First Solar (NASDAQ:FSLR) Shares Gap Up to $80.14

Shares of First Solar, Inc. (NASDAQ:FSLR) gapped up prior to trading on Monday . The stock had previously closed at $80.14, but opened at $83.13. First Solar shares last traded at $83.62, with a volume of 51,661 shares traded.

A number of brokerages have recently commented on FSLR. Bank of America lowered shares of First Solar from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Tuesday, December 29th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $88.00 to $100.00 in a report on Monday. Roth Capital boosted their target price on shares of First Solar from $110.00 to $120.00 in a report on Monday, January 25th. Finally, The Goldman Sachs Group decreased their price objective on shares of First Solar from $81.00 to $69.00 in a report on Friday, February 26th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $91.78.

The business’s fifty day moving average is $80.80 and its 200-day moving average is $88.94. The firm has a market cap of $8.44 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.05 and a current ratio of 3.83.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, February 25th. The solar cell manufacturer reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.19). The firm had revenue of $609.23 million for the quarter, compared to analyst estimates of $713.59 million. First Solar had a net margin of 6.38% and a return on equity of 9.49%. During the same period in the prior year, the company posted $2.02 EPS. Analysts predict that First Solar, Inc. will post 3.94 EPS for the current fiscal year.

In other news, insider Michael Koralewski sold 1,822 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $73.57, for a total transaction of $134,044.54. Following the completion of the sale, the insider now owns 1,112 shares of the company’s stock, valued at approximately $81,809.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director R Craig Kennedy sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $79.59, for a total transaction of $43,774.50. Following the sale, the director now directly owns 25,648 shares of the company’s stock, valued at approximately $2,041,324.32. The disclosure for this sale can be found here. Insiders have sold a total of 39,543 shares of company stock valued at $3,069,548 in the last three months. Insiders own 0.54% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of First Solar by 2,272.7% in the 4th quarter. IFP Advisors Inc now owns 261 shares of the solar cell manufacturer’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Capital Asset Advisory Services LLC bought a new position in shares of First Solar in the 4th quarter worth $26,000. Accel Wealth Management bought a new position in shares of First Solar in the 4th quarter worth $30,000. Atticus Wealth Management LLC lifted its holdings in shares of First Solar by 75.0% in the 4th quarter. Atticus Wealth Management LLC now owns 350 shares of the solar cell manufacturer’s stock worth $35,000 after purchasing an additional 150 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of First Solar by 219.2% in the 4th quarter. Advisory Services Network LLC now owns 415 shares of the solar cell manufacturer’s stock worth $41,000 after purchasing an additional 285 shares in the last quarter. 67.70% of the stock is owned by institutional investors.

First Solar Company Profile (NASDAQ:FSLR)

First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.

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