First Solar (NASDAQ:FSLR) Shares Gap Down – Should You Sell?

Shares of First Solar, Inc. (NASDAQ:FSLR) gapped down before the market opened on Thursday . The stock had previously closed at $249.41, but opened at $230.22. First Solar shares last traded at $215.5810, with a volume of 2,157,074 shares.

Analyst Ratings Changes

A number of research firms have recently commented on FSLR. Wall Street Zen upgraded First Solar from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Daiwa Capital Markets upped their price objective on shares of First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Mizuho lifted their target price on shares of First Solar from $278.00 to $335.00 in a research report on Friday, October 31st. BMO Capital Markets set a $263.00 price target on shares of First Solar in a research note on Thursday. Finally, Barclays reiterated an “overweight” rating and issued a $279.00 price objective on shares of First Solar in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.94.

First Solar Stock Performance

The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.30 and a beta of 1.60. 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 firm has a fifty day moving average of $256.66 and a 200 day moving average of $229.06.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the company earned $2.91 earnings per share. The firm’s quarterly revenue was up 79.7% compared to the same quarter last year. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the completion of the sale, the insider owned 15,424 shares of the company’s stock, valued at $4,087,514.24. This trade represents a 70.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction on 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 sale, the director owned 15,287 shares in the company, valued at $4,011,308.80. This represents a 31.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,912 shares of company stock worth $12,971,349. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently modified their holdings of the company. TD Private Client Wealth LLC grew its holdings in shares of First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after purchasing an additional 85 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of First Solar in the fourth quarter worth $25,000. Strategic Wealth Investment Group LLC purchased a new stake in shares of First Solar during the second quarter worth $26,000. Hantz Financial Services Inc. raised its stake 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 valued at $30,000 after acquiring an additional 75 shares in the last quarter. Finally, Total Investment Management Inc. acquired a new stake in shares of First Solar in the second quarter valued at $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.