First Solar Sees Large Decrease in Short Interest (FSLR)
First Solar (NASDAQ:FSLR) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 8,748,498 shares, a decrease of 14.4% from the April 15th total of 10,214,700 shares, American Banking News reports. Currently, 12.1% of the company’s stock are sold short. Based on an average trading volume of 2,793,987 shares, the short-interest ratio is currently 3.1 days.
In other First Solar news, CEO James Alton Hughes sold 16,000 shares of the stock on the open market in a transaction dated Thursday, May 8th. The stock was sold at an average price of $64.12, for a total transaction of $1,025,920.00. Following the completion of the transaction, the chief executive officer now directly owns 554 shares of the company’s stock, valued at approximately $35,522. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on FSLR. Analysts at Brean Capital reiterated a “buy” rating on shares of First Solar in a research note on Thursday. They now have a $83.00 price target on the stock. Separately, analysts at Goldman Sachs reiterated a “sell” rating on shares of First Solar in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. First Solar currently has a consensus rating of “Hold” and a consensus target price of $58.76.
Shares of First Solar (NASDAQ:FSLR) opened at 59.64 on Monday. First Solar has a one year low of $35.59 and a one year high of $74.84. The stock has a 50-day moving average of $67.4 and a 200-day moving average of $59.32. The company has a market cap of $5.971 billion and a price-to-earnings ratio of 14.58.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.54. The company had revenue of $950.00 million for the quarter, compared to the consensus estimate of $837.90 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, analysts predict that First Solar will post $2.65 earnings per share for the current fiscal year.
First Solar, Inc manufactures and sells photovoltaic (NASDAQ:FSLR) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems.
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