Insider Selling: First Solar, Inc. (NASDAQ:FSLR) Insider Sells $1,021,085.00 in Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

First Solar Price Performance

FSLR opened at $130.90 on Thursday. The stock has a 50-day moving average price of $170.10 and a 200-day moving average price of $196.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market cap of $14.01 billion, a PE ratio of 11.27, a P/E/G ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Solar

Several large investors have recently modified their holdings of the stock. Covestor Ltd increased its holdings in First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after buying an additional 55 shares in the last quarter. Field & Main Bank increased its holdings in First Solar by 4.1% in the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after buying an additional 55 shares in the last quarter. Clear Harbor Asset Management LLC increased 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 buying an additional 55 shares in the last quarter. Demars Financial Group LLC increased its holdings in First Solar by 1.4% in the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after buying an additional 56 shares in the last quarter. Finally, Doliver Advisors LP increased 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 buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Guggenheim dropped their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Bank of America dropped their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. UBS Group cut their price target on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup cut their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Four 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.