First Solar (NASDAQ:FSLR) Stock Price Down 6.4% – Here’s Why

Shares of First Solar, Inc. (NASDAQ:FSLR) were down 6.4% during trading on Friday . The company traded as low as $217.67 and last traded at $219.2890. Approximately 1,680,984 shares traded hands during trading, a decline of 30% from the average daily volume of 2,400,574 shares. The stock had previously closed at $234.36.

Analysts Set New Price Targets

FSLR has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Raymond James Financial started coverage on shares of First Solar in a research note on Monday, January 12th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. increased their target price on First Solar from $278.00 to $303.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Seaport Research Partners lifted their price target on First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Roth Mkm set a $300.00 price target on First Solar in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.94.

First Solar Trading Down 6.7%

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The company has a fifty day moving average of $252.20 and a 200-day moving average of $231.87. The firm has a market capitalization of $23.47 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 0.28 and a beta of 1.60.

Hedge Funds Weigh In On First Solar

Institutional investors have recently bought and sold shares of the stock. Linden Thomas Advisory Services LLC grew its position in First Solar by 1.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after acquiring an additional 39 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in First Solar by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock worth $942,000 after purchasing an additional 44 shares during the last quarter. Signaturefd LLC lifted its stake in First Solar by 2.6% during the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock worth $414,000 after purchasing an additional 47 shares during the last quarter. Figure 8 Investment Strategies LLC boosted its holdings in shares of First Solar by 0.6% in the 3rd quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock worth $1,790,000 after purchasing an additional 48 shares in the last quarter. Finally, Burford Brothers Inc. increased its position in shares of First Solar by 0.3% during the 4th quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock valued at $4,984,000 after purchasing an additional 48 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.