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

First Solar, Inc. (NASDAQ:FSLR) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 4,770,000 shares, an increase of 10.2% from the August 31st total of 4,330,000 shares. Based on an average daily trading volume, of 2,230,000 shares, the short-interest ratio is currently 2.1 days. Approximately 4.7% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets lowered their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Barclays raised their price objective on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird lowered their price objective on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Piper Sandler lifted their target price on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $284.12.

Insiders Place Their Bets

In other news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,885 shares of company stock valued at $2,405,757. Insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Several institutional investors have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar during the first quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar during the fourth quarter valued at $27,000. Atlas Capital Advisors LLC lifted its holdings in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of First Solar during the first quarter valued at $32,000. Finally, Summit Securities Group LLC purchased a new stake in shares of First Solar during the second quarter valued at $36,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded down $8.78 on Tuesday, hitting $240.66. The company’s stock had a trading volume of 3,036,382 shares, compared to its average volume of 2,379,242. First Solar has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. The stock’s 50-day moving average is $226.45 and its two-hundred day moving average is $217.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 earnings per share. On average, equities research analysts forecast that First Solar will post 13.62 EPS for the current year.

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.