First Solar (NASDAQ:FSLR) Shares Gap Up - Time to Buy?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $152.14, but opened at $161.63. First Solar shares last traded at $160.11, with a volume of 1,473,752 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FSLR shares. Royal Bank Of Canada dropped their price objective on shares of First Solar from $237.00 to $214.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group increased their price target on shares of First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a report on Monday, May 19th. Robert W. Baird reduced their price objective on First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. UBS Group reiterated a "buy" rating and set a $255.00 target price on shares of First Solar in a research note on Wednesday, May 14th. Finally, Oppenheimer cut First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $229.19.

First Solar Stock Performance

The stock has a fifty day simple moving average of $152.61 and a two-hundred day simple moving average of $154.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. The stock has a market cap of $17.77 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.30 and a beta of 1.53.

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 for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The business had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same period last year, the business earned $2.20 earnings per share. The business's quarterly revenue was up 6.4% compared to the same quarter last year. Analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider now owns 11,369 shares in the company, valued at $1,798,689.49. The trade was a 20.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 1,868 shares of First Solar stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the sale, the insider now directly owns 5,998 shares in the company, valued at $894,181.84. The trade was a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,376 shares of company stock worth $2,227,172 in the last three months. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently added to or reduced their stakes in FSLR. Vanguard Group Inc. grew its stake in shares of First Solar by 3.0% in the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock worth $1,668,919,000 after purchasing an additional 378,641 shares during the last quarter. Wellington Management Group LLP lifted its holdings in First Solar by 17.2% during the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock worth $349,617,000 after buying an additional 405,457 shares during the period. Geode Capital Management LLC grew its position in shares of First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock valued at $469,154,000 after buying an additional 63,739 shares during the last quarter. Invesco Ltd. increased its stake 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. Finally, Amundi raised its position in shares of First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after acquiring an additional 426,797 shares during the last quarter. 92.08% of the stock is owned by 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.

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