Kuntal Kumar Verma Sells 582 Shares of First Solar (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $250.00, for a total value of $145,500.00. Following the completion of the sale, the insider owned 4,967 shares in the company, valued at approximately $1,241,750. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kuntal Kumar Verma also recently made the following trade(s):

• On Tuesday, May 5th, Kuntal Kumar Verma sold 479 shares of First Solar stock. The stock was sold at an average price of $215.63, for a total value of $103,286.77.
• On Wednesday, April 15th, Kuntal Kumar Verma sold 573 shares of First Solar stock. The stock was sold at an average price of $210.00, for a total value of $120,330.00.
• On Tuesday, March 17th, Kuntal Kumar Verma sold 180 shares of First Solar stock. The stock was sold at an average price of $199.53, for a total value of $35,915.40.
• On Monday, March 16th, Kuntal Kumar Verma sold 392 shares of First Solar stock. The stock was sold at an average price of $200.80, for a total value of $78,713.60.
• On Tuesday, March 10th, Kuntal Kumar Verma sold 408 shares of First Solar stock. The stock was sold at an average price of $195.70, for a total value of $79,845.60.
• On Monday, March 9th, Kuntal Kumar Verma sold 1,386 shares of First Solar stock. The stock was sold at an average price of $190.36, for a total value of $263,838.96.
• On Wednesday, March 4th, Kuntal Kumar Verma sold 728 shares of First Solar stock. The stock was sold at an average price of $196.95, for a total value of $143,379.60.
• On Tuesday, March 3rd, Kuntal Kumar Verma sold 3,426 shares of First Solar stock. The stock was sold at an average price of $195.93, for a total value of $671,256.18.

First Solar Trading Up 3.6%

Shares of First Solar stock opened at $257.85 on Friday. The stock has a market cap of $27.71 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.57 and a beta of 1.57. The stock’s 50 day simple moving average is $205.04 and its 200-day simple moving average is $231.20. First Solar, Inc. has a 1-year low of $135.50 and a 1-year high of $285.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 EPS. Analysts predict that First Solar, Inc. will post 17.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FSLR. Mizuho lowered their target price on First Solar from $271.00 to $243.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Evercore boosted their target price on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. BMO Capital Markets lowered their target price on First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a report on Monday, April 20th. DZ Bank upgraded First Solar to a “strong sell” rating in a report on Thursday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of First Solar from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.40.

First Solar News Roundup

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
• Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener

Institutional Trading of First Solar

Several institutional investors have recently made changes to their positions in the company. Joule Financial LLC purchased a new stake in First Solar in the third quarter valued at approximately $950,000. Mirae Asset Global Investments Co. Ltd. raised its position in First Solar by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock valued at $17,015,000 after purchasing an additional 13,904 shares during the period. Belpointe Asset Management LLC purchased a new stake in First Solar in the third quarter valued at approximately $1,193,000. National Pension Service raised its position in First Solar by 24.1% in the third quarter. National Pension Service now owns 41,419 shares of the solar cell manufacturer’s stock valued at $9,134,000 after purchasing an additional 8,036 shares during the period. Finally, Candriam S.C.A. raised its position in First Solar by 70.2% in the third quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer’s stock valued at $33,163,000 after purchasing an additional 62,048 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.