First Solar, Inc. (NASDAQ:FSLR) Short Interest Update

First Solar, Inc. (NASDAQ:FSLRGet Free Report) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 4,000,000 shares, a drop of 9.5% from the December 15th total of 4,420,000 shares. Currently, 4.0% of the shares of the company are sold short. Based on an average daily trading volume, of 2,360,000 shares, the days-to-cover ratio is currently 1.7 days.

First Solar Stock Performance

Shares of FSLR opened at $147.26 on Thursday. First Solar has a one year low of $129.21 and a one year high of $232.00. The company has a 50-day moving average of $158.35 and a two-hundred day moving average of $169.34. The stock has a market cap of $15.73 billion, a price-to-earnings ratio of 33.32 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.19 and a quick ratio of 2.45.

First Solar (NASDAQ:FSLRGet Free Report) last announced its earnings results on Tuesday, October 31st. The solar cell manufacturer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.09 by $0.41. First Solar had a net margin of 14.99% and a return on equity of 8.35%. The company had revenue of $801.09 million during the quarter, compared to analysts’ expectations of $904.11 million. During the same period last year, the company posted ($0.46) earnings per share. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. On average, equities research analysts expect that First Solar will post 7.98 earnings per share for the current year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $176.02, for a total value of $422,448.00. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $7,400,056.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $176.02, for a total value of $422,448.00. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $7,400,056.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kuntal Kumar Verma sold 1,621 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $144.16, for a total transaction of $233,683.36. Following the completion of the transaction, the insider now owns 1,621 shares in the company, valued at $233,683.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,421 shares of company stock worth $1,035,331. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RFP Financial Group LLC boosted its holdings in shares of First Solar by 6,311.1% during the second quarter. RFP Financial Group LLC now owns 577 shares of the solar cell manufacturer’s stock worth $110,000 after purchasing an additional 568 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of First Solar during the second quarter worth approximately $1,788,000. Guggenheim Capital LLC boosted its holdings in shares of First Solar by 2.4% during the second quarter. Guggenheim Capital LLC now owns 21,343 shares of the solar cell manufacturer’s stock worth $4,057,000 after purchasing an additional 510 shares during the period. Sora Investors LLC acquired a new stake in shares of First Solar during the second quarter worth approximately $10,455,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of First Solar during the second quarter worth approximately $5,585,000. 82.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FSLR shares. Wells Fargo & Company cut shares of First Solar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $215.00 to $187.00 in a report on Monday, January 8th. Mizuho increased their price objective on shares of First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Morgan Stanley raised shares of First Solar from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $214.00 to $237.00 in a research note on Friday, December 8th. Jefferies Financial Group started coverage on shares of First Solar in a research note on Friday, December 15th. They set a “buy” rating and a $211.00 target price on the stock. Finally, Citigroup lowered their target price on shares of First Solar from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 18th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average price target of $234.00.

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First Solar Company Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

Further Reading

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