First Solar (NASDAQ:FSLR) Shares Down 0.5% - Time to Sell?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) traded down 0.5% on Thursday . The stock traded as low as $127.40 and last traded at $130.23. 523,410 shares changed hands during trading, a decline of 80% from the average session volume of 2,662,889 shares. The stock had previously closed at $130.90.

Analysts Set New Price Targets

A number of research firms have issued reports on FSLR. Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Guggenheim lowered their price objective on First Solar from $335.00 to $304.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. BMO Capital Markets reaffirmed an "outperform" rating and set a $230.00 price objective (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Piper Sandler reduced their target price on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Barclays dropped their price target on shares of First Solar from $273.00 to $236.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $262.08.

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First Solar Trading Up 6.1 %

The stock's 50 day simple moving average is $167.95 and its 200 day simple moving average is $195.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $14.90 billion, a PE ratio of 11.98, a PEG ratio of 0.19 and a beta of 1.52.

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 (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 company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. On average, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business'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 completion of the sale, the insider now directly owns 3,549 shares of the company's stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Solar

A number of large investors have recently bought and sold shares of FSLR. Strengthening Families & Communities LLC purchased a new position in shares of First Solar in the third quarter worth $25,000. Kennebec Savings Bank bought a new stake in First Solar in the 3rd quarter worth $29,000. Larson Financial Group LLC increased its position in shares of First Solar by 214.0% in 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 during the period. 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 during the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of First Solar during the fourth quarter worth about $53,000. 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.