First Solar (NASDAQ:FSLR) Trading Up 0.9% - Here's Why

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) were up 0.9% during mid-day trading on Thursday . The company traded as high as $130.69 and last traded at $130.47. Approximately 395,778 shares traded hands during trading, a decline of 84% from the average daily volume of 2,548,151 shares. The stock had previously closed at $129.34.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FSLR shares. JPMorgan Chase & Co. cut their price objective 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. Wells Fargo & Company dropped their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. UBS Group decreased their price objective on shares of First Solar from $360.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Bank of America dropped their target price on shares of First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Finally, Barclays decreased their price target on First Solar from $273.00 to $236.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Four research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $262.08.

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First Solar Stock Up 2.2 %

The business's 50 day moving average price is $156.26 and its 200-day moving average price is $188.05. 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 capitalization of $14.06 billion, a PE ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred 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 transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the sale, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 in the last three months. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently bought and sold shares of FSLR. Larson Financial Group LLC grew its position 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 worth $39,000 after buying an additional 107 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after acquiring an additional 63 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of First Solar in the 4th quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar in the 4th quarter valued at $53,000. Finally, Banque Transatlantique SA purchased a new stake in shares of First Solar during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

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.