First Solar (NASDAQ:FSLR) Stock Price Down 3.7% – Time to Sell?

First Solar, Inc. (NASDAQ:FSLR)’s share price dropped 3.7% during trading on Wednesday . The company traded as low as $126.51 and last traded at $126.57. Approximately 1,069,351 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 2,580,322 shares. The stock had previously closed at $131.46.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FSLR shares. Roth Mkm reissued a “buy” rating and set a $280.00 target price on shares of First Solar in a research report 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. Truist Financial reaffirmed a “buy” rating and set a $285.00 price target (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, Barclays dropped their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Trading Up 0.6 %

The stock has a market cap of $13.63 billion, a PE ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The company’s fifty day moving average is $151.59 and its 200-day moving average is $185.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 599 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, valued at $6,114,648.75. The trade was a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were 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 approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 in the last three months. Company 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 FSLR. Wealth Enhancement Advisory Services LLC increased its position in shares of First Solar by 3.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock worth $1,081,000 after purchasing an additional 222 shares in the last quarter. Lighthouse Financial LLC purchased a new stake in shares of First Solar during the fourth quarter worth $363,000. Siemens Fonds Invest GmbH raised its position in shares of 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 valued at $484,000 after buying an additional 1,640 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of First Solar in the fourth quarter worth about $43,442,000. Finally, Mackenzie Financial Corp boosted its position in First Solar by 4.7% during the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after acquiring an additional 738 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.