First Solar (NASDAQ:FSLR) Shares Up 0.9% - What's Next?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) shares rose 0.9% on Tuesday . The company traded as high as $131.18 and last traded at $129.92. Approximately 574,914 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,579,041 shares. The stock had previously closed at $128.82.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FSLR. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research report on Thursday, February 27th. Redburn Atlantic started coverage on shares of First Solar in a report on Monday, March 3rd. They set a "neutral" rating for the company. Wells Fargo & Company decreased their price objective on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Citigroup reduced their target price on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $262.08.

First Solar Price Performance

The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The stock's fifty day moving average price is $151.59 and its two-hundred day moving average price is $185.87. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

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

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 21,542 shares of the business's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the completion of the sale, the insider now directly owns 4,695 shares of the company's stock, valued at $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake 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 buying an additional 107 shares in the last quarter. Smartleaf Asset Management LLC increased its position in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in First Solar in the 4th quarter valued at about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the 4th quarter worth about $53,000. Finally, Banque Transatlantique SA acquired a new position in shares of First Solar in the fourth quarter valued at approximately $53,000. 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.