First Solar (NASDAQ:FSLR) Shares Down 4.4% – Here’s What Happened

First Solar, Inc. (NASDAQ:FSLR) shares fell 4.4% on Tuesday . The company traded as low as $126.02 and last traded at $127.21. 1,012,238 shares traded hands during trading, a decline of 60% from the average session volume of 2,544,866 shares. The stock had previously closed at $133.03.

Analyst Ratings Changes

FSLR has been the subject of a number of recent research reports. Redburn Atlantic assumed coverage on First Solar in a report on Monday, March 3rd. They issued a “neutral” rating for the company. Barclays dropped their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Robert W. Baird dropped their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Finally, Guggenheim decreased their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Down 3.5 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock has a market capitalization of $13.74 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The stock has a fifty day moving average price of $161.31 and a 200 day moving average price of $190.44.

First Solar (NASDAQ:FSLR) last announced its quarterly 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). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now owns 4,695 shares of the company’s stock, valued at $624,247.20. This represents a 8.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares in the company, valued at $14,492,640. This trade represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,739 shares of company stock valued at $4,289,403. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FSLR. Norges Bank bought a new position in shares of First Solar during the 4th quarter valued at $317,399,000. Wellington Management Group LLP increased its holdings in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares during the period. Demars Financial Group LLC lifted its stake in shares of First Solar by 17,404.5% in the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock valued at $127,379,000 after acquiring an additional 718,631 shares during the last quarter. Mirova US LLC boosted its holdings in First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after acquiring an additional 585,394 shares during the period. Finally, Amundi lifted its position in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.