First Solar (NASDAQ:FSLR) Shares Up 1.3% – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR)’s stock price rose 1.3% during trading on Friday . The company traded as high as $130.16 and last traded at $130.08. Approximately 650,093 shares changed hands during trading, a decline of 75% from the average daily volume of 2,550,913 shares. The stock had previously closed at $128.46.

Analysts Set New Price Targets

FSLR has been the topic of a number of research reports. Redburn Atlantic initiated coverage on shares of First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. Robert W. Baird reduced their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Piper Sandler reduced their target price on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Up 2.2 %

The company’s 50 day moving average price is $156.26 and its 200 day moving average price is $188.05. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52.

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

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. The trade was 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 business’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 transaction, the chief executive officer now owns 103,403 shares of the company’s stock, 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. Over the last ninety days, insiders sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in First Solar by 3.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock valued at $1,081,000 after purchasing an additional 222 shares during the period. Lighthouse Financial LLC acquired a new position in First Solar during the fourth quarter valued at $363,000. Siemens Fonds Invest GmbH raised its position in shares of First Solar by 147.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock worth $484,000 after acquiring an additional 1,640 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of First Solar in the fourth quarter worth about $43,442,000. Finally, Mackenzie Financial Corp raised its position in shares of First Solar by 4.7% in the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after acquiring an additional 738 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.