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 company’s stock in a transaction on 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 owns 4,695 shares of the company’s stock, 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 this link.

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 Trading Up 4.5 %

FSLR opened at $139.10 on Wednesday. First Solar, Inc. has a twelve month low of $124.96 and a twelve month high of $306.77. The company has a fifty day moving average of $165.43 and a 200-day moving average of $193.16. The stock has a market cap of $14.89 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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%. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on FSLR shares. Barclays reduced their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Truist Financial reiterated a “buy” rating and set a $285.00 price objective (down from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. UBS Group cut their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Four research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

Hedge Funds Weigh In On First Solar

Several institutional investors have recently added to or reduced their stakes in FSLR. Whalen Wealth Management Inc. increased its stake in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after acquiring an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after purchasing an additional 34,074 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after purchasing an additional 5,780 shares during the period. Paragon Capital Management Inc. bought a new position in shares of First Solar during the 4th quarter worth about $1,240,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after buying an additional 49,074 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

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.