First Solar (NASDAQ:FSLR) Trading Up 5.5%

First Solar, Inc. (NASDAQ:FSLR)’s share price rose 5.5% during trading on Wednesday . The stock traded as high as $161.90 and last traded at $161.51. Approximately 847,609 shares traded hands during trading, a decline of 58% from the average daily volume of 2,038,574 shares. The stock had previously closed at $153.16.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several analyst reports. Oppenheimer raised their target price on First Solar from $268.00 to $269.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Jefferies Financial Group started coverage on First Solar in a research report on Friday, December 15th. They issued a “buy” rating and a $211.00 price objective for the company. Mizuho lifted their price objective on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Susquehanna cut their price objective on First Solar from $261.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

First Solar Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 0.29 and a beta of 1.41. The firm has a 50-day moving average price of $152.04 and a two-hundred day moving average price of $155.26.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted ($0.07) earnings per share. First Solar’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts anticipate that First Solar, Inc. will post 13.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now owns 5,170 shares in the company, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,883 shares of company stock worth $3,100,837. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently added to or reduced their stakes in FSLR. First Pacific Financial bought a new position in First Solar during the 3rd quarter worth $27,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar in the 4th quarter valued at $27,000. Estabrook Capital Management bought a new position in shares of First Solar in the 3rd quarter valued at $29,000. Baystate Wealth Management LLC bought a new position in shares of First Solar in the 4th quarter valued at $29,000. Finally, Headinvest LLC bought a new position in shares of First Solar in the 3rd quarter valued at $30,000. Institutional investors 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.