Georges Antoun Sells 229 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) insider Georges Antoun sold 229 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the sale, the insider now directly owns 52,836 shares of the company’s stock, valued at $7,066,815. This represents a 0.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

First Solar Trading Down 4.3 %

Shares of FSLR stock traded down $5.69 during trading hours on Tuesday, hitting $127.34. The company had a trading volume of 3,015,970 shares, compared to its average volume of 2,556,447. The company’s fifty day moving average is $159.91 and its 200 day moving average is $189.73. 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, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The stock has a market capitalization of $13.63 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last issued 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Guggenheim dropped their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company dropped their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Finally, Barclays dropped their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

Hedge Funds Weigh In On First Solar

Several large investors have recently made changes to their positions in FSLR. Strengthening Families & Communities LLC acquired a new position in shares of First Solar in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC lifted its holdings in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new stake in First Solar during the 4th quarter worth approximately $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in First Solar during the 4th quarter worth approximately $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.