First Solar (NASDAQ:FSLR) Stock Price Up 0.7%

First Solar, Inc. (NASDAQ:FSLR) traded up 0.7% during mid-day trading on Wednesday . The stock traded as high as $231.27 and last traded at $226.72. 378,223 shares changed hands during trading, a decline of 85% from the average session volume of 2,490,693 shares. The stock had previously closed at $225.23.

Analyst Upgrades and Downgrades

FSLR has been the topic of several research reports. Jefferies Financial Group upped their price target on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. BMO Capital Markets upped their price objective on First Solar from $224.00 to $311.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. The Goldman Sachs Group boosted their price target on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Roth Mkm reiterated a “buy” rating and issued a $320.00 price objective (up from $230.00) on shares of First Solar in a research report on Friday, May 31st. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $271.92.

First Solar Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The stock has a market capitalization of $25.26 billion, a P/E ratio of 24.47, a PEG ratio of 0.30 and a beta of 1.44. The stock’s fifty day moving average is $241.28 and its 200-day moving average is $188.94.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. During the same quarter last year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities analysts anticipate that First Solar, Inc. will post 13.63 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $922,740. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the sale, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the transaction, the insider now owns 3,549 shares of the company’s stock, valued at approximately $922,740. The disclosure for this sale can be found here. Insiders have sold 51,153 shares of company stock valued at $12,540,428 in the last 90 days. 0.58% of the stock is currently owned by insiders.

Institutional Trading of First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar in the 1st quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in First Solar during the fourth quarter worth about $27,000. Baystate Wealth Management LLC acquired a new stake in shares of First Solar during the fourth quarter worth approximately $29,000. Riverview Trust Co bought a new position in shares of First Solar in the first quarter valued at approximately $32,000. Finally, Headinvest LLC acquired a new position in shares of First Solar in the 3rd quarter worth approximately $30,000. Institutional investors own 92.08% of the company’s stock.

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.