First Solar (NASDAQ:FSLR) Shares Down 4.4% on Insider Selling

First Solar, Inc. (NASDAQ:FSLR)’s share price traded down 4.4% on Tuesday following insider selling activity. The stock traded as low as $126.02 and last traded at $127.21. 1,012,238 shares were traded during trading, a decline of 60% from the average session volume of 2,544,866 shares. The stock had previously closed at $133.03.

Specifically, CEO Mark R. Widmar sold 1,966 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $262,952.50. Following the transaction, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other First Solar news, General Counsel Jason E. Dymbort sold 363 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $48,551.25. Following the transaction, the general counsel now directly owns 22,273 shares of the company’s stock, valued at approximately $2,979,013.75. The trade was a 1.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup dropped their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler decreased their target price on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Barclays decreased their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Four 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. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Up 1.6 %

The firm’s 50 day moving average is $158.67 and its two-hundred day moving average is $189.31. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 11.14, a P/E/G 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 (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FSLR. Larson Financial Group LLC increased its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar during the 4th quarter valued at about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in First Solar during the 4th quarter worth approximately $53,000. Finally, Banque Transatlantique SA acquired a new stake in First Solar during the 4th quarter worth approximately $53,000. 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.