First Solar (NASDAQ:FSLR) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

First Solar, Inc. (NASDAQ:FSLR) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $187.38 and traded as high as $214.87. First Solar shares last traded at $194.51, with a volume of 8,773,901 shares.

Key Stories Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: William Blair raised its rating on First Solar from “market perform” to “outperform.” The firm sees Democratic gains as potentially supporting utility-scale solar projects, although new bookings may take time to materialize. First Solar raised at William Blair as Democrat Congress seen boosting support
• Positive Sentiment: First Solar announced a $500 million share repurchase program and opened a manufacturing facility in Gaffney, South Carolina, expanding its U.S. production footprint and adding regional jobs. Democratic Sweep Could Be A Big Deal For First Solar Stock First Solar Opens South Carolina Plant
• Negative Sentiment: The company lowered its full-year net sales and module-shipment outlook. Its third-quarter results were mixed: EPS beat expectations, but revenue fell short of estimates and was down year over year, which may temper the positive policy and buyback news. Democratic Sweep Could Be A Big Deal For First Solar Stock

Wall Street Analyst Weigh In

Several research firms have commented on FSLR. Wells Fargo & Company decreased their target price on shares of First Solar from $313.00 to $260.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. HSBC raised shares of First Solar from a “hold” rating to a “buy” rating in a report on Friday, August 7th. UBS Group reaffirmed a “buy” rating on shares of First Solar in a research note on Friday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $255.00 price objective on shares of First Solar in a research report on Friday, October 30th. Finally, Raymond James Financial initiated coverage on shares of First Solar in a research note on Thursday, August 27th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $257.38.

First Solar Trading Up 2.7%

The company has a market capitalization of $21.62 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.50 and a beta of 1.73. The company’s fifty day moving average is $186.99 and its 200 day moving average is $214.96.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.63. First Solar had a net margin of 37.12% and a return on equity of 18.33%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm earned $4.24 EPS. The business’s revenue for the quarter was down 22.8% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post 17.66 EPS for the current year.

Insider Transactions at First Solar

In related news, General Counsel Jason E. Dymbort sold 3,700 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total value of $922,706.00. Following the sale, the general counsel directly owned 5,624 shares of the company’s stock, valued at $1,402,513.12. This represents a 39.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 800 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $174.00, for a total value of $139,200.00. Following the transaction, the chief technology officer owned 5,042 shares of the company’s stock, valued at $877,308. The trade was a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 5,427 shares of company stock worth $1,250,221. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fiduciary Financial Group LLC raised its holdings in shares of First Solar by 2.3% in the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer’s stock worth $478,000 after acquiring an additional 45 shares during the last quarter. Allworth Financial LP boosted its stake in shares of First Solar by 4.4% during the third quarter. Allworth Financial LP now owns 1,240 shares of the solar cell manufacturer’s stock valued at $217,000 after acquiring an additional 52 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in shares of First Solar by 3.5% during the first quarter. Hilltop Holdings Inc. now owns 1,608 shares of the solar cell manufacturer’s stock valued at $317,000 after acquiring an additional 54 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in First Solar by 0.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,102 shares of the solar cell manufacturer’s stock worth $3,973,000 after purchasing an additional 55 shares in the last quarter. Finally, Cox Capital Mgt LLC increased its position in First Solar by 0.4% during the 3rd quarter. Cox Capital Mgt LLC now owns 13,989 shares of the solar cell manufacturer’s stock worth $2,450,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

About First Solar

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.