First Solar (NASDAQ:FSLR) Stock Price Down 6.4%

Shares of First Solar, Inc. (NASDAQ:FSLR) were down 6.4% during trading on Friday . The company traded as low as $233.61 and last traded at $233.91. Approximately 1,611,090 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 2,454,740 shares. The stock had previously closed at $249.92.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FSLR shares. Deutsche Bank Aktiengesellschaft upped their price target on First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Friday. Mizuho reaffirmed a “neutral” rating and issued a $274.00 price target (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. BMO Capital Markets upped their price target on First Solar from $224.00 to $311.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Morgan Stanley upped their price target on First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $267.52.

First Solar Trading Down 9.8 %

The company has a market cap of $24.13 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 0.33 and a beta of 1.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The firm has a fifty day moving average price of $232.57 and a 200 day moving average price of $185.22.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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. The company had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, equities analysts predict that First Solar, Inc. will post 13.59 EPS for the current fiscal year.

Insider Activity

In related news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the sale, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the sale, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 2,400 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $169.72, for a total value of $407,328.00. Following the completion of the sale, the insider now owns 39,812 shares in the company, valued at approximately $6,756,892.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,890 shares of company stock valued at $13,709,131. 0.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar during the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar during the 4th quarter worth $27,000. Baystate Wealth Management LLC bought a new position in First Solar during the 4th quarter worth $29,000. Riverview Trust Co bought a new position in First Solar during the 1st quarter worth $32,000. Finally, Headinvest LLC bought a new position in First Solar during the 3rd quarter worth $30,000. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

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.