First Solar, Inc. (NASDAQ:FSLR) Short Interest Update

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) saw a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 4,330,000 shares, a decline of 8.3% from the July 31st total of 4,720,000 shares. Approximately 4.3% of the company's shares are sold short. Based on an average daily volume of 2,830,000 shares, the days-to-cover ratio is currently 1.5 days.

First Solar Stock Up 1.9 %

Shares of NASDAQ:FSLR traded up $4.27 on Monday, hitting $227.37. 1,235,300 shares of the company's stock were exchanged, compared to its average volume of 2,420,587. First Solar has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a market capitalization of $24.34 billion, a PE ratio of 23.83, a P/E/G ratio of 0.38 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The firm's 50-day moving average is $223.75 and its 200 day moving average is $206.16.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 earnings per share. Sell-side analysts predict that First Solar will post 13.58 EPS for the current year.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 1,621 shares of the firm's stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the business's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the transaction, the insider now directly owns 3,549 shares of the company's stock, valued at approximately $922,740. The disclosure for this sale can be found here. Insiders have sold 12,506 shares of company stock worth $2,827,217 in the last ninety days. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its position in shares of First Solar by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer's stock worth $2,068,000 after purchasing an additional 49 shares in the last quarter. Cambridge Trust Co. increased its position in First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer's stock worth $546,000 after buying an additional 50 shares during the period. Great Diamond Partners LLC increased its position in First Solar by 3.8% during the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer's stock worth $247,000 after buying an additional 53 shares during the period. Xponance Inc. lifted its stake in First Solar by 0.4% in the second quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer's stock valued at $3,460,000 after buying an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of First Solar by 24.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer's stock valued at $70,000 after acquiring an additional 62 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on FSLR. Barclays increased their price objective on shares of First Solar from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Piper Sandler raised their price target on First Solar from $219.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, July 22nd. Oppenheimer boosted their price objective on First Solar from $325.00 to $326.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Janney Montgomery Scott lowered First Solar from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 18th. Finally, BMO Capital Markets dropped their target price on First Solar from $311.00 to $286.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average target price of $275.36.

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.