First Solar (NASDAQ:FSLR) Shares Down 3.1%

First Solar, Inc. (NASDAQ:FSLR)’s stock price fell 3.1% during trading on Monday . The company traded as low as $264.30 and last traded at $265.18. 587,388 shares changed hands during trading, a decline of 76% from the average session volume of 2,412,084 shares. The stock had previously closed at $273.61.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of recent research reports. Roth Mkm reissued a “buy” rating and issued a $320.00 price objective (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. The Goldman Sachs Group boosted their price target on First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Morgan Stanley raised their price objective on First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Barclays upped their target price on First Solar from $227.00 to $228.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, Bank of America raised their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $265.72.

First Solar Stock Down 6.8 %

The stock’s fifty day simple moving average is $217.49 and its two-hundred day simple moving average is $178.13. The stock has a market capitalization of $27.31 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 0.36 and a beta of 1.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. First Solar’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, research analysts expect that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 2,400 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Michael T. Sweeney sold 4,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $273.50, for a total transaction of $1,094,000.00. Following the transaction, the director now owns 16,692 shares in the company, valued at approximately $4,565,262. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 2,400 shares of the company’s 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 transaction, the insider now owns 37,412 shares in the company, valued at approximately $6,584,512. The disclosure for this sale can be found here. Insiders have sold a total of 56,269 shares of company stock valued at $13,287,671 over the last ninety days. 0.58% of the stock is owned by company insiders.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar in the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in First Solar during the 4th quarter valued at $27,000. Estabrook Capital Management acquired a new position in First Solar during the third quarter worth $29,000. Baystate Wealth Management LLC acquired a new position in First Solar during the fourth quarter worth $29,000. Finally, Headinvest LLC acquired a new position in shares of First Solar during the third quarter valued at about $30,000. 92.08% of the stock is owned by institutional investors.

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.