First Solar (NASDAQ:FSLR) Trading Up 2.8% – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR) was up 2.8% during trading on Thursday . The company traded as high as $130.42 and last traded at $129.94. Approximately 700,285 shares were traded during trading, a decline of 73% from the average daily volume of 2,589,661 shares. The stock had previously closed at $126.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FSLR shares. Barclays dropped their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. UBS Group cut their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic began coverage on shares of First Solar in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Truist Financial reissued a “buy” rating and set a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, Guggenheim dropped their target price on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Up 0.6 %

The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The firm has a 50-day moving average of $150.28 and a two-hundred day moving average of $185.33. 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 quarterly earnings data 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 net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar 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 value of $1,021,085.00. Following the sale, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. The trade was a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the transaction, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its holdings in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust bought a new stake in First Solar in the fourth quarter valued at $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar during the fourth quarter worth $53,000. Finally, Banque Transatlantique SA bought a new position in shares of First Solar during the fourth quarter valued at $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.