First Solar, Inc. (NASDAQ:FSLR) Insider Kuntal Kumar Verma Sells 7,475 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

First Solar Trading Down 6.3 %

NASDAQ FSLR opened at $127.63 on Tuesday. The firm has a market cap of $13.66 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a 52 week low of $126.54 and a 52 week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $171.20 and a 200 day moving average price of $196.97.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd increased its holdings in shares of First Solar by 6.4% during the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after acquiring an additional 55 shares in the last quarter. Field & Main Bank grew its position in First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after purchasing an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in First Solar by 0.6% during the 4th 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. Demars Financial Group LLC raised its holdings in shares of First Solar by 1.4% in the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after buying an additional 56 shares during the last quarter. Finally, Doliver Advisors LP lifted its stake in shares of First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after buying an additional 56 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FSLR. UBS Group reduced their target price on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic began coverage on First Solar in a research report on Monday. They set a “neutral” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Truist Financial reiterated a “buy” rating and set a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.