investors have recently made changes to their positions in the company. Siemens Fonds Invest GmbH grew its stake in shares of First Solar by 147.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer's stock valued at $484,000 after acquiring an additional 1,640 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of First Solar during the 4th quarter valued at approximately $43,442,000. Mackenzie Financial Corp grew its stake in shares of First Solar by 4.7% during the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer's stock valued at $2,868,000 after acquiring an additional 738 shares during the period. Amiral Gestion bought a new position in shares of First Solar during the 4th quarter valued at approximately $529,000. Finally, Wormser Freres Gestion grew its stake in shares of First Solar by 54.7% during the 4th quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer's stock valued at $195,000 after acquiring an additional 378 shares during the period. 92.08% of the stock is currently owned by 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.