First Solar (NASDAQ:FSLR) Stock Price Up 0.9% – Time to Buy?

First Solar, Inc. (NASDAQ:FSLR) was up 0.9% during trading on Thursday . The company traded as high as $130.69 and last traded at $130.47. Approximately 395,778 shares were traded during trading, a decline of 84% from the average daily volume of 2,548,151 shares. The stock had previously closed at $129.34.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Guggenheim lowered their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Robert W. Baird cut their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler dropped their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Four research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

The business’s fifty day moving average price is $158.67 and its 200-day moving average price is $189.31. The stock has a market cap of $13.72 billion, a PE ratio of 11.00, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS 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 the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the transaction, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 in the last three months. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its stake in First Solar by 3.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock worth $1,081,000 after purchasing an additional 222 shares during the period. Lighthouse Financial LLC bought a new position in First Solar during the 4th quarter valued at about $363,000. Siemens Fonds Invest GmbH boosted its position in First Solar by 147.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock valued at $484,000 after buying an additional 1,640 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of First Solar in the 4th quarter worth approximately $43,442,000. Finally, Mackenzie Financial Corp lifted its position in shares of First Solar by 4.7% in the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after purchasing an additional 738 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.