First Solar (NASDAQ:FSLR) Shares Up 4.8%

First Solar, Inc. (NASDAQ:FSLR)’s stock price shot up 4.8% during trading on Wednesday . The company traded as high as $183.65 and last traded at $181.41. 2,006,371 shares traded hands during trading, a decline of 2% from the average session volume of 2,056,438 shares. The stock had previously closed at $173.08.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FSLR. Bank of America increased their price target on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $187.00 to $250.00 in a report on Friday. Mizuho raised their target price on shares of First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Barclays raised their target price on shares of First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $195.00 target price on shares of First Solar in a report on Wednesday, February 28th. Three equities research 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 stock has an average rating of “Moderate Buy” and a consensus price target of $229.68.

First Solar Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The stock has a market capitalization of $18.74 billion, a P/E ratio of 22.88, a P/E/G ratio of 0.31 and a beta of 1.41. The company’s 50-day moving average price is $160.86 and its 200 day moving average price is $156.05.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted ($0.07) EPS. First Solar’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts expect that First Solar, Inc. will post 13.55 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the transaction, the insider now directly owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other First Solar news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now directly owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total transaction of $338,975.00. Following the completion of the sale, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at $2,193,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,620 shares of company stock valued at $4,269,540. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several large investors have recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar during the 1st quarter worth approximately $25,000. First Pacific Financial purchased a new stake in First Solar during the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in First Solar during the 4th quarter worth approximately $27,000. Estabrook Capital Management purchased a new stake in First Solar during the 3rd quarter worth approximately $29,000. Finally, Baystate Wealth Management LLC purchased a new stake in First Solar during the 4th quarter worth approximately $29,000. 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.