Short Interest in First Solar, Inc. (NASDAQ:FSLR) Declines By 14.2%

First Solar, Inc. (NASDAQ:FSLR) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 8,442,378 shares, a decline of 14.2% from the December 31st total of 9,833,873 shares. Currently, 7.9% of the shares of the company are short sold. Based on an average trading volume of 2,623,289 shares, the days-to-cover ratio is currently 3.2 days. Based on an average trading volume of 2,623,289 shares, the days-to-cover ratio is currently 3.2 days. Currently, 7.9% of the shares of the company are short sold.

First Solar Trading Up 3.7%

First Solar stock traded up $8.49 during mid-day trading on Tuesday, hitting $239.04. The company’s stock had a trading volume of 1,892,668 shares, compared to its average volume of 2,460,987. The business has a 50 day moving average price of $255.15 and a 200-day moving average price of $230.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. First Solar has a 12 month low of $116.56 and a 12 month high of $285.99. The stock has a market cap of $25.65 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of analyst reports. Roth Mkm set a $300.00 price objective on shares of First Solar in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $300.00 price target on shares of First Solar in a research report on Wednesday, January 7th. Jefferies Financial Group downgraded First Solar from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $269.00 to $260.00 in a research report on Wednesday, January 7th. Robert W. Baird lifted their price objective on First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $316.00 target price on shares of First Solar in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.94.

Insider Buying and Selling at First Solar

In related news, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the sale, the director directly owned 15,287 shares in the company, valued at approximately $4,011,308.80. This represents a 31.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the sale, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.48% of the company’s stock.

Institutional Trading of First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Woodline Partners LP grew its holdings in First Solar by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after acquiring an additional 2,615 shares during the last quarter. Truist Financial Corp boosted its holdings in First Solar by 8.2% in the second quarter. Truist Financial Corp now owns 5,855 shares of the solar cell manufacturer’s stock valued at $969,000 after acquiring an additional 443 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in First Solar by 49.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock worth $10,471,000 after purchasing an additional 20,884 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in shares of First Solar during the second quarter valued at about $237,000. Finally, Prime Capital Investment Advisors LLC lifted its holdings in First Solar by 218.8% in the second quarter. Prime Capital Investment Advisors LLC now owns 18,278 shares of the solar cell manufacturer’s stock worth $3,026,000 after buying an additional 12,544 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.