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First Solar (NASDAQ:FSLR) Sees Large Volume Increase - What's Next?

First Solar logo with Oils/Energy background

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,409,099 shares traded hands during mid-day trading, a decline of 42% from the previous session's volume of 2,422,639 shares.The stock last traded at $214.82 and had previously closed at $204.94.

Wall Street Analyst Weigh In

FSLR has been the subject of several research reports. Citigroup upgraded First Solar from a "neutral" rating to a "buy" rating and increased their target price for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. DZ Bank upgraded First Solar from a "hold" rating to a "buy" rating and set a $280.00 target price for the company in a research report on Thursday, August 1st. Jefferies Financial Group dropped their target price on First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. Morgan Stanley dropped their target price on First Solar from $329.00 to $297.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Finally, Barclays increased their target price on First Solar from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $281.13.

View Our Latest Stock Analysis on First Solar

First Solar Stock Up 3.6 %

The company has a quick ratio of 1.65, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $221.68 and a 200 day simple moving average of $224.61. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts' consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts expect that First Solar, Inc. will post 13.12 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Patrick James Buehler sold 8,619 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares in the company, valued at $108,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer's stock worth $2,068,991,000 after buying an additional 105,236 shares during the last quarter. Electron Capital Partners LLC increased its position in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer's stock worth $1,729,223,000 after buying an additional 7,660,409 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer's stock worth $472,963,000 after buying an additional 279,719 shares during the last quarter. Dimensional Fund Advisors LP increased its position in First Solar by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer's stock worth $179,478,000 after buying an additional 64,265 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in First Solar by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer's stock worth $147,080,000 after buying an additional 2,378 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Company Profile

(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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