First Solar, Inc. (NASDAQ:FSLR – Get Rating) was up 4.2% during mid-day trading on Monday after Guggenheim raised their price target on the stock from $200.00 to $233.00. The stock traded as high as $139.09 and last traded at $138.21. Approximately 19,825 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 2,122,067 shares. The stock had previously closed at $132.67.
A number of other equities analysts have also recently commented on the company. Bank of America increased their target price on First Solar from $138.00 to $165.00 and gave the company a “buy” rating in a report on Monday. Cowen increased their price objective on First Solar from $167.00 to $175.00 in a research note on Friday. UBS Group upped their target price on shares of First Solar from $76.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday. Susquehanna Bancshares raised their price target on shares of First Solar from $120.00 to $175.00 in a research note on Friday, September 9th. Finally, Piper Sandler lowered their price target on shares of First Solar from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.55.
Insider Activity
In related news, Director Michael T. Sweeney sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $100.03, for a total transaction of $650,195.00. Following the completion of the sale, the director now directly owns 25,869 shares of the company’s stock, valued at approximately $2,587,676.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Patrick James Buehler acquired 489 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were purchased at an average price of $102.10 per share, for a total transaction of $49,926.90. Following the acquisition, the insider now owns 4,117 shares of the company’s stock, valued at $420,345.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael T. Sweeney sold 6,500 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $100.03, for a total value of $650,195.00. Following the transaction, the director now directly owns 25,869 shares in the company, valued at approximately $2,587,676.07. The disclosure for this sale can be found here. Insiders have sold a total of 8,941 shares of company stock valued at $948,528 in the last quarter. Insiders own 0.54% of the company’s stock.
Institutional Trading of First Solar
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ellevest Inc. increased its stake in First Solar by 53.3% during the 1st quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 130 shares during the period. Field & Main Bank increased its position in shares of First Solar by 625.0% during the first quarter. Field & Main Bank now owns 580 shares of the solar cell manufacturer’s stock worth $49,000 after acquiring an additional 500 shares during the period. Inspire Investing LLC acquired a new stake in shares of First Solar in the first quarter valued at $287,000. Strs Ohio purchased a new position in First Solar in the first quarter valued at $1,272,000. Finally, Louisiana State Employees Retirement System grew its stake in First Solar by 2.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,900 shares of the solar cell manufacturer’s stock worth $1,992,000 after purchasing an additional 500 shares in the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.
First Solar Trading Up 7.1 %
The company has a current ratio of 4.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.03. The company has a market cap of $15.15 billion, a PE ratio of 150.76 and a beta of 1.28. The company has a fifty day simple moving average of $128.93 and a two-hundred day simple moving average of $95.25.
First Solar (NASDAQ:FSLR – Get Rating) last released its earnings results on Thursday, October 27th. The solar cell manufacturer reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.30). First Solar had a return on equity of 1.60% and a net margin of 3.75%. The firm had revenue of $629.00 million for the quarter, compared to analysts’ expectations of $747.97 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts anticipate that First Solar, Inc. will post -0.5 EPS for the current year.
First Solar Company Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.