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

First Solar, Inc. (NASDAQ:FSLR)’s stock price shot up 1.3% on Wednesday . The company traded as high as $131.26 and last traded at $129.00. 509,544 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,548,322 shares. The stock had previously closed at $127.34.

Analyst Ratings Changes

A number of research firms recently weighed in on FSLR. Morgan Stanley decreased their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Robert W. Baird decreased their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. BMO Capital Markets restated an “outperform” rating and set a $230.00 price objective (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, Truist Financial restated a “buy” rating and set a $285.00 price objective (down from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Four research 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.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Up 1.5 %

The firm has a 50-day moving average of $159.91 and a two-hundred day moving average of $189.73. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.19 and a beta of 1.52. 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 issued its quarterly earnings results 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 return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates 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.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alexander R. Bradley sold 599 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 $80,116.25. Following the transaction, the chief financial officer now owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FSLR. Wealth Enhancement Advisory Services LLC grew its holdings in shares of First Solar by 3.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock worth $1,081,000 after purchasing an additional 222 shares during the last quarter. Lighthouse Financial LLC acquired a new stake in shares of First Solar during the fourth quarter worth approximately $363,000. Siemens Fonds Invest GmbH raised its stake in shares of First Solar by 147.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock valued at $484,000 after acquiring an additional 1,640 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of First Solar in the 4th quarter worth approximately $43,442,000. Finally, Mackenzie Financial Corp grew its position in First Solar by 4.7% during the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after acquiring an additional 738 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.