Kuntal Kumar Verma Sells 419 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the sale, the insider now owns 4,695 shares of the company’s stock, valued at $624,247.20. This represents a 8.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Kuntal Kumar Verma also recently made the following trade(s):

• On Friday, February 28th, Kuntal Kumar Verma sold 7,475 shares of First Solar stock. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00.

First Solar Price Performance

First Solar stock opened at $136.04 on Thursday. The firm has a 50-day moving average price of $164.63 and a 200-day moving average price of $192.76. The firm has a market capitalization of $14.56 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last released 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). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate 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 research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

FSLR has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and issued a $285.00 price target (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Royal Bank of Canada cut their target price on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. 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 research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Four investment 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in 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 position in First Solar in the 3rd quarter worth about $29,000. Larson Financial Group LLC increased its stake in First Solar by 214.0% in 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 period. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares during the period. Finally, Crews Bank & Trust purchased a new position in First Solar in the 4th quarter worth about $53,000. Hedge funds and other institutional investors 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.