First Solar (NASDAQ:FSLR) Trading Down 1.1% – Should You Sell?

Shares of First Solar, Inc. (NASDAQ:FSLR) were down 1.1% on Thursday . The stock traded as low as $134.77 and last traded at $134.58. Approximately 347,462 shares were traded during trading, a decline of 87% from the average daily volume of 2,699,785 shares. The stock had previously closed at $136.04.

Analyst Ratings Changes

Several research analysts have recently weighed in on FSLR shares. JPMorgan Chase & Co. reduced their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Piper Sandler reduced their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird reduced their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Roth Mkm reaffirmed a “buy” rating and set a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. Finally, Bank of America reduced their price target on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Performance

The stock has a 50 day moving average price of $162.48 and a two-hundred day moving average price of $191.64. 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 company has a market cap of $14.19 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares in the company, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,739 shares of company stock worth $4,289,403. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Strengthening Families & Communities LLC acquired a new position in First Solar during the 3rd quarter worth about $25,000. Larson Financial Group LLC raised its position in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of First Solar by 31.7% in 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. Crews Bank & Trust bought a new position in shares of First Solar in the 4th quarter worth about $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar in the 4th quarter worth about $53,000. 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.