First Solar, Inc. (NASDAQ:FSLR)’s share price fell 6.8% during trading on Wednesday . The stock traded as low as $59.71 and last traded at $59.88. 2,142,345 shares traded hands during mid-day trading, an increase of 48% from the average session volume of 1,443,888 shares. The stock had previously closed at $64.25.

Several research firms recently commented on FSLR. Zacks Investment Research lowered First Solar from a “hold” rating to a “sell” rating in a report on Monday, April 29th. BidaskClub raised First Solar from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. ValuEngine raised First Solar from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $72.00 target price (up previously from $70.00) on shares of First Solar in a report on Monday, May 6th. Finally, Argus increased their target price on First Solar to $66.00 and gave the company an “average” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.67.

The company has a current ratio of 4.38, a quick ratio of 3.83 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.59 billion, a PE ratio of 44.03, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.52). First Solar had a negative return on equity of 0.12% and a negative net margin of 0.28%. The business had revenue of $532.00 million for the quarter, compared to analyst estimates of $596.32 million. During the same quarter last year, the company posted $0.78 EPS. First Solar’s quarterly revenue was down 6.2% on a year-over-year basis. On average, research analysts forecast that First Solar, Inc. will post 2.41 earnings per share for the current fiscal year.

In related news, CEO Mark R. Widmar sold 33,371 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $60.00, for a total transaction of $2,002,260.00. Following the completion of the transaction, the chief executive officer now directly owns 152,510 shares of the company’s stock, valued at $9,150,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Georges Antoun sold 8,476 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $57.85, for a total transaction of $490,336.60. Following the transaction, the insider now directly owns 97,546 shares of the company’s stock, valued at $5,643,036.10. The disclosure for this sale can be found here. Insiders have sold 117,386 shares of company stock valued at $7,028,591 in the last quarter. Insiders own 0.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of FSLR. Electron Capital Partners LLC increased its stake in shares of First Solar by 60.2% during the 1st quarter. Electron Capital Partners LLC now owns 809,163 shares of the solar cell manufacturer’s stock worth $42,756,000 after purchasing an additional 303,982 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of First Solar by 0.5% during the 1st quarter. Nordea Investment Management AB now owns 96,850 shares of the solar cell manufacturer’s stock worth $5,117,000 after purchasing an additional 488 shares in the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in shares of First Solar during the 1st quarter worth approximately $4,491,000. Slow Capital Inc. increased its stake in shares of First Solar by 53.2% during the 1st quarter. Slow Capital Inc. now owns 8,636 shares of the solar cell manufacturer’s stock worth $456,000 after purchasing an additional 2,998 shares in the last quarter. Finally, FMR LLC increased its stake in shares of First Solar by 10,102.9% during the 1st quarter. FMR LLC now owns 97,744 shares of the solar cell manufacturer’s stock worth $5,164,000 after purchasing an additional 96,786 shares in the last quarter. 61.95% of the stock is owned by hedge funds and other institutional investors.

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About First Solar (NASDAQ:FSLR)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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