First Solar (NASDAQ:FSLR) Stock Price Up 1.5%

Shares of First Solar, Inc. (NASDAQ:FSLR) shot up 1.5% on Monday . The stock traded as high as $231.99 and last traded at $225.51. 848,808 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 2,503,551 shares. The stock had previously closed at $222.12.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FSLR shares. BMO Capital Markets upped their price objective on First Solar from $224.00 to $311.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Mizuho restated a “neutral” rating and set a $274.00 price objective (up previously from $209.00) on shares of First Solar in a report on Thursday, May 30th. UBS Group lifted their price objective on shares of First Solar from $270.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $315.00 price target on shares of First Solar in a report on Monday. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.92.

First Solar Stock Performance

The company has a market capitalization of $24.47 billion, a P/E ratio of 23.96, a PEG ratio of 0.30 and a beta of 1.44. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average is $239.20 and its two-hundred day moving average is $188.35.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. Equities analysts anticipate that First Solar, Inc. will post 13.58 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Craig Kennedy sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $196.73, for a total value of $393,460.00. Following the completion of the sale, the director now directly owns 13,908 shares of the company’s stock, valued at approximately $2,736,120.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,153 shares of company stock worth $12,540,428. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FSLR. Vanguard Group Inc. raised its holdings in First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after buying an additional 105,236 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of First Solar by 11.1% during the first 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 purchasing an additional 279,719 shares during the period. Schroder Investment Management Group grew 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 worth $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Wellington Management Group LLP increased its holdings in First Solar by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock valued at $369,024,000 after purchasing an additional 211,755 shares during the period. Finally, Norges Bank bought a new position in First Solar during the 4th quarter valued at approximately $298,123,000. Institutional investors own 92.08% of the company’s stock.

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.