Short Interest in First Solar, Inc. (NASDAQ:FSLR) Expands By 10.2%

First Solar, Inc. (NASDAQ:FSLR) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 4,770,000 shares, a growth of 10.2% from the August 31st total of 4,330,000 shares. Based on an average trading volume of 2,230,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 4.7% of the company’s stock are sold short.

First Solar Stock Performance

First Solar stock traded down $8.78 during mid-day trading on Tuesday, hitting $240.66. 3,036,382 shares of the company’s stock traded hands, compared to its average volume of 2,379,242. First Solar has a one year low of $129.21 and a one year high of $306.77. The company has a market cap of $25.76 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. The firm has a 50 day moving average price of $226.10 and a 200 day moving average price of $217.30. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same quarter in the prior year, the firm posted $1.85 EPS. First Solar’s revenue was up 24.6% compared to the same quarter last year. On average, equities analysts forecast that First Solar will post 13.62 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on FSLR shares. Royal Bank of Canada restated an “outperform” rating and set a $315.00 price objective on shares of First Solar in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Thursday, August 1st. Bank of America upped their target price on shares of First Solar from $320.00 to $343.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler lifted their price target on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Large investors have recently made changes to their positions in the business. Atlas Capital Advisors LLC boosted its holdings in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar in the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar during the fourth quarter worth $27,000. Summit Securities Group LLC purchased a new stake in shares of First Solar during the second quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of First Solar during the second quarter valued at $38,000. 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.