First Solar (NASDAQ:FSLR) Trading 7.3% Higher – What’s Next?

First Solar, Inc. (NASDAQ:FSLR) shot up 7.3% on Thursday . The company traded as high as $197.47 and last traded at $195.42. 3,726,516 shares were traded during trading, an increase of 48% from the average session volume of 2,518,718 shares. The stock had previously closed at $182.13.

Analyst Ratings Changes

A number of brokerages have weighed in on FSLR. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Tuesday, October 29th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. William Blair started coverage on First Solar in a report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Seaport Res Ptn upgraded First Solar to a “hold” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Trading Up 7.1 %

The firm’s 50-day simple moving average is $217.04 and its 200 day simple moving average is $225.37. The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 0.32 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results 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). The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $2.50 earnings per share. Equities analysts expect that First Solar, Inc. will post 13.16 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Western Financial Corp CA acquired a new position in shares of First Solar during the third quarter worth $1,209,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in First Solar by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock valued at $20,434,000 after purchasing an additional 20,465 shares during the period. Harbour Capital Advisors LLC increased its holdings in First Solar by 224.0% in the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after purchasing an additional 3,607 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in First Solar in the third quarter valued at $17,635,000. Finally, Vanguard Group Inc. increased its holdings in First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after purchasing an additional 105,236 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Company Profile

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.