First Solar (NASDAQ:FSLR) Shares Gap Down - Should You Sell?

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 changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on FSLR. TD Cowen cut their target price on shares of First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Piper Sandler cut their price objective on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Jefferies Financial Group lowered shares of First Solar from a "buy" rating to a "hold" rating and reduced their price objective for the company from $202.00 to $127.00 in a research note on Wednesday, April 30th. Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 target price on the stock in a research report on Thursday, May 1st. Finally, Mizuho upgraded First Solar from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, five have issued 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 stock has a consensus rating of "Moderate Buy" and an average price target of $226.30.

First Solar Price Performance

The business's fifty day moving average price is $136.24 and its 200-day moving average price is $162.67. The company has a market capitalization of $17.62 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.19 and a beta of 1.46. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $844.57 million for the quarter, compared to analysts' expectations of $863.11 million. During the same quarter in the previous year, the business earned $2.20 EPS. The company's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the business's 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 completion of the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. The trade was a 17.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm's stock in a transaction that occurred on 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 owns 3,549 shares in the company, valued at approximately $484,793.40. The trade was a 67.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 over the last ninety days. Insiders own 0.48% of the company's stock.

Institutional Trading of First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Garde Capital Inc. bought a new position in shares of First Solar in the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new stake in First Solar during the 1st quarter valued at $25,000. Larson Financial Group LLC grew its holdings in First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares during the last quarter. Colonial Trust Advisors purchased a new position in shares of First Solar in the first quarter valued at about $32,000. Finally, Abound Financial LLC purchased a new position in shares of First Solar in the first quarter valued at about $45,000. Institutional investors own 92.08% of the company's stock.

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.

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