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

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

Analysts Set New Price Targets

Several research firms have weighed in on FSLR. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Truist Financial restated a “buy” rating and issued a $285.00 price objective (down from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Barclays decreased their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

The stock’s 50-day simple moving average is $157.42 and its 200 day simple moving average is $188.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $13.93 billion, a PE ratio of 11.18, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alexander R. Bradley sold 599 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 1,272 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC boosted its stake in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust acquired a new stake in First Solar during the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in First Solar during the 4th quarter worth $53,000. Finally, Banque Transatlantique SA acquired a new stake in First Solar during the 4th quarter worth $53,000. 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.