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

First Solar, Inc. (NASDAQ:FSLR) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 8,100,000 shares, an increase of 27.6% from the November 30th total of 6,350,000 shares. Currently, 8.1% of the company’s stock are short sold. Based on an average daily volume of 2,800,000 shares, the days-to-cover ratio is presently 2.9 days.

First Solar Price Performance

NASDAQ FSLR opened at $178.07 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The business’s fifty day moving average is $194.09 and its 200 day moving average is $216.52. The company has a market capitalization of $19.06 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. First Solar has a fifty-two week low of $135.88 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $2.50 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts predict that First Solar will post 13.15 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on FSLR. StockNews.com lowered shares of First Solar from a “hold” rating to a “sell” rating in a report on Wednesday, December 25th. Jefferies Financial Group lowered their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Robert W. Baird reduced their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Mizuho lowered their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $279.04.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of First Solar by 5.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,548 shares of the solar cell manufacturer’s stock valued at $1,251,000 after acquiring an additional 276 shares in the last quarter. HB Wealth Management LLC bought a new position in First Solar in the 2nd quarter worth approximately $285,000. UMB Bank n.a. grew its holdings in First Solar by 17.7% during the 2nd quarter. UMB Bank n.a. now owns 552 shares of the solar cell manufacturer’s stock valued at $124,000 after buying an additional 83 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of First Solar by 24.0% during the second quarter. Principal Financial Group Inc. now owns 184,201 shares of the solar cell manufacturer’s stock valued at $41,530,000 after buying an additional 35,658 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of First Solar by 8.7% in the second quarter. Signaturefd LLC now owns 2,977 shares of the solar cell manufacturer’s stock worth $671,000 after buying an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.