First Solar (NASDAQ:FSLR) Shares Down 5.5% – What’s Next?

First Solar, Inc. (NASDAQ:FSLR)’s stock price dropped 5.5% during trading on Tuesday . The stock traded as low as $181.79 and last traded at $182.22. Approximately 1,014,958 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 1,564,138 shares. The stock had previously closed at $192.88.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of recent research reports. Roth Mkm reduced their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Evercore ISI decreased their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Susquehanna decreased their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Finally, Mizuho dropped their price target on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $277.75.

First Solar Stock Down 4.4 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The business has a 50 day simple moving average of $190.16 and a 200-day simple moving average of $209.36. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 0.22 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business posted $2.50 earnings per share. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts expect that First Solar, Inc. will post 13.07 EPS for the current year.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Secure Asset Management LLC grew its holdings in shares of First Solar by 18.3% during the 4th quarter. Secure Asset Management LLC now owns 6,687 shares of the solar cell manufacturer’s stock worth $1,179,000 after purchasing an additional 1,034 shares during the period. Whalen Wealth Management Inc. boosted its stake in First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after buying an additional 1,554 shares during the period. Mutual Advisors LLC increased its position in shares of First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $279,000 after acquiring an additional 73 shares during the last quarter. True North Advisors LLC raised its stake in shares of First Solar by 58.5% in the 4th quarter. True North Advisors LLC now owns 1,347 shares of the solar cell manufacturer’s stock valued at $237,000 after acquiring an additional 497 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of First Solar by 125.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,513 shares of the solar cell manufacturer’s stock worth $1,148,000 after acquiring an additional 3,618 shares during the last quarter. 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.