Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) traded up 2.8% on Thursday . The company traded as high as $130.42 and last traded at $129.94. 700,285 shares traded hands during trading, a decline of 73% from the average session volume of 2,589,661 shares. The stock had previously closed at $126.34.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Citigroup decreased their price target on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of First Solar from $297.00 to $238.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Truist Financial reiterated a "buy" rating and issued a $285.00 price objective (down from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Roth Mkm restated a "buy" rating and issued a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $230.00 target price (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Four equities 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.08.
View Our Latest Research Report on FSLR
First Solar Stock Up 0.6 %
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 stock has a market cap of $13.63 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company's 50-day moving average price is $150.28 and its 200 day moving average price is $185.17.
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 the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Mark R. Widmar sold 1,966 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the sale, the chief executive officer now owns 111,890 shares in the company, valued at $14,965,287.50. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Georges Antoun sold 229 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the sale, the insider now owns 52,836 shares of the company's stock, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.58% of the company's stock.
Institutional Trading of First Solar
Several institutional investors have recently bought and sold shares of FSLR. Larson Financial Group LLC boosted 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 buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of 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 First Solar in the fourth quarter valued at $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $53,000. Finally, Banque Transatlantique SA acquired a new position in First Solar in the fourth quarter valued at $53,000. 92.08% of the stock is owned by institutional investors and hedge funds.
About First Solar
(
Get Free Report)
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.
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