First Solar, Inc. (NASDAQ:FSLR) General Counsel Jason E. Dymbort Sells 363 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) General Counsel Jason E. Dymbort sold 363 shares of the firm’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 $48,551.25. Following the transaction, the general counsel now directly owns 22,273 shares of the company’s stock, valued at $2,979,013.75. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

First Solar Trading Down 4.3 %

NASDAQ:FSLR opened at $127.34 on Wednesday. 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 stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The firm has a fifty day simple moving average of $159.91 and a two-hundred day simple moving average of $189.73. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FSLR. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the third quarter valued at about $25,000. Larson Financial Group LLC grew its holdings in shares of 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 buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of 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 buying an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar during the fourth quarter valued at about $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar during the fourth quarter valued at about $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Bank of America dropped their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research note on Thursday, February 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Royal Bank of Canada dropped their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. 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. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average price target of $262.08.

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.