First Solar Inc. (NASDAQ:FSLR) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 12,599,999 shares, a decrease of 14.6% from the August 15th total of 14,754,290 shares. Currently, 16.8% of the shares of the company are sold short. Based on an average daily volume of 2,750,101 shares, the short-interest ratio is currently 4.6 days.

Several analysts recently commented on FSLR shares. Vetr lowered First Solar from a “strong-buy” rating to a “buy” rating and set a $55.00 target price on the stock. in a report on Wednesday, July 6th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $67.00 target price on shares of First Solar in a report on Thursday, August 4th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $68.00 target price (down from $89.00) on shares of First Solar in a report on Friday, August 5th. Roth Capital reaffirmed a “buy” rating and set a $55.00 target price (down from $70.00) on shares of First Solar in a report on Friday, August 5th. Finally, Standpoint Research reaffirmed a “buy” rating and set a $54.00 target price on shares of First Solar in a report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company. First Solar currently has an average rating of “Hold” and an average target price of $58.83.

In related news, COO Philip Dejong sold 67,251 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $44.28, for a total transaction of $2,977,874.28. Following the sale, the chief operating officer now directly owns 45,499 shares of the company’s stock, valued at $2,014,695.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James Alton Hughes sold 180,448 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $44.43, for a total value of $8,017,304.64. Following the sale, the director now directly owns 201,577 shares in the company, valued at $8,956,066.11. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in FSLR. BOKF NA raised its position in shares of First Solar by 3.8% in the second quarter. BOKF NA now owns 2,202 shares of the solar cell manufacturer’s stock worth $106,000 after buying an additional 81 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of First Solar by 27.2% in the second quarter. LS Investment Advisors LLC now owns 2,782 shares of the solar cell manufacturer’s stock worth $135,000 after buying an additional 595 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of First Solar during the second quarter worth $141,000. Pacad Investment Ltd. acquired a new position in shares of First Solar during the second quarter worth $141,000. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of First Solar by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,924 shares of the solar cell manufacturer’s stock worth $142,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 57.53% of the company’s stock.

First Solar (NASDAQ:FSLR) opened at 34.03 on Thursday. The company’s 50-day moving average price is $38.26 and its 200 day moving average price is $50.73. First Solar has a 1-year low of $33.74 and a 1-year high of $74.29. The firm has a market capitalization of $3.48 billion, a PE ratio of 5.01 and a beta of 1.86.

First Solar (NASDAQ:FSLR) last announced its earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.32. The firm had revenue of $934.40 million for the quarter, compared to analysts’ expectations of $862.68 million. First Solar had a return on equity of 13.78% and a net margin of 17.45%. First Solar’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, equities analysts anticipate that First Solar will post $4.25 EPS for the current year.

About First Solar

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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