First Solar (NASDAQ:FSLR) Stock Price Down 2.8% – Should You Sell?

First Solar, Inc. (NASDAQ:FSLR) shares were down 2.8% during mid-day trading on Wednesday . The stock traded as low as $135.21 and last traded at $135.16. Approximately 587,047 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,715,328 shares. The stock had previously closed at $139.10.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FSLR. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft set a $265.00 target price on First Solar in a research report on Thursday, February 27th. Truist Financial reiterated a “buy” rating and issued a $285.00 target price (down from $300.00) 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 research report on Wednesday, January 15th. Finally, Roth Mkm reiterated a “buy” rating and issued a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Four 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Up 0.6 %

The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.19 and a beta of 1.52. 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 50 day simple moving average of $164.63 and a 200 day simple moving average of $192.76.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $55,710.24. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction 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 owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,739 shares of company stock worth $4,289,403 over the last ninety days. 0.58% of the stock is currently owned by company insiders.

Institutional Trading of First Solar

Several hedge funds have recently made changes to their positions in the company. Strengthening Families & Communities LLC bought a new stake in shares of First Solar during the 3rd quarter valued at $25,000. Larson Financial Group LLC raised its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of 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 purchasing an additional 63 shares during the period. Crews Bank & Trust bought a new stake in shares of First Solar during the 4th quarter valued at $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the 4th quarter valued at $53,000. 92.08% of the stock is currently owned by institutional investors.

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.