First Solar Inc. (FSLR) Sees Strong Trading Volume
First Solar Inc. (NASDAQ:FSLR) saw unusually-high trading volume on Wednesday . Approximately 1,607,134 shares were traded during trading, a decline of 12% from the previous session’s volume of 1,832,744 shares.The stock last traded at $48.78 and had previously closed at $47.77.
FSLR has been the subject of several research analyst reports. Deutsche Bank AG restated a “buy” rating and set a $86.00 price target on shares of First Solar in a report on Sunday, April 10th. Roth Capital restated a “buy” rating and set a $80.00 price target on shares of First Solar in a report on Monday, April 11th. Vetr upgraded First Solar from a “buy” rating to a “strong-buy” rating and set a $80.11 price target for the company in a report on Tuesday, March 22nd. Needham & Company LLC restated a “hold” rating on shares of First Solar in a report on Monday, June 27th. Finally, Mizuho cut their price target on First Solar from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $71.20.
The company has a market cap of $5.02 billion and a price-to-earnings ratio of 6.46. The stock’s 50 day moving average price is $48.76 and its 200 day moving average price is $60.10.
First Solar (NASDAQ:FSLR) last posted its earnings results on Wednesday, April 27th. The solar cell manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.73. The firm earned $848 million during the quarter, compared to analyst estimates of $962.87 million. The business’s quarterly revenue was up 80.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.62) earnings per share. Equities research analysts forecast that First Solar Inc. will post $4.31 earnings per share for the current year.
In other news, CEO James Alton Hughes sold 12,884 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $55.43, for a total transaction of $714,160.12. Following the completion of the transaction, the chief executive officer now directly owns 25,587 shares of the company’s stock, valued at approximately $1,418,287.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Philip Dejong sold 6,379 shares of the firm’s stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $61.82, for a total transaction of $394,349.78. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in FSLR. GSA Capital Partners LLP increased its position in First Solar by 154.9% in the fourth quarter. GSA Capital Partners LLP now owns 17,389 shares of the solar cell manufacturer’s stock worth $1,148,000 after buying an additional 10,567 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in First Solar during the fourth quarter worth approximately $1,512,000. Robeco Institutional Asset Management B.V. acquired a new position in First Solar during the fourth quarter worth approximately $1,606,000. SFE Investment Counsel increased its position in First Solar by 1.5% in the fourth quarter. SFE Investment Counsel now owns 27,430 shares of the solar cell manufacturer’s stock worth $1,810,000 after buying an additional 395 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in First Solar by 110.3% in the fourth quarter. ProShare Advisors LLC now owns 33,704 shares of the solar cell manufacturer’s stock worth $2,224,000 after buying an additional 17,680 shares during the last quarter.
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.