First Solar, Inc. (FSLR) Short Interest Up 40.5% in October

First Solar, Inc. (NASDAQ:FSLR) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 9,054,488 shares, an increase of 40.5% from the October 15th total of 6,444,090 shares. Currently, 12.1% of the company’s stock are short sold. Based on an average daily trading volume, of 2,448,984 shares, the short-interest ratio is currently 3.7 days.

In other news, insider Raffi Garabedian sold 3,863 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $51.61, for a total transaction of $199,369.43. Following the completion of the transaction, the insider now directly owns 2,057 shares in the company, valued at approximately $106,161.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Large investors have recently modified their holdings of the stock. Clean Yield Group raised its holdings in First Solar by 4.7% in the 2nd quarter. Clean Yield Group now owns 22,155 shares of the solar cell manufacturer’s stock valued at $1,167,000 after acquiring an additional 993 shares during the period. Vident Investment Advisory LLC raised its holdings in First Solar by 2.2% in the 2nd quarter. Vident Investment Advisory LLC now owns 53,443 shares of the solar cell manufacturer’s stock valued at $2,814,000 after acquiring an additional 1,162 shares during the period. Oakbrook Investments LLC raised its holdings in First Solar by 18.8% in the 2nd quarter. Oakbrook Investments LLC now owns 7,600 shares of the solar cell manufacturer’s stock valued at $400,000 after acquiring an additional 1,200 shares during the period. Canada Pension Plan Investment Board raised its holdings in First Solar by 1.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 92,600 shares of the solar cell manufacturer’s stock valued at $4,484,000 after acquiring an additional 1,200 shares during the period. Finally, Investec Asset Management LTD raised its holdings in First Solar by 10.4% in the 2nd quarter. Investec Asset Management LTD now owns 13,269 shares of the solar cell manufacturer’s stock valued at $699,000 after acquiring an additional 1,249 shares during the period. Institutional investors and hedge funds own 53.47% of the company’s stock.

Shares of NASDAQ:FSLR opened at $42.22 on Friday. First Solar has a 52-week low of $36.51 and a 52-week high of $81.72. The stock has a market capitalization of $4.49 billion, a P/E ratio of 16.30, a PEG ratio of 1.75 and a beta of 1.38. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.48 and a quick ratio of 4.14.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.09. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. The business had revenue of $676.22 million during the quarter, compared to the consensus estimate of $683.93 million. On average, sell-side analysts expect that First Solar will post 1.52 EPS for the current year.

A number of equities analysts have recently commented on FSLR shares. Zacks Investment Research downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. ValuEngine downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. UBS Group set a $85.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research note on Friday, October 26th. JPMorgan Chase & Co. set a $79.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Finally, BidaskClub downgraded shares of First Solar from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.03.

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About First Solar

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components 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.

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