Insider Selling: First Solar, Inc. (NASDAQ:FSLR) Insider Sells 419 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction on Friday, March 7th. The shares were 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 in the company, valued at approximately $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 value of $1,021,085.00.

First Solar Trading Down 4.3 %

Shares of NASDAQ:FSLR traded down $6.02 on Monday, reaching $133.11. 3,446,450 shares of the company traded hands, compared to its average volume of 2,741,593. The business’s 50-day simple moving average is $166.18 and its 200 day simple moving average is $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 current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently modified their holdings of the company. Field & Main Bank increased 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 acquiring an additional 55 shares during the period. Covestor Ltd increased 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 acquiring an additional 55 shares during the period. Clear Harbor Asset Management LLC raised its holdings in First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after purchasing an additional 55 shares in the last quarter. Doliver Advisors LP raised its holdings in First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after purchasing an additional 56 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. UBS Group lowered their price objective on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and issued a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Citigroup lowered their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.