First Solar (NASDAQ:FSLR) Trading Up 8.9% Following Analyst Upgrade

First Solar, Inc. (NASDAQ:FSLR)’s stock price rose 8.9% on Wednesday after Royal Bank Of Canada raised their price target on the stock from $188.00 to $200.00. Royal Bank Of Canada currently has an outperform rating on the stock. First Solar traded as high as $178.31 and last traded at $177.40. Approximately 3,485,415 shares traded hands during trading, an increase of 8% from the average daily volume of 3,213,272 shares. The stock had previously closed at $162.96.

Several other analysts have also issued reports on FSLR. Jefferies Financial Group raised shares of First Solar from a “hold” rating to a “buy” rating and upped their price target for the stock from $157.00 to $192.00 in a research report on Wednesday, June 11th. Wall Street Zen downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. BMO Capital Markets reduced their price target on First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Glj Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $172.37 price objective on the stock in a research note on Thursday, May 1st. Finally, Bank of America cut their price objective on First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.69.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 1,868 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the transaction, the insider owned 5,998 shares in the company, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Koralewski sold 2,951 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares of the company’s stock, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,376 shares of company stock valued at $2,227,172. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of First Solar

A number of institutional investors and hedge funds have recently made changes to their positions in FSLR. Garde Capital Inc. bought a new position in First Solar in the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of First Solar in the 1st quarter valued at $25,000. Harbor Investment Advisory LLC increased its stake in shares of First Solar by 138.9% in the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after buying an additional 219 shares in the last quarter. Finally, Colonial Trust Advisors bought a new stake in shares of First Solar during the 1st quarter worth $32,000. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 4.6%

The firm has a 50-day moving average of $154.81 and a two-hundred day moving average of $154.89. The firm has a market capitalization of $18.29 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.33 and a beta of 1.52. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 16.32% and a net margin of 29.72%. The company had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same period last year, the company posted $2.20 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

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.