First Solar (NASDAQ:FSLR) Stock Price Down 4.8%

First Solar, Inc. (NASDAQ:FSLR)’s share price dropped 4.8% during mid-day trading on Wednesday . The company traded as low as $228.80 and last traded at $229.12. Approximately 324,090 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 2,368,443 shares. The stock had previously closed at $240.66.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FSLR. Robert W. Baird cut their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Thursday, August 1st. Truist Financial initiated coverage on shares of First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. UBS Group raised their price target on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Clarkson Capital initiated coverage on First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $284.12.

First Solar Trading Down 1.9 %

The stock has a 50 day moving average of $226.45 and a 200 day moving average of $217.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The firm has a market cap of $25.28 billion, a P/E ratio of 24.02, a PEG ratio of 0.42 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. As a group, equities research analysts predict that First Solar, Inc. will post 13.62 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were 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 directly owns 3,468 shares of the company’s stock, valued at $769,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

A number of institutional investors have recently modified their holdings of FSLR. Oregon Public Employees Retirement Fund raised its position in First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after purchasing an additional 49 shares during the last quarter. Cambridge Trust Co. raised its holdings in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after acquiring an additional 50 shares in the last quarter. Great Diamond Partners LLC lifted its stake in First Solar by 3.8% in the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after acquiring an additional 53 shares during the period. Xponance Inc. boosted its holdings in First Solar by 0.4% in the second quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer’s stock valued at $3,460,000 after acquiring an additional 56 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after purchasing an additional 62 shares during the period. 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.