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

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

Specifically, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In other news, General Counsel Jason E. Dymbort sold 363 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $48,551.25. Following the sale, the general counsel now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Roth Mkm reaffirmed a “buy” rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. UBS Group reduced their price target on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Redburn Atlantic started coverage on First Solar in a research report on Monday, March 3rd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird cut their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. 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 business’s 50 day moving average is $158.67 and its 200 day moving average is $189.31.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

Several large investors have recently modified their holdings of FSLR. Larson Financial Group LLC increased its holdings in shares of First Solar by 214.0% in 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 period. Smartleaf Asset Management LLC increased its holdings in shares of First Solar by 31.7% in 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 period. Crews Bank & Trust acquired a new position in shares of First Solar in the 4th quarter valued at $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the 4th quarter valued at $53,000. Finally, Banque Transatlantique SA acquired a new position in shares of First Solar in the 4th quarter valued at $53,000. 92.08% of the stock is 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.