First Solar (NASDAQ:FSLR) Shares Gap Down – Here’s Why

First Solar, Inc. (NASDAQ:FSLR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $268.78, but opened at $254.02. First Solar shares last traded at $243.8730, with a volume of 1,985,529 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FSLR shares. Wall Street Zen raised First Solar from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Robert W. Baird lifted their target price on First Solar from $240.00 to $264.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. KeyCorp reissued an “overweight” rating on shares of First Solar in a research report on Friday, October 31st. Susquehanna raised their price target on shares of First Solar from $273.00 to $285.00 in a research report on Friday, October 31st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $316.00 price objective on shares of First Solar in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $272.55.

First Solar Stock Down 9.4%

The firm’s 50-day moving average price is $262.49 and its 200 day moving average price is $220.77. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $26.14 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.33 and a beta of 1.60.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. The firm’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael T. Sweeney sold 4,500 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the sale, the director directly owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the transaction, the director owned 15,287 shares in the company, valued at approximately $4,011,308.80. This represents a 31.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,912 shares of company stock worth $12,971,349 in the last ninety days. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

A number of institutional investors have recently added to or reduced their stakes in FSLR. Vanguard Group Inc. raised its position in First Solar by 3.5% in the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after purchasing an additional 464,130 shares during the last quarter. State Street Corp increased its stake in shares of First Solar by 2.1% in the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after buying an additional 111,927 shares during the period. Geode Capital Management LLC increased its stake in shares of First Solar by 0.9% in the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock valued at $471,927,000 after buying an additional 26,476 shares during the period. Viking Global Investors LP raised its holdings in First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after buying an additional 854,919 shares during the last quarter. Finally, Amundi boosted its position in First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock worth $459,917,000 after buying an additional 564,032 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.