First Solar (NASDAQ:FSLR) Shares Up 5.8% - Should You Buy?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) rose 5.8% on Friday . The company traded as high as $174.96 and last traded at $177.52. Approximately 1,439,733 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 3,052,007 shares. The stock had previously closed at $167.83.

Wall Street Analyst Weigh In

FSLR has been the topic of several recent research reports. Guggenheim reduced their price target on First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Roth Mkm restated a "buy" rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Robert W. Baird lowered their price objective on First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Oppenheimer downgraded shares of First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of First Solar from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, First Solar has an average rating of "Moderate Buy" and an average target price of $229.19.

First Solar Trading Up 5.1%

The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $146.68 and a 200-day simple moving average of $159.05. The company has a market cap of $18.92 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 0.19 and a beta of 1.53.

First Solar (NASDAQ:FSLR - Get Free Report) last released 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). 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 during the quarter, compared to analyst estimates of $863.11 million. During the same period in the prior year, the firm earned $2.20 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 229 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares of the company's stock, valued at $7,066,815. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 11,369 shares of the company's stock, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,948 shares of company stock worth $2,704,927 over the last 90 days. Company insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On First Solar

Institutional investors have recently bought and sold shares of the business. Garde Capital Inc. purchased a new position in shares of First Solar in the first quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar in the 1st quarter valued at approximately $25,000. Colonial Trust Advisors purchased a new position in shares of First Solar during the 1st quarter valued at approximately $32,000. Larson Financial Group LLC increased its stake in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after buying an additional 219 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after acquiring an additional 63 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.

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