First Solar (NASDAQ:FSLR) Shares Up 4.7%

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) shot up 4.7% during trading on Monday . The stock traded as high as $242.72 and last traded at $241.91. 328,954 shares changed hands during trading, a decline of 87% from the average session volume of 2,437,303 shares. The stock had previously closed at $231.07.

Wall Street Analyst Weigh In

Several brokerages have commented on FSLR. BMO Capital Markets decreased their target price on shares of First Solar from $311.00 to $286.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 31st. Guggenheim decreased their target price on shares of First Solar from $359.00 to $356.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group boosted their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a "buy" rating in a research report on Tuesday, June 4th. Morgan Stanley boosted their target price on shares of First Solar from $248.00 to $331.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 4th. Finally, Clarkson Capital initiated coverage on shares of First Solar in a research report on Wednesday, August 14th. They issued a "buy" rating and a $270.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $275.36.

First Solar Trading Up 0.9 %

The business's 50 day moving average is $227.57 and its two-hundred day moving average is $202.97. The company has a quick ratio of 1.86, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $24.96 billion, a P/E ratio of 25.50, a PEG ratio of 0.37 and a beta of 1.44.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $939.71 million. During the same period in the previous year, the business earned $1.85 earnings per share. The company's revenue was up 24.6% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 13.53 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the business's stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the sale, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alexander R. Bradley sold 16,051 shares of the business's stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the sale, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,203 shares of company stock worth $9,598,253. 0.58% of the stock is owned by corporate insiders.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in First Solar by 6.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer's stock worth $43,749,000 after buying an additional 15,430 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in First Solar by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer's stock worth $20,434,000 after buying an additional 20,465 shares during the period. Northern Trust Corp raised its holdings in First Solar by 1.7% during the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer's stock worth $175,816,000 after buying an additional 16,756 shares during the period. Legend Financial Advisors Inc. purchased a new position in First Solar during the 1st quarter valued at about $759,000. Finally, Burford Brothers Inc. purchased a new position in First Solar during the 4th quarter valued at about $3,539,000. 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.