First Solar (NASDAQ:FSLR) Stock Price Down 0.2% - Here's Why

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) fell 0.2% on Friday . The company traded as low as $124.32 and last traded at $126.30. 807,844 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 2,587,190 shares. The stock had previously closed at $126.60.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FSLR. Seaport Res Ptn raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Roth Mkm reissued a "buy" rating and set a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Truist Financial restated a "buy" rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, Piper Sandler lowered their target price on 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 investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.08.

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First Solar Stock Down 0.7 %

The stock has a market cap of $13.54 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 0.19 and a beta of 1.52. 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 fifty day moving average of $150.28 and a two-hundred day moving average of $184.79.

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 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 analysts' expectations of $1.48 billion. As a group, analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 599 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares of the company's stock, valued at approximately $6,114,648.75. This trade represents a 1.29 % 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 transaction, the insider now owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,311 shares of company stock worth $4,767,158. Corporate insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently bought and sold shares of FSLR. Cerity Partners LLC increased its stake in shares of First Solar by 60.0% in the third quarter. Cerity Partners LLC now owns 7,457 shares of the solar cell manufacturer's stock worth $1,860,000 after buying an additional 2,796 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of First Solar in the 3rd quarter worth about $360,000. The Manufacturers Life Insurance Company raised its stake in shares of First Solar by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 80,271 shares of the solar cell manufacturer's stock valued at $20,036,000 after purchasing an additional 1,479 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of First Solar during the third quarter worth about $240,000. Finally, Glenmede Trust Co. NA grew its stake in First Solar by 4.1% in the third quarter. Glenmede Trust Co. NA now owns 2,328 shares of the solar cell manufacturer's stock worth $581,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds 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.