First Solar (NASDAQ:FSLR) Trading Up 0.7% – What’s Next?

First Solar, Inc. (NASDAQ:FSLR) traded up 0.7% on Monday . The stock traded as high as $135.00 and last traded at $132.26. 906,833 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,568,889 shares. The stock had previously closed at $131.32.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FSLR. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price objective (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Bank of America decreased their target price 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. Barclays cut their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Performance

The business has a fifty day moving average of $154.08 and a 200-day moving average of $186.71. The company has a market cap of $14.07 billion, a PE ratio of 11.32, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

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

Insider Activity

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the 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 transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FSLR. Wealth Enhancement Advisory Services LLC increased its stake in shares of 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 in the last quarter. Lighthouse Financial LLC purchased a new position in First Solar during the fourth quarter valued at $363,000. Siemens Fonds Invest GmbH boosted its holdings in 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of First Solar in the fourth quarter worth $43,442,000. Finally, Mackenzie Financial Corp increased its holdings in shares of First Solar by 4.7% during the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after acquiring an additional 738 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.