First Solar (NASDAQ:FSLR) Trading Up 5.5%

First Solar, Inc. (NASDAQ:FSLR) was up 5.5% during trading on Wednesday . The stock traded as high as $161.90 and last traded at $161.51. Approximately 847,609 shares were traded during trading, a decline of 58% from the average daily volume of 2,038,574 shares. The stock had previously closed at $153.16.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FSLR shares. Royal Bank of Canada restated an “outperform” rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Mizuho lifted their price target on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Jefferies Financial Group initiated coverage on First Solar in a research note on Friday, December 15th. They set a “buy” rating and a $211.00 price target for the company. Oppenheimer lifted their price target on First Solar from $268.00 to $269.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company downgraded First Solar from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $215.00 to $187.00 in a research note on Monday, January 8th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

First Solar Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The stock has a fifty day moving average price of $152.04 and a 200-day moving average price of $155.26. The firm has a market cap of $18.04 billion, a PE ratio of 21.81, a PEG ratio of 0.29 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts expect that First Solar, Inc. will post 13.51 EPS for the current year.

Insiders Place Their Bets

In other news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO Markus Gloeckler sold 679 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the completion of the transaction, the chief technology officer now owns 14,473 shares of the company’s stock, valued at $2,315,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders have sold 19,883 shares of company stock valued at $3,100,837 over the last three months. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar during the fourth quarter valued at about $27,000. Baystate Wealth Management LLC bought a new position in First Solar during the fourth quarter valued at about $29,000. First Pacific Financial acquired a new position in shares of First Solar in the 3rd quarter valued at $27,000. Estabrook Capital Management acquired a new position in shares of First Solar in the 3rd quarter valued at $29,000. Finally, Headinvest LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $30,000. Institutional investors 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.