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

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $167.22, but opened at $161.65. First Solar shares last traded at $161.05, with a volume of 672,595 shares traded.

Analyst Ratings Changes

A number of analysts have weighed in on FSLR shares. Roth Mkm restated a "buy" rating and set a $280.00 price objective on shares of First Solar in a research note on Wednesday, February 26th. BMO Capital Markets decreased their price objective on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group increased their target price on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Glj Research raised First Solar from a "hold" rating to a "buy" rating and set a $172.37 target price for the company in a report on Thursday, May 1st. Finally, Susquehanna dropped their price objective on First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Two 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.37.

First Solar Price Performance

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 stock has a market capitalization of $16.99 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. The firm has a 50 day moving average price of $137.94 and a 200 day moving average price of $161.43.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 17.56% and a net margin of 32.41%. The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This trade represents a 1.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now directly owns 45,717 shares of the company's stock, valued at approximately $6,114,648.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of First Solar by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock valued at $1,668,919,000 after acquiring an additional 378,641 shares during the last quarter. Wellington Management Group LLP lifted its stake in First Solar by 17.2% in the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock worth $349,617,000 after purchasing an additional 405,457 shares during the last quarter. Geode Capital Management LLC lifted its stake in First Solar by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after purchasing an additional 63,739 shares during the last quarter. Invesco Ltd. lifted its stake in First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after purchasing an additional 592,444 shares during the last quarter. Finally, Amundi lifted its stake in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after purchasing an additional 426,797 shares during the last quarter. Institutional investors 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.