First Solar (NASDAQ:FSLR) Trading Down 3.1%

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s share price was down 3.1% on Monday . The company traded as low as $264.30 and last traded at $265.18. Approximately 587,388 shares were traded during trading, a decline of 76% from the average daily volume of 2,412,084 shares. The stock had previously closed at $273.61.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FSLR shares. Oppenheimer increased their price objective on shares of First Solar from $271.00 to $325.00 and gave the company an "outperform" rating in a research report on Wednesday, June 12th. Roth Mkm reiterated a "buy" rating and issued a $320.00 price target (up from $230.00) on shares of First Solar in a research report on Friday, May 31st. Royal Bank of Canada reiterated an "outperform" rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their price objective on shares of First Solar from $268.00 to $302.00 and gave the stock a "buy" rating in a research note on Tuesday, June 4th. Finally, BMO Capital Markets increased their price objective on shares of First Solar from $224.00 to $311.00 and gave the stock an "outperform" rating in a research note on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $265.72.

First Solar Stock Down 4.5 %

The business's fifty day moving average is $217.49 and its two-hundred day moving average is $178.13. The company has a market cap of $27.97 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 0.36 and a beta of 1.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same quarter last year, the business posted $0.40 EPS. The firm's revenue for the quarter was up 44.8% on a year-over-year basis. Equities analysts predict that First Solar, Inc. will post 13.55 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the firm's stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company's stock, valued at approximately $8,419,797.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Michael T. Sweeney sold 4,000 shares of First Solar stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $273.50, for a total value of $1,094,000.00. Following the transaction, the director now owns 16,692 shares of the company's stock, valued at approximately $4,565,262. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,269 shares of company stock valued at $13,287,671. Company insiders own 0.58% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FSLR. Norges Bank purchased a new position in shares of First Solar in the 4th quarter worth approximately $298,123,000. Clean Energy Transition LLP grew its position in First Solar by 948.8% during the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer's stock worth $191,750,000 after purchasing an additional 1,073,500 shares during the last quarter. Schroder Investment Management Group grew its position in First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer's stock worth $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Covalis Capital LLP grew its position in First Solar by 615.6% during the 3rd quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer's stock worth $65,931,000 after purchasing an additional 350,996 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in First Solar by 504.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer's stock worth $68,852,000 after purchasing an additional 333,496 shares during the last quarter. Hedge funds and other 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.