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

Key Points

• First Solar shares opened at $209.68, up from the previous close of $199.95, and last traded at $214.34 with a trading volume of 1,676,225 shares.
• Analysts have mixed ratings on First Solar, with twenty-two buy ratings and a consensus price target of $222.44, while one analyst has issued a sell rating.
• The company reported $3.18 EPS for the last quarter, exceeding estimates, and a revenue increase of 8.6% year-over-year.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $199.95, but opened at $209.68. First Solar shares last traded at $214.34, with a volume of 1,676,225 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Hsbc Global Res upgraded shares of First Solar to a "strong-buy" rating in a research report on Friday, August 1st. Truist Financial restated a "buy" rating and issued a $200.00 price target (down from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Glj Research restated a "buy" rating and issued a $214.06 price target (up from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.84.

First Solar Price Performance

The stock's 50-day moving average price is $175.17 and its 200-day moving average price is $155.25. The company has a market capitalization of $21.69 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 0.38 and a beta of 1.48. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $3.25 earnings per share. First Solar's quarterly revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities research analysts anticipate 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, CAO Nathan B. Theurer sold 686 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the insider directly owned 11,369 shares of the company's stock, valued at $1,798,689.49. The trade was a 20.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,691 shares of company stock valued at $8,248,477 over the last 90 days. Company insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On First Solar

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of First Solar by 0.4% in the second quarter. Vanguard Group Inc. now owns 13,257,849 shares of the solar cell manufacturer's stock valued at $2,194,704,000 after buying an additional 57,507 shares during the period. State Street Corp boosted its holdings in shares of First Solar by 2.1% in the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer's stock valued at $881,680,000 after buying an additional 111,927 shares during the period. Geode Capital Management LLC boosted its holdings in shares of First Solar by 0.9% in the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer's stock valued at $471,927,000 after buying an additional 26,476 shares during the period. Wellington Management Group LLP boosted its holdings in shares of 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 valued at $349,617,000 after buying an additional 405,457 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after buying an additional 592,444 shares during the period. 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.