First Solar (NASDAQ:FSLR) Stock Price Down 0.5% – Time to Sell?

First Solar, Inc. (NASDAQ:FSLR)’s stock price traded down 0.5% during mid-day trading on Thursday . The stock traded as low as $127.40 and last traded at $130.23. 523,410 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,662,889 shares. The stock had previously closed at $130.90.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research reports. BMO Capital Markets restated an “outperform” rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Citigroup decreased their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Piper Sandler cut their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Bank of America cut their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $262.08.

First Solar Price Performance

The stock has a market cap of $14.90 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The business’s 50 day moving average price is $167.95 and its two-hundred day moving average price is $195.40. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, sell-side 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 related news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction on Friday, February 28th. The stock was 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 directly owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently modified their holdings of the stock. Siemens Fonds Invest GmbH raised its holdings in First Solar by 147.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock worth $484,000 after buying an additional 1,640 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in First Solar in the 4th quarter worth approximately $43,442,000. Mackenzie Financial Corp lifted its position in First Solar by 4.7% in the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after acquiring an additional 738 shares in the last quarter. Amiral Gestion purchased a new stake in First Solar during the 4th quarter valued at $529,000. Finally, Wormser Freres Gestion increased its holdings in shares of First Solar by 54.7% in the 4th quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock worth $195,000 after purchasing an additional 378 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.