First Solar (NASDAQ:FSLR) Trading Up 6.2% – Still a Buy?

Shares of First Solar, Inc. (NASDAQ:FSLR) traded up 6.2% during mid-day trading on Wednesday . The stock traded as high as $248.78 and last traded at $249.59. 923,769 shares traded hands during trading, a decline of 60% from the average session volume of 2,291,294 shares. The stock had previously closed at $235.05.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FSLR. Evercore ISI increased their price objective on shares of First Solar from $240.90 to $241.00 in a report on Friday, October 31st. Royal Bank Of Canada upped their price objective on First Solar from $244.00 to $258.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. The Goldman Sachs Group restated a “buy” rating and set a $316.00 target price on shares of First Solar in a report on Friday, October 31st. Robert W. Baird boosted their target price on First Solar from $240.00 to $264.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Finally, Raymond James Financial began coverage on shares of First Solar in a research report on Monday, January 12th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.76.

First Solar Trading Up 6.1%

The firm has a market cap of $26.76 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 0.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The business has a 50-day moving average of $256.71 and a 200-day moving average of $228.91.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company’s quarterly revenue was up 79.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insiders Place Their Bets

In other news, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the transaction, the director directly owned 15,287 shares of the company’s stock, valued at approximately $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael T. Sweeney sold 4,500 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the transaction, the director owned 13,662 shares in the company, valued at $3,703,904.82. The trade was a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,912 shares of company stock worth $12,971,349 in the last quarter. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SFE Investment Counsel raised its position in shares of First Solar by 9.1% during the second quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock worth $11,556,000 after purchasing an additional 5,852 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of First Solar in the second quarter valued at about $1,323,000. State Street Corp increased its stake in First Solar by 2.1% in the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after buying an additional 111,927 shares during the last quarter. Greenup Street Wealth Management LLC bought a new stake in First Solar during the third quarter worth $2,147,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in First Solar by 49.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock worth $10,471,000 after purchasing an additional 20,884 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.