First Solar, Inc. (NASDAQ:FSLR) Insider Sells $421,460.00 in Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at $922,740. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

First Solar Stock Down 3.4 %

Shares of First Solar stock opened at $247.93 on Thursday. The stock has a 50-day simple moving average of $230.05 and a 200-day simple moving average of $183.90. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The firm has a market cap of $26.54 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 0.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86.

First Solar (NASDAQ:FSLR) last posted its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities research analysts expect that First Solar, Inc. will post 13.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Solar

Several institutional investors have recently bought and sold shares of FSLR. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar during the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in First Solar during the fourth quarter valued at approximately $27,000. Baystate Wealth Management LLC acquired a new position in First Solar during the fourth quarter valued at approximately $29,000. Riverview Trust Co acquired a new stake in shares of First Solar in the first quarter worth $32,000. Finally, Headinvest LLC acquired a new stake in shares of First Solar in the third quarter worth $30,000. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several research reports. Roth Mkm reaffirmed a “buy” rating and issued a $320.00 price target (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. Janney Montgomery Scott downgraded First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. DZ Bank cut First Solar from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research note on Wednesday, May 29th. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Finally, UBS Group raised their target price on shares of First Solar from $270.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $265.72.

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.