First Solar (NASDAQ:FSLR) Shares Gap Up to $174.29

First Solar, Inc. (NASDAQ:FSLR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $174.29, but opened at $179.42. First Solar shares last traded at $175.46, with a volume of 327,315 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FSLR shares. Mizuho increased their price objective on shares of First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $187.00 to $250.00 in a report on Friday. DZ Bank assumed coverage on shares of First Solar in a report on Wednesday. They issued a “buy” rating and a $205.00 price target for the company. Oppenheimer reissued an “outperform” rating and issued a $269.00 price target on shares of First Solar in a report on Wednesday. Finally, Roth Mkm restated a “buy” rating and set a $230.00 price objective on shares of First Solar in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average target price of $229.56.

First Solar Stock Performance

The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $18.87 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41. The firm’s fifty day moving average price is $160.86 and its two-hundred day moving average price is $156.05.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned ($0.07) EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts forecast that First Solar, Inc. will post 13.55 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now directly owns 15,641 shares in the company, valued at $2,467,524.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the transaction, the insider now owns 5,170 shares in the company, valued at $766,917.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar during the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in First Solar in the 4th quarter valued at about $27,000. Baystate Wealth Management LLC purchased a new stake in First Solar in the 4th quarter valued at about $29,000. First Pacific Financial purchased a new stake in First Solar in the 3rd quarter valued at about $27,000. Finally, Estabrook Capital Management purchased a new stake in shares of First Solar during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

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.