First Solar (NASDAQ:FSLR) Trading Down 5.6% - Time to Sell?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) shares fell 5.6% during trading on Monday . The company traded as low as $122.48 and last traded at $123.24. 1,059,834 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 2,850,881 shares. The stock had previously closed at $130.54.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FSLR shares. Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 price objective on the stock in a research report on Thursday, May 1st. Piper Sandler reduced their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. TD Cowen dropped their price objective on shares of First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Barclays reduced their target price on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Finally, UBS Group dropped their price target on shares of First Solar from $240.00 to $235.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $223.87.

First Solar Price Performance

The business has a 50-day moving average of $130.02 and a 200 day moving average of $164.82. 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 firm has a market capitalization of $13.68 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46.

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

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 229 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 over the last ninety days. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently modified their holdings of FSLR. Garde Capital Inc. bought a new position in First Solar during the first quarter valued at $25,000. Larson Financial Group LLC grew its stake in shares of First Solar by 591.9% during 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 period. Abound Financial LLC purchased a new stake in First Solar in the 1st quarter worth about $45,000. Smartleaf Asset Management LLC raised its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after acquiring an additional 63 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new stake in First Solar during the first quarter valued at about $51,000. Hedge funds and other 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.