First Solar (NASDAQ:FSLR) Shares Down 4.8% - Here's Why

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) were down 4.8% during mid-day trading on Monday . The company traded as low as $149.11 and last traded at $150.51. Approximately 1,364,046 shares traded hands during trading, a decline of 55% from the average daily volume of 3,044,768 shares. The stock had previously closed at $158.08.

Wall Street Analyst Weigh In

FSLR has been the topic of several research analyst reports. UBS Group reaffirmed a "buy" rating and issued a $255.00 price target on shares of First Solar in a research report on Wednesday, May 14th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $157.00 target price (up previously from $127.00) on shares of First Solar in a report on Thursday, May 22nd. Susquehanna cut their price target on First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on 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, The Goldman Sachs Group boosted their target price on shares of First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average target price of $227.94.

First Solar Stock Up 1.5%

The stock has a market capitalization of $17.84 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.19 and a beta of 1.53. 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 firm's fifty day moving average is $143.19 and its 200-day moving average is $159.79.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results 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 firm had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. As a group, equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the transaction, the insider now directly owns 11,369 shares in the company, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares of the company's stock, valued at approximately $7,066,815. This represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,948 shares of company stock valued at $2,704,927. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after acquiring an additional 34,074 shares during the period. RWC Asset Management LLP bought a new position in shares of First Solar in the 4th quarter valued at about $16,745,000. Bank of New York Mellon Corp grew its position in shares of First Solar by 9.9% during the 4th quarter. Bank of New York Mellon Corp now owns 711,688 shares of the solar cell manufacturer's stock worth $125,428,000 after buying an additional 63,820 shares during the period. Ethic Inc. raised its stake in shares of First Solar by 34.2% during the fourth quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock worth $3,138,000 after buying an additional 4,542 shares during the last quarter. Finally, Mader & Shannon Wealth Management Inc. lifted its holdings in First Solar by 69.7% in the fourth quarter. Mader & Shannon Wealth Management Inc. now owns 14,363 shares of the solar cell manufacturer's stock valued at $2,531,000 after buying an additional 5,897 shares during the period. Institutional investors and hedge funds 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.