First Solar (NASDAQ:FSLR) Reaches New 1-Year Low – Time to Sell?

First Solar, Inc. (NASDAQ:FSLR)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $124.53 and last traded at $126.34, with a volume of 3692912 shares changing hands. The stock had previously closed at $131.46.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FSLR shares. Roth Mkm reiterated a “buy” rating and issued a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. UBS Group dropped their price objective on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird cut their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Redburn Atlantic began coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Trading Up 0.6 %

The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company’s 50-day moving average price is $150.28 and its 200-day moving average price is $185.33. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares in the company, valued at $624,247.20. The trade was a 8.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on 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 directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This represents a 17.24 % 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. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock worth $2,259,697,000 after purchasing an additional 120,289 shares during the period. State Street Corp raised its position in shares of First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after buying an additional 108,984 shares during the period. Geode Capital Management LLC lifted its holdings in First Solar by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after acquiring an additional 63,739 shares during the last quarter. Wellington Management Group LLP lifted its holdings in First Solar by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after acquiring an additional 262,482 shares during the last quarter. Finally, Invesco Ltd. grew its position in First Solar by 13.9% in the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after acquiring an additional 223,933 shares during the period. Institutional investors and hedge funds 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.