Insider Selling: First Solar, Inc. (NASDAQ:FSLR) CAO Sells $110,000.00 in Stock

First Solar, Inc. (NASDAQ:FSLR) CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Byron Michael Jeffers also recently made the following trade(s):

• On Wednesday, August 7th, Byron Michael Jeffers sold 1,766 shares of First Solar stock. The stock was sold at an average price of $216.50, for a total value of $382,339.00.

First Solar Trading Up 1.8 %

Shares of FSLR stock opened at $229.58 on Friday. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a current ratio of 2.23, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 0.37 and a beta of 1.44. The stock has a 50-day moving average of $234.81 and a 200-day moving average of $198.87.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. On average, equities research analysts forecast that First Solar, Inc. will post 13.53 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Guggenheim reduced their price target on First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. Clarkson Capital began coverage on First Solar in a research note on Wednesday. They issued a “buy” rating and a $270.00 price target for the company. Piper Sandler increased their price objective on shares of First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Finally, Barclays raised their target price on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, First Solar has an average rating of “Moderate Buy” and an average price target of $275.36.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atlas Capital Advisors LLC grew its holdings in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar during the first quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in First Solar in the fourth quarter worth approximately $27,000. Summit Securities Group LLC acquired a new position in First Solar in the second quarter valued at approximately $36,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of First Solar during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.