First Solar (NASDAQ:FSLR) Shares Up 0.9% – Time to Buy?

First Solar, Inc. (NASDAQ:FSLR) traded up 0.9% during mid-day trading on Tuesday . The stock traded as high as $131.18 and last traded at $129.92. 574,914 shares were traded during mid-day trading, a decline of 78% from the average session volume of 2,579,041 shares. The stock had previously closed at $128.82.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FSLR shares. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. cut their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Guggenheim lowered their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Roth Mkm reissued a “buy” rating and issued a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Four 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. Based on data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Trading Up 0.6 %

The company has a fifty day moving average of $152.88 and a two-hundred day moving average of $186.29. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Markus Gloeckler sold 380 shares of the company’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 owns 17,594 shares in the company, 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 a total of 34,311 shares of company stock worth $4,767,158 over the last three months. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Several institutional investors have recently modified their holdings of FSLR. Larson Financial Group LLC boosted its position 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 worth $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in First Solar during the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in shares of First Solar in the fourth quarter valued at about $53,000. Finally, Banque Transatlantique SA purchased a new position in shares of First Solar during the 4th quarter worth approximately $53,000. Hedge funds and other 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.