First Solar (NASDAQ:FSLR) Shares Up 4.6% – Here’s What Happened

First Solar, Inc. (NASDAQ:FSLR) shares rose 4.6% during mid-day trading on Tuesday . The company traded as high as $140.95 and last traded at $139.22. Approximately 985,310 shares were traded during trading, a decline of 64% from the average daily volume of 2,701,062 shares. The stock had previously closed at $133.11.

Analyst Ratings Changes

Several analysts have recently weighed in on FSLR shares. Redburn Atlantic assumed coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Robert W. Baird decreased their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, UBS Group lowered their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

The business has a 50-day moving average price of $166.18 and a 200-day moving average price of $193.80. 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 firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 0.19 and a beta of 1.52.

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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction dated 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 sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,739 shares of company stock valued at $4,289,403 in the last three months. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Institutional investors have recently bought and sold shares of the business. Clear Harbor Asset Management LLC increased its stake in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after acquiring an additional 55 shares during the period. Doliver Advisors LP grew its position in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after purchasing an additional 56 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 buying an additional 63 shares during the last quarter. Independent Advisor Alliance lifted its holdings in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after buying an additional 63 shares during the period. Finally, Sigma Planning Corp boosted its stake in shares of First Solar by 4.8% in the third quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock worth $362,000 after buying an additional 67 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other 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.