First Solar (NASDAQ:FSLR) Shares Down 0.6% – What’s Next?

First Solar, Inc. (NASDAQ:FSLR) fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $129.22 and last traded at $130.43. 411,571 shares changed hands during trading, a decline of 84% from the average session volume of 2,646,831 shares. The stock had previously closed at $131.23.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FSLR shares. Robert W. Baird cut their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Bank of America decreased their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Guggenheim lowered their target price on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Roth Mkm restated a “buy” rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Finally, Barclays reduced their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $262.08.

First Solar Price Performance

The stock has a market cap of $14.12 billion, a PE ratio of 11.36, a PEG ratio of 0.19 and a beta of 1.47. The company has a 50-day simple moving average of $170.10 and a 200-day simple moving average of $196.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Field & Main Bank grew its holdings in First Solar by 4.1% in the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after buying an additional 55 shares during the last quarter. Covestor Ltd grew its stake in shares of First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after acquiring an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC grew its stake in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after acquiring an additional 55 shares during the last quarter. Demars Financial Group LLC increased its position in First Solar by 1.4% during the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after acquiring an additional 56 shares during the period. Finally, Doliver Advisors LP increased its holdings in shares of First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after purchasing an additional 56 shares during the period. 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.