First Solar (NASDAQ:FSLR) share price down 6.4%

First Solar, Inc. (NASDAQ:FSLR – Free Report) shares lost 6.4% on Friday. The company traded as low as $233.61 and was last seen at $233.91. About 1,611,090 shares traded hands during midday trading, a 34% decline from the average daily volume of 2,454,740 shares. The stock previously closed at $249.92.

Upgrades and downgrades by analysts

Several analysts have recently commented on FSLR shares. Deutsche Bank Aktiengesellschaft raised 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 reiterated a “neutral” rating and issued a price target of $274.00 (was $209.00) on shares of First Solar in a research note on Thursday, May 30th. BMO Capital Markets increased 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 increased 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 “Equal Weight” to “Overweight” and raised their price target for the company from $187.00 to $250.00 in a research report on Friday, April 19. Five analysts have rated the stock with a “Hold” rating and 21 have given the company’s stock a “Buy” rating. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $267.52.

Check out our latest analysis on FSLR

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 PEG 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 company has a 50 day moving average price of $232.57 and a 200 day moving average price of $185.22.

First Solar (NASDAQ:FSLR – Get Free Report) last released its quarterly earnings results on Wednesday, May 1. The solar panel maker reported earnings per share of $2.20 for the quarter, beating the consensus estimate of $1.90 by $0.30. The company posted revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. First Solar generated return on equity of 16.24% and net margin of 28.75%. The company’s revenue grew 44.8% during the quarter compared to the year-ago quarter. In the year-ago quarter, the company reported earnings per share of $0.40. As a group, equities analysts forecast that First Solar, Inc. will report earnings per share of $13.59 for the current fiscal year.

Insider activity

In related news, CFO Alexander R. Bradley sold 16,051 shares of the company’s stock in a transaction that occurred on Thursday, May 30. The shares were 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 of the company’s stock, 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 company’s stock in a transaction that occurred on Thursday, May 30. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the sale, the CFO now owns 30,652 shares of the company’s stock, 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 company’s stock on Monday, April 1. 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 of the company’s stock, valued at approximately $6,756,892.64. The disclosure of this sale can be found here. In the last 90 days, insiders sold 57,890 shares of the company’s stock, valued at $13,709,131. 0.58% of the shares are owned by insiders.

Institutional inflows and outflows

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

First Solar Company Profile

(Get free report)

First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile and worldwide. The company manufactures and sells PV solar modules using thin-film semiconductor technology that provide a lower-carbon alternative to traditional crystalline silicon PV solar modules.