Insider Selling: 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 stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares in the company, valued at approximately $624,247.20. This represents a 8.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00.

First Solar Trading Down 2.2 %

Shares of NASDAQ FSLR opened at $136.04 on Thursday. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77. The stock has a market cap of $14.56 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The firm has a 50-day moving average of $164.63 and a 200 day moving average of $192.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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). 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 analysts’ expectations of $1.48 billion. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Guggenheim reduced their target price on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a report on Thursday, February 27th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Redburn Atlantic started coverage on shares of First Solar in a report on Monday, March 3rd. They issued a “neutral” rating on the stock. Finally, Piper Sandler cut their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FSLR. Norges Bank purchased a new position in First Solar in the fourth quarter worth about $317,399,000. Wellington Management Group LLP raised its holdings in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares during the last quarter. Demars Financial Group LLC raised its holdings in First Solar by 17,404.5% in the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after buying an additional 718,631 shares during the last quarter. Mirova US LLC raised its holdings in First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after buying an additional 585,394 shares during the last quarter. Finally, Amundi raised its holdings in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after buying an additional 426,797 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.