First Solar (NASDAQ:FSLR) Trading Down 5.5% – Time to Sell?

First Solar, Inc. (NASDAQ:FSLR) shares were down 5.5% on Tuesday . The company traded as low as $181.79 and last traded at $182.22. Approximately 1,014,958 shares were traded during trading, a decline of 35% from the average daily volume of 1,564,138 shares. The stock had previously closed at $192.88.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FSLR. Susquehanna reduced their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Tuesday, October 29th. Roth Mkm decreased their target price on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, Piper Sandler boosted their price target on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $277.75.

First Solar Stock Up 1.3 %

The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a market cap of $18.64 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49. The stock’s fifty day moving average price is $189.56 and its 200 day moving average price is $208.59.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.50 EPS. As a group, research analysts forecast that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently made changes to their positions in the business. AlphaMark Advisors LLC bought a new stake in First Solar in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new stake in First Solar during the 3rd quarter valued at $25,000. Kennebec Savings Bank bought a new stake in First Solar in the 3rd quarter worth $29,000. Larson Financial Group LLC increased its position in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the period. Finally, Crews Bank & Trust bought a new position in shares of First Solar during the fourth quarter valued at about $53,000. 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.