First Solar, Inc. (NASDAQ:FSLR) Insider Sells $55,710.24 in Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, the insider now directly owns 4,695 shares in the company, valued at $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Kuntal Kumar Verma also recently made the following trade(s):

• On Friday, February 28th, Kuntal Kumar Verma sold 7,475 shares of First Solar stock. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00.

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $6.02 during trading on Monday, reaching $133.11. 3,446,450 shares of the stock traded hands, compared to its average volume of 2,741,593. The company has a 50-day moving average of $166.18 and a 200-day moving average of $193.80. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The stock has a market capitalization of $14.25 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FSLR. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the third quarter worth $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the third quarter valued at $29,000. Larson Financial Group LLC raised its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Finally, Crews Bank & Trust bought a new stake in shares of First Solar during the 4th quarter valued at $53,000. 92.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on FSLR. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Citigroup reduced their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada dropped their price objective on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

About First Solar

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.