Insider Selling: First Solar, Inc. (NASDAQ:FSLR) CEO Sells 1,966 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar sold 1,966 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the transaction, the chief executive officer now owns 111,890 shares of the company’s stock, valued at approximately $14,965,287.50. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

First Solar Trading Up 1.6 %

Shares of First Solar stock opened at $129.34 on Thursday. The stock has a market capitalization of $13.85 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The stock has a 50 day moving average price of $158.67 and a two-hundred day moving average price of $189.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on FSLR shares. Royal Bank of Canada dropped their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. 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 research note on Wednesday, February 26th. UBS Group decreased 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 note on Wednesday, February 26th. Piper Sandler reduced their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley dropped their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average price target of $262.08.

Hedge Funds Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in FSLR. Strengthening Families & Communities LLC bought a new stake in First Solar during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC grew its holdings in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its position 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 valued at $47,000 after buying an additional 63 shares during the last quarter. Crews Bank & Trust bought a new position in First Solar during the 4th quarter valued at $53,000. Finally, Hudson Edge Investment Partners Inc. purchased a new position in First Solar during the 4th quarter worth $53,000. Institutional investors own 92.08% of the company’s stock.

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.