First Solar (NASDAQ:FSLR) Trading Down 4.4% Following Insider Selling

First Solar, Inc. (NASDAQ:FSLR)’s share price was down 4.4% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $126.02 and last traded at $127.21. Approximately 1,012,238 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 2,544,866 shares. The stock had previously closed at $133.03.

Specifically, CEO Mark R. Widmar sold 1,966 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now owns 111,890 shares of the company’s stock, valued at $14,965,287.50. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now directly owns 17,594 shares in the company, valued at approximately $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other First Solar news, General Counsel Jason E. Dymbort sold 363 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $48,551.25. Following the completion of the transaction, the general counsel now directly owns 22,273 shares of the company’s stock, valued at approximately $2,979,013.75. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley cut their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Truist Financial reissued a “buy” rating and set a $285.00 target price (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Barclays cut their price target on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Up 1.6 %

The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm 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. The business has a 50-day moving average price of $158.67 and a 200-day moving average price of $189.31.

First Solar (NASDAQ:FSLR) last issued its 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in shares of First Solar by 214.0% during the 3rd 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 during the last quarter. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new stake in First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the 4th quarter valued at $53,000. Finally, Banque Transatlantique SA purchased a new position in shares of First Solar during the 4th quarter worth $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.