First Solar (NASDAQ:FSLR) Sees Strong Trading Volume - Time to Buy?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) saw unusually-high trading volume on Monday . Approximately 8,972,888 shares were traded during trading, an increase of 207% from the previous session's volume of 2,924,006 shares.The stock last traded at $151.69 and had previously closed at $140.68.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FSLR shares. Guggenheim reduced their price objective on shares of First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Susquehanna dropped their target price on shares of First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a report on Monday, April 14th. Bank of America lowered their price objective on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, Barclays lowered their target price on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $224.48.

First Solar Price Performance

The stock has a market cap of $20.18 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.19 and a beta of 1.46. The company's 50 day simple moving average is $133.12 and its 200 day simple moving average is $163.65. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 earnings per share. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Georges Antoun sold 229 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the sale, the insider now owns 52,836 shares in the company, valued at approximately $7,066,815. The trade was a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at $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 34,311 shares of company stock valued at $4,767,158 in the last quarter. Company insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in First Solar by 20.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,104 shares of the solar cell manufacturer's stock worth $1,252,000 after acquiring an additional 1,192 shares during the last quarter. Czech National Bank lifted its stake in shares of First Solar by 6.4% in the fourth quarter. Czech National Bank now owns 23,213 shares of the solar cell manufacturer's stock worth $4,091,000 after buying an additional 1,401 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of First Solar during the fourth quarter valued at $705,000. Assenagon Asset Management S.A. raised its position in First Solar by 340.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 206,743 shares of the solar cell manufacturer's stock worth $36,436,000 after buying an additional 159,845 shares during the last quarter. Finally, Mirador Capital Partners LP lifted its stake in First Solar by 34.6% during the 4th quarter. Mirador Capital Partners LP now owns 2,275 shares of the solar cell manufacturer's stock valued at $401,000 after acquiring an additional 585 shares during the period. 92.08% of the stock is currently 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.