First Solar (NASDAQ:FSLR) Shares Up 4.8%

First Solar, Inc. (NASDAQ:FSLR) traded up 4.8% during trading on Wednesday . The company traded as high as $183.65 and last traded at $181.41. 2,006,371 shares were traded during mid-day trading, a decline of 2% from the average session volume of 2,056,438 shares. The stock had previously closed at $173.08.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Roth Mkm reissued a “buy” rating and issued a $230.00 price objective on shares of First Solar in a research note on Thursday. Mizuho upped their target price on shares of First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Oppenheimer restated an “outperform” rating and issued a $269.00 target price on shares of First Solar in a report on Wednesday. Finally, Susquehanna restated a “positive” rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.68.

First Solar Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The company’s 50-day simple moving average is $160.86 and its 200-day simple moving average is $156.05. The company has a market cap of $18.74 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 0.31 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) earnings per share. On average, equities research analysts anticipate that First Solar, Inc. will post 13.55 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Markus Gloeckler sold 1,937 shares of First Solar stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $175.00, for a total transaction of $338,975.00. Following the transaction, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at $2,193,800. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock valued at $4,269,540 over the last 90 days. 0.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar in the 1st quarter worth about $25,000. First Pacific Financial purchased a new position in First Solar in the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Managment Co. purchased a new position in First Solar in the 4th quarter worth about $27,000. Estabrook Capital Management purchased a new position in First Solar in the 3rd quarter worth about $29,000. Finally, Baystate Wealth Management LLC purchased a new position in First Solar in the 4th quarter worth about $29,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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.