First Solar (NASDAQ:FSLR) Shares Down 5.5% – What’s Next?

First Solar, Inc. (NASDAQ:FSLR)’s share price dropped 5.5% during trading on Tuesday . The company traded as low as $181.79 and last traded at $182.22. Approximately 1,014,958 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,564,138 shares. The stock had previously closed at $192.88.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FSLR shares. Robert W. Baird reduced their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Barclays decreased their target price on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group cut their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

First Solar Price Performance

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 firm has a fifty day simple moving average of $189.56 and a two-hundred day simple moving average of $208.59. The firm has a market cap of $18.64 billion, a PE ratio of 15.00, a PEG ratio of 0.21 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 EPS. Equities analysts predict that First Solar, Inc. will post 13.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Electron Capital Partners LLC raised its position in First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. State Street Corp raised its holdings in First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after buying an additional 108,984 shares during the period. Geode Capital Management LLC lifted its position in First Solar by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after buying an additional 24,143 shares during the last quarter. Wellington Management Group LLP lifted its position in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in First Solar by 0.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after buying an additional 15,890 shares during the period. Institutional investors own 92.08% of the company’s stock.

About First Solar

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.