First Solar (NASDAQ:FSLR) Stock Price Down 0.6% - What's Next?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) dropped 0.6% during trading on Wednesday . The company traded as low as $129.22 and last traded at $130.43. Approximately 411,571 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,646,831 shares. The stock had previously closed at $131.23.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent analyst reports. UBS Group cut 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. Seaport Res Ptn upgraded shares of First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. StockNews.com upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Royal Bank of Canada cut their price target on shares of First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler cut their price target on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $262.08.

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First Solar Trading Up 6.1 %

The stock has a market capitalization of $14.90 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.19 and a beta of 1.52. The company's 50 day moving average is $167.08 and its 200 day moving average is $194.60. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion for 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%. On average, research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction on Friday, February 28th. The shares were 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 in the company, valued at approximately $484,793.40. This represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On First Solar

Several large investors have recently made changes to their positions in FSLR. Norges Bank bought a new stake in shares of First Solar in the 4th quarter worth about $317,399,000. Wellington Management Group LLP grew its holdings in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Demars Financial Group LLC grew its holdings in shares of First Solar by 17,404.5% in the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock worth $127,379,000 after purchasing an additional 718,631 shares during the last quarter. Mirova US LLC grew its holdings in shares of First Solar by 961.0% in the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock worth $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Finally, Amundi grew its holdings in shares of First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after purchasing an additional 426,797 shares during the last quarter. 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.