First Solar (NASDAQ:FSLR) Stock Price Up 5.3% – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR)’s stock price traded up 5.3% during trading on Thursday . The company traded as high as $138.53 and last traded at $136.65. 2,249,565 shares were traded during mid-day trading, a decline of 15% from the average session volume of 2,654,912 shares. The stock had previously closed at $129.82.

Analysts Set New Price Targets

FSLR has been the subject of a number of research analyst reports. Citigroup dropped their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Roth Mkm restated a “buy” rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Redburn Atlantic assumed coverage on First Solar in a research report on Monday, March 3rd. They issued a “neutral” rating for the company. Finally, Robert W. Baird decreased their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Four investment 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. Based on data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average price target of $260.42.

First Solar Stock Performance

The business’s 50-day simple moving average is $145.44 and its 200 day simple moving average is $181.88. The firm has a market cap of $13.78 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion during 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%. As a group, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81 % 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 valued at $4,767,158. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

Large investors have recently made changes to their positions in the company. Townsquare Capital LLC bought a new stake in First Solar in the 3rd quarter worth approximately $240,000. Public Sector Pension Investment Board raised its holdings in First Solar by 12.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,371 shares of the solar cell manufacturer’s stock valued at $1,340,000 after buying an additional 600 shares during the period. Benjamin Edwards Inc. purchased a new position in First Solar during the third quarter worth $229,000. Hilltop Holdings Inc. bought a new position in First Solar during the third quarter valued at $316,000. Finally, Investment Management Corp of Ontario increased its position in First Solar by 169.9% during the third quarter. Investment Management Corp of Ontario now owns 6,027 shares of the solar cell manufacturer’s stock valued at $1,503,000 after acquiring an additional 3,794 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

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.