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 stock in a transaction that occurred on Friday, February 28th. The stock was 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 in the company, valued at $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

First Solar Stock Up 2.8 %

NASDAQ FSLR opened at $131.23 on Wednesday. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77. The company has a market capitalization of $14.05 billion, a P/E ratio of 11.30, a PEG ratio of 0.19 and a beta of 1.47. The company’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 posted its quarterly 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 return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FSLR. Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Barclays dropped their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Morgan Stanley cut their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, UBS Group reduced their price objective on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $262.08.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently modified their holdings of FSLR. Strengthening Families & Communities LLC purchased a new position in First Solar in the 3rd quarter worth about $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the third quarter valued at about $29,000. Larson Financial Group LLC boosted its holdings in shares of First Solar by 214.0% in the third 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 period. Smartleaf Asset Management LLC increased its position in shares of First Solar by 31.7% in 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 in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.