Short Interest in First Solar, Inc. (NASDAQ:FSLR) Expands By 10.2%

First Solar, Inc. (NASDAQ:FSLR) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 4,770,000 shares, an increase of 10.2% from the August 31st total of 4,330,000 shares. Based on an average daily volume of 2,230,000 shares, the short-interest ratio is presently 2.1 days. Approximately 4.7% of the company’s shares are sold short.

First Solar Price Performance

NASDAQ:FSLR traded down $8.78 during mid-day trading on Tuesday, hitting $240.66. The company’s stock had a trading volume of 3,036,382 shares, compared to its average volume of 2,379,242. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $226.10 and a 200-day moving average of $217.30. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 0.42 and a beta of 1.44. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. During the same quarter in the previous year, the firm earned $1.85 EPS. First Solar’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities analysts forecast that First Solar will post 13.62 EPS for the current fiscal year.

Analyst Ratings Changes

FSLR has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Truist Financial started coverage on First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective on the stock. Piper Sandler lifted their target price on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, The Goldman Sachs Group upped their price objective on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,885 shares of company stock worth $2,405,757. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several large investors have recently made changes to their positions in the company. Electron Capital Partners LLC lifted its holdings in First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after purchasing an additional 7,660,409 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after acquiring an additional 351,540 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after acquiring an additional 279,719 shares in the last quarter. Anomaly Capital Management LP bought a new stake in First Solar during the 2nd quarter worth approximately $53,752,000. Finally, Canada Pension Plan Investment Board grew its position in First Solar by 2,429.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after acquiring an additional 167,629 shares during the last quarter. 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.