Insider Selling: First Solar (NASDAQ:FSLR) Insider Sells 335 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) insider Caroline Stockdale sold 335 shares of First Solar stock in a transaction on Monday, March 16th. The shares were sold at an average price of $200.80, for a total value of $67,268.00. Following the completion of the transaction, the insider owned 34,060 shares in the company, valued at $6,839,248. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Caroline Stockdale also recently made the following trade(s):

• On Monday, March 9th, Caroline Stockdale sold 1,041 shares of First Solar stock. The stock was sold at an average price of $190.36, for a total value of $198,164.76.
• On Tuesday, March 3rd, Caroline Stockdale sold 1,650 shares of First Solar stock. The stock was sold at an average price of $195.93, for a total value of $323,284.50.

First Solar Stock Up 0.5%

FSLR stock traded up $0.94 during trading on Tuesday, reaching $200.42. 1,358,366 shares of the company traded hands, compared to its average volume of 2,623,352. The business has a 50 day simple moving average of $224.42 and a 200 day simple moving average of $236.51. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $285.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 0.35 and a beta of 1.65.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.65 earnings per share. On average, equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of First Solar from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Deutsche Bank Aktiengesellschaft lowered shares of First Solar from a “buy” rating to a “hold” rating and cut their price target for the stock from $300.00 to $245.00 in a report on Wednesday, February 25th. Bank of America decreased their price objective on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Jefferies Financial Group reissued a “hold” rating and issued a $205.00 price objective on shares of First Solar in a research report on Thursday, February 26th. Finally, Susquehanna dropped their target price on First Solar from $292.00 to $280.00 and set a “positive” rating on the stock in a research note on Wednesday, February 25th. Twenty equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.17.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Joule Financial LLC purchased a new stake in shares of First Solar during the third quarter valued at $950,000. Mirae Asset Global Investments Co. Ltd. raised its stake in First Solar by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock worth $17,015,000 after acquiring an additional 13,904 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in First Solar during the 3rd quarter worth about $1,193,000. State Street Corp lifted its position in First Solar by 2.1% during the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock worth $881,680,000 after acquiring an additional 111,927 shares during the period. Finally, Greenup Street Wealth Management LLC purchased a new stake in First Solar during the 3rd quarter valued at about $2,147,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

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.