First Solar Inc. (NASDAQ:FSLR)’s share price fell 9.6% during trading on Thursday . The company traded as low as $44.33 and last traded at $44.40, with a volume of 7,227,343 shares trading hands. The stock had previously closed at $49.13.

Several equities research analysts recently issued reports on the stock. Robert W. Baird reissued an “outperform” rating and issued a $60.00 target price (down previously from $68.00) on shares of First Solar in a research report on Friday. Deutsche Bank AG downgraded shares of First Solar from a “buy” rating to a “hold” rating and dropped their target price for the stock from $80.00 to $44.00 in a research report on Thursday. Vetr downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $55.00 target price for the company. in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of First Solar in a research report on Monday, June 27th. Finally, Wells Fargo & Co. started coverage on shares of First Solar in a research report on Wednesday, June 1st. They issued a “market perform” rating and a $40.25 target price for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $68.20.

The stock has a market capitalization of $4.66 billion and a price-to-earnings ratio of 6.00. The stock has a 50 day moving average of $48.59 and a 200-day moving average of $59.84.

First Solar (NASDAQ:FSLR) last released its earnings results on Wednesday, April 27th. The solar cell manufacturer reported $1.66 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.73. The firm earned $848 million during the quarter, compared to the consensus estimate of $962.87 million. During the same period in the prior year, the business posted ($0.62) earnings per share. First Solar’s quarterly revenue was up 80.7% compared to the same quarter last year. On average, analysts anticipate that First Solar Inc. will post $4.31 earnings per share for the current year.

In other First Solar news, CTO Raffi Garabedian sold 2,467 shares of First Solar stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $61.25, for a total transaction of $151,103.75. Following the completion of the transaction, the chief technology officer now directly owns 2,007 shares of the company’s stock, valued at $122,928.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy Brian Rebhorn sold 18,335 shares of First Solar stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $60.98, for a total transaction of $1,118,068.30. Following the transaction, the executive vice president now directly owns 12,644 shares of the company’s stock, valued at $771,031.12. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently bought and sold shares of the stock. Russell Frank Co increased its position in First Solar by 5.0% in the fourth quarter. Russell Frank Co now owns 46,213 shares of the solar cell manufacturer’s stock worth $3,096,000 after buying an additional 2,214 shares during the period. California State Teachers Retirement System increased its position in shares of First Solar by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 144,421 shares of the solar cell manufacturer’s stock valued at $9,530,000 after buying an additional 2,247 shares during the last quarter. Swiss National Bank increased its position in shares of First Solar by 0.5% in the fourth quarter. Swiss National Bank now owns 103,300 shares of the solar cell manufacturer’s stock valued at $6,817,000 after buying an additional 500 shares during the last quarter. Rhumbline Advisers increased its position in shares of First Solar by 2.4% in the fourth quarter. Rhumbline Advisers now owns 97,511 shares of the solar cell manufacturer’s stock valued at $6,435,000 after buying an additional 2,322 shares during the last quarter. Finally, LSV Asset Management acquired a new position in shares of First Solar during the fourth quarter valued at approximately $2,567,000.

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.

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