Insider Selling: First Solar, Inc. (NASDAQ:FSLR) General Counsel Sells $48,551.25 in Stock

First Solar, Inc. (NASDAQ:FSLR) General Counsel Jason E. Dymbort sold 363 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $48,551.25. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website.

First Solar Trading Down 0.7 %

NASDAQ:FSLR opened at $128.46 on Friday. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77. The firm has a fifty day simple moving average of $157.42 and a 200-day simple moving average of $188.89. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $13.75 billion, a P/E ratio of 11.06, a PEG ratio of 0.19 and a beta of 1.52.

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 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 company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FSLR. Truist Financial reissued a “buy” rating and issued a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Guggenheim decreased their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. UBS Group decreased their price objective on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Redburn Atlantic began coverage on shares of First Solar in a research note on Monday, March 3rd. They issued a “neutral” rating for the company. Four 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $262.08.

Institutional Investors Weigh In On First Solar

Several institutional investors and hedge funds have recently made changes to their positions in FSLR. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the third quarter worth $25,000. Larson Financial Group LLC lifted its position in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC lifted its position in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust acquired a new position in First Solar during the fourth quarter valued at $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in First Solar during the fourth quarter valued at $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.