First Solar (NASDAQ:FSLR) Trading Down 6.4% – Should You Sell?

First Solar, Inc. (NASDAQ:FSLR) shares were down 6.4% on Friday . The company traded as low as $217.67 and last traded at $219.2890. Approximately 1,680,984 shares changed 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FSLR. Rothschild & Co Redburn upped their price objective on shares of First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. BMO Capital Markets set a $263.00 price target on First Solar in a research note on Thursday, January 29th. Bank of America lowered their price objective on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Wells Fargo & Company upped their target price on First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Evercore raised their price target on shares of First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, First Solar presently has a consensus 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 business’s fifty day simple moving average is $253.28 and its 200 day simple moving average is $231.23. The stock has a market cap of $23.47 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 0.31 and a beta of 1.60.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aventura Private Wealth LLC bought a new position in First Solar during the 4th quarter worth $25,000. Larson Financial Group LLC boosted its holdings in shares of First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Elyxium Wealth LLC bought a new position in shares of First Solar during the fourth quarter worth about $30,000. Strategic Wealth Investment Group LLC bought a new position in shares of First Solar during the second quarter worth about $26,000. Finally, Torren Management LLC acquired a new stake in shares of First Solar in the 4th quarter worth about $47,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.