First Solar (NASDAQ:FSLR) Stock Price Up 7.3% – Should You Buy?

Shares of First Solar, Inc. (NASDAQ:FSLR) shot up 7.3% during trading on Thursday . The stock traded as high as $197.47 and last traded at $195.42. 3,726,516 shares were traded during trading, an increase of 48% from the average session volume of 2,518,718 shares. The stock had previously closed at $182.13.

Wall Street Analyst Weigh In

Several research firms have commented on FSLR. Susquehanna decreased their price target 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. Clarkson Capital assumed coverage on shares of First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective on the stock. Bank of America cut their price objective on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company cut their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Roth Mkm cut their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Stock Down 2.4 %

The stock has a market cap of $20.39 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. 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 business has a 50-day moving average price of $216.28 and a 200-day moving average price of $225.23.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 EPS. As a group, analysts forecast that First Solar, Inc. will post 13.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV raised its holdings in shares of First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after acquiring an additional 45 shares during the period. Davis Investment Partners LLC raised its holdings in shares of First Solar by 0.6% during the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after acquiring an additional 46 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after acquiring an additional 49 shares during the period. Cambridge Trust Co. raised its holdings in shares of First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 50 shares during the period. Finally, Gilman Hill Asset Management LLC raised its holdings in shares of First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after acquiring an additional 50 shares during the period. Hedge funds and other 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.