First Solar (NASDAQ:FSLR) Sees Unusually-High Trading Volume – Should You Buy?

First Solar, Inc. (NASDAQ:FSLR) saw an uptick in trading volume on Wednesday . 2,665,016 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 2,342,583 shares.The stock last traded at $166.15 and had previously closed at $147.46.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FSLR. JPMorgan Chase & Co. reduced their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $230.00 target price (down from $260.00) on shares of First Solar in a report on Wednesday. Evercore ISI cut their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Susquehanna dropped their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $271.96.

First Solar Stock Up 11.2 %

The firm’s 50-day simple moving average is $174.55 and its two-hundred day simple moving average is $199.38. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.19 and a beta of 1.47. 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 earnings per share 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its stake in First Solar by 4.7% in the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after purchasing an additional 738 shares during the last quarter. Amiral Gestion bought a new stake in shares of First Solar during the 4th quarter valued at approximately $529,000. Wormser Freres Gestion raised its holdings in First Solar by 54.7% in the 4th quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock valued at $195,000 after buying an additional 378 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of First Solar in the 4th quarter valued at about $2,129,000. Finally, JT Stratford LLC bought a new stake in shares of First Solar in the 4th quarter valued at $370,000. 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.