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First Solar Inc. (FSLR) – Don’t Believe the Hype: Check The Facts

786 institutions hold shares in First Solar Inc. (FSLR), with 12.7M shares held by insiders accounting for 11.98% while institutional investors hold 95.43% of the company’s shares. The shares outstanding are 105.98M, and float is at 93.32M with Short Float at 8.56%. Institutions hold 84.00% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 12.67 million shares valued at $1.25 billion. The investor’s holdings represent 11.96% of the FSLR Shares outstanding. As of Dec 30, 2020, the second largest holder is Wellington Management Group, LLP with 8.56 million shares valued at $846.68 million to account for 8.08% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 8.17 million shares representing 7.70% and valued at over $807.73 million, while Invesco Ltd. holds 4.21% of the shares totaling 4.46 million with a market value of $441.31 million.

First Solar Inc. (NASDAQ: FSLR) is -15.97% lower on its value in year-to-date trading and has touched a low of $33.38 and a high of $112.50 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The FSLR stock was last observed hovering at around $86.15 in the last trading session, with the day’s loss setting it -3.03% off its average median price target of $86.00 for the next 12 months. It is also 41.05% off the consensus price target high of $141.00 offered by 19 analysts, but current levels are -135.87% lower than the price target low of $35.24 for the same period.

Currently trading at $83.12, the stock is 2.98% and -6.84% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.55 million and changing -3.52% at the moment leaves the stock 4.03% off its SMA200. FSLR registered 135.40% gain for a year compared to 6-month gain of 21.22%. The firm has a 50-day simple moving average (SMA 50) of $82.96 and a 200-day simple moving average (SMA200) of $87.40.

The stock witnessed a 10.30% loss in the last 1 month and extending the period to 3 months gives it a -15.97%, and is -3.00% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.62% over the week and 5.33% over the month.

First Solar Inc. (FSLR) has around 5100 employees, a market worth around $8.93B and $2.71B in sales. Current P/E ratio is 22.27 and Fwd P/E is 24.69. Profit margin for the company is 14.70%. Distance from 52-week low is 149.01% and -26.12% from its 52-week high. The company has generated returns on investments over the last 12 months (7.30%).

First Solar Inc. (FSLR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for First Solar Inc. (FSLR) is a “Hold”. 19 analysts offering their recommendations for the stock have an average rating of 2.90, where 7 rate it as a Hold and 1 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 5 analysts have rated the stock as a Sell or Underperform.

First Solar Inc. is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.85 with sales reaching $779.14M over the same period.The EPS is expected to grow by 442.10% this year, but quarterly earnings will post 8.40% year-over-year. Quarterly sales are estimated to grow 46.40% in year-over-year returns.

First Solar Inc. (FSLR) Insider Activity

A total of 150 insider transactions have happened at First Solar Inc. (FSLR) in the last six months, with sales accounting for 89 and purchases happening 61 times. The most recent transaction is an insider sale by Gloeckler Markus, the company’s Chief Technology Officer. SEC filings show that Gloeckler Markus sold 1,456 shares of the company’s common stock on Mar 24 at a price of $81.64 per share for a total of $0.12 million. Following the sale, the insider now owns 7775.0 shares.

First Solar Inc. disclosed in a document filed with the SEC on Mar 17 that ANTOUN GEORGES (Chief Commercial Officer) sold a total of 3,006 shares of the company’s common stock. The trade occurred on Mar 17 and was made at $79.97 per share for $0.24 million. Following the transaction, the insider now directly holds 33072.0 shares of the FSLR stock.

Still, SEC filings show that on Mar 15, KENNEDY R CRAIG (Director) disposed off 550 shares at an average price of $82.23 for $45226.0. The insider now directly holds 25,739 shares of First Solar Inc. (FSLR).

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First Solar Inc. (FSLR): Who are the competitors?

The company’s main competitors (and peers) include SunPower Corporation (SPWR) that is trading 913.03% up over the past 12 months and Canadian Solar Inc. (CSIQ) that is 203.60% higher over the same period. General Electric Company (GE) is 95.07% up on the 1-year trading charts. Short interest in the company’s stock has risen 2.38% from the last report on Feb 11, 2021 to stand at a total of 7.8 million short shares sold with a short interest ratio of 2.9.

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