First Solar, Inc. (NASDAQ:FSLR) Short Interest Update

First Solar, Inc. (NASDAQ:FSLR) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 8,442,378 shares, a decline of 14.2% from the December 31st total of 9,833,873 shares. Currently, 7.9% of the shares of the company are short sold. Based on an average trading volume of 2,623,289 shares, the days-to-cover ratio is currently 3.2 days. Based on an average trading volume of 2,623,289 shares, the days-to-cover ratio is currently 3.2 days. Currently, 7.9% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, Director Paul H. Stebbins sold 7,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the completion of the transaction, the director directly owned 15,287 shares of the company’s stock, valued at $4,011,308.80. This represents a 31.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Solar

Hedge funds have recently bought and sold shares of the company. Aventura Private Wealth LLC bought a new position in First Solar in the 4th quarter valued at $25,000. Strategic Wealth Investment Group LLC bought a new position in shares of First Solar in the second quarter worth $26,000. Hantz Financial Services Inc. raised its position in shares of First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after buying an additional 75 shares in the last quarter. Total Investment Management Inc. bought a new stake in First Solar during the second quarter valued at $36,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in First Solar during the third quarter worth about $44,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 0.4%

Shares of NASDAQ FSLR opened at $238.06 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03. The company has a market cap of $25.55 billion, a P/E ratio of 18.28, a P/E/G ratio of 0.31 and a beta of 1.60. First Solar has a 52 week low of $116.56 and a 52 week high of $285.99. The business has a 50-day simple moving average of $254.04 and a two-hundred day simple moving average of $231.21.

Analyst Upgrades and Downgrades

FSLR has been the subject of several research reports. Glj Research increased their price objective on First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a report on Tuesday, November 4th. Daiwa Capital Markets upped their price target on First Solar from $215.00 to $284.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Solar in a report on Monday, December 29th. Wells Fargo & Company upped their price objective on shares of First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Finally, BMO Capital Markets set a $263.00 target price on shares of First Solar in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.94.

First Solar Company Profile

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.