Insider Selling: First Solar, Inc. (NASDAQ:FSLR) Insider Sells 2,400 Shares of Stock

First Solar, Inc. (NASDAQ:FSLRGet Free Report) insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction on Monday, April 1st. The stock was sold at an average price of $169.72, for a total transaction of $407,328.00. Following the sale, the insider now directly owns 39,812 shares of the company’s stock, valued at $6,756,892.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Georges Antoun also recently made the following trade(s):

  • On Monday, March 4th, Georges Antoun sold 16,667 shares of First Solar stock. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85.

First Solar Trading Down 0.3 %

Shares of First Solar stock opened at $166.73 on Thursday. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $153.61 and its 200-day simple moving average is $154.89. The firm has a market cap of $17.85 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLRGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted ($0.07) earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Pacific Financial acquired a new stake in shares of First Solar in the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of First Solar during the 4th quarter worth approximately $27,000. Estabrook Capital Management purchased a new position in shares of First Solar during the 3rd quarter worth approximately $29,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar during the 4th quarter worth approximately $29,000. Finally, Headinvest LLC purchased a new position in shares of First Solar during the 3rd quarter worth approximately $30,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FSLR. Mizuho boosted their price target on shares of First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Jefferies Financial Group began coverage on shares of First Solar in a research report on Friday, December 15th. They issued a “buy” rating and a $211.00 price target for the company. Morgan Stanley raised shares of First Solar from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $214.00 to $237.00 in a research report on Friday, December 8th. Susquehanna reduced their price target on shares of First Solar from $261.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.48.

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About First Solar

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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.

Further Reading

Insider Buying and Selling by Quarter for First Solar (NASDAQ:FSLR)

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