Kuntal Kumar Verma Sells 7,475 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction dated 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 owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

First Solar Stock Down 0.3 %

Shares of FSLR opened at $130.90 on Thursday. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth 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. The business’s 50 day simple moving average is $170.10 and its 200-day simple moving average is $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.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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 firm had revenue of $1.51 billion for 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%. As a group, equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whalen Wealth Management Inc. raised its holdings in First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after buying an additional 34,074 shares during the period. Stifel Financial Corp raised its holdings in First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after buying an additional 5,780 shares during the period. Paragon Capital Management Inc. purchased a new stake in First Solar during the 4th quarter valued at $1,240,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after buying an additional 49,074 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of a number of recent research reports. Piper Sandler cut their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company 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. UBS Group cut their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price 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.