First Solar (NASDAQ:FSLR) Trading 1% Higher - Should You Buy?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) was up 1% during trading on Monday . The stock traded as high as $135.70 and last traded at $133.80. Approximately 531,927 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,678,321 shares. The stock had previously closed at $132.51.

Analyst Ratings Changes

Several equities research analysts recently commented on FSLR shares. Guggenheim lowered their price target on First Solar from $335.00 to $304.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets reissued an "outperform" rating and issued a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price target on First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Finally, Bank of America lowered their price target on First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Four equities 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 stock. According to data from MarketBeat.com, First Solar has an average rating of "Moderate Buy" and an average target price of $262.08.

Remove Ads

First Solar Stock Down 0.7 %

The business has a 50 day moving average of $157.42 and a 200 day moving average of $188.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its 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). The firm 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%. On average, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CTO Markus Gloeckler sold 380 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares of the company's stock, valued at $14,492,640. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FSLR. Larson Financial Group LLC raised its stake in 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 acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings 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 worth $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the fourth quarter worth $53,000. Finally, Banque Transatlantique SA bought a new stake in shares of First Solar during the fourth quarter worth $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.