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 First Solar stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $55,710.24. Following the sale, the insider now directly owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This represents a 8.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 stock was sold at an average price of $136.60, for a total value of $1,021,085.00.

First Solar Price Performance

NASDAQ:FSLR opened at $133.11 on Tuesday. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77. The stock has a 50 day moving average of $166.18 and a two-hundred day moving average of $193.80. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap 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.

First Solar (NASDAQ:FSLR) last posted 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 firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FSLR shares. Piper Sandler decreased their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Morgan Stanley decreased their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $285.00 price objective (down previously from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

Institutional Investors Weigh In On First Solar

A number of large investors have recently made changes to their positions in the stock. Field & Main Bank grew its position in shares of First Solar by 4.1% in the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after purchasing an additional 55 shares in the last quarter. Covestor Ltd grew its position in shares of First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares in the last quarter. Doliver Advisors LP grew its position in shares of First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after purchasing an additional 56 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of First Solar by 31.7% in the fourth 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 in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.