First Solar (NASDAQ:FSLR) Shares Gap Down to $233.24

First Solar, Inc. (NASDAQ:FSLR) gapped down before the market opened on Monday . The stock had previously closed at $233.24, but opened at $220.22. First Solar shares last traded at $215.91, with a volume of 423,166 shares.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $315.00 target price on shares of First Solar in a report on Monday, July 8th. Robert W. Baird lowered their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. UBS Group upped their target price on shares of First Solar from $270.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Evercore ISI upgraded shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Tuesday, April 23rd. Finally, Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus target price of $271.92.

First Solar Stock Performance

The firm has a market capitalization of $23.26 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The company’s fifty day moving average price is $242.11 and its two-hundred day moving average price is $189.62.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter last year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 44.8% on a year-over-year basis. As a group, equities analysts expect that First Solar, Inc. will post 13.63 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares of the company’s stock, valued at $922,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Alexander R. Bradley sold 16,051 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The disclosure for this sale can be found here. Insiders sold a total of 51,153 shares of company stock worth $12,540,428 over the last 90 days. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Trust Co. boosted its position in shares of First Solar by 1.6% in the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after acquiring an additional 50 shares during the period. Great Diamond Partners LLC increased its stake in shares of First Solar by 3.8% in the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $247,000 after buying an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of First Solar by 24.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after buying an additional 62 shares in the last quarter. Family Legacy Inc. increased its position in First Solar by 1.4% in the first quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock worth $836,000 after purchasing an additional 69 shares during the period. Finally, Harbor Investment Advisory LLC increased its position in First Solar by 36.0% in the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds 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.