First Solar (NASDAQ:FSLR) Shares Down 4.8%

First Solar, Inc. (NASDAQ:FSLR) shares fell 4.8% on Wednesday . The company traded as low as $228.80 and last traded at $229.12. 324,090 shares changed hands during trading, a decline of 86% from the average session volume of 2,368,443 shares. The stock had previously closed at $240.66.

Analysts Set New Price Targets

Several research firms have recently issued reports on FSLR. Clarkson Capital initiated coverage on shares of First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target for the company. UBS Group lifted their target price on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays increased their price target on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Thursday, August 1st. Finally, BMO Capital Markets lowered their price target on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $284.12.

First Solar Stock Performance

The stock has a market cap of $25.28 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 0.42 and a beta of 1.44. The company’s fifty day simple moving average is $226.45 and its two-hundred day simple moving average is $217.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65.

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

Insider Activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock valued at $2,405,757 over the last 90 days. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors LLC grew its position 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 valued at $31,000 after buying an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar during the 1st quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar during the 4th quarter worth approximately $27,000. Summit Securities Group LLC bought a new stake in shares of First Solar in the 2nd quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. purchased a new position in First Solar in the second quarter valued at approximately $38,000. 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.