First Solar (NASDAQ:FSLR) Shares Gap Up to $174.29

First Solar, Inc. (NASDAQ:FSLR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $174.29, but opened at $179.42. First Solar shares last traded at $175.46, with a volume of 327,315 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FSLR shares. Susquehanna reaffirmed a “positive” rating and issued a $258.00 price objective on shares of First Solar in a research report on Friday, April 5th. Bank of America boosted their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Oppenheimer reaffirmed an “outperform” rating and set a $269.00 target price on shares of First Solar in a report on Wednesday. Finally, Mizuho upped their target price on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.56.

First Solar Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The stock has a market capitalization of $18.87 billion, a PE ratio of 22.52, a PEG ratio of 0.31 and a beta of 1.41. The stock’s 50 day simple moving average is $160.86 and its two-hundred day simple moving average is $156.05.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. First Solar’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) EPS. On average, sell-side analysts expect that First Solar, Inc. will post 13.55 EPS for the current year.

Insider Buying and Selling at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO Markus Gloeckler sold 679 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $108,640.00. Following 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 legal filing with the SEC, which is accessible through this link. Also, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock valued at $4,269,540 in the last quarter. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Large investors have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar during the first quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar during the fourth quarter valued at about $27,000. Baystate Wealth Management LLC purchased a new stake in shares of First Solar during the fourth quarter valued at about $29,000. First Pacific Financial purchased a new stake in shares of First Solar during the third quarter valued at about $27,000. Finally, Estabrook Capital Management acquired a new position in shares of First Solar during the third quarter valued at about $29,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About First Solar

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.