Mark R. Widmar Sells 32,239 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLRGet Rating) CEO Mark R. Widmar sold 32,239 shares of First Solar stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $89.72, for a total transaction of $2,892,483.08. Following the sale, the chief executive officer now directly owns 81,861 shares of the company’s stock, valued at $7,344,568.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

First Solar Trading Up 12.1 %

Shares of First Solar stock opened at $99.17 on Friday. First Solar, Inc. has a 52-week low of $59.60 and a 52-week high of $123.13. The company has a quick ratio of 2.93, a current ratio of 4.07 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $70.20 and its 200-day simple moving average is $73.15. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 14.55 and a beta of 1.32.

First Solar (NASDAQ:FSLRGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). First Solar had a return on equity of 3.68% and a net margin of 8.68%. The firm had revenue of $621.00 million for the quarter, compared to analyst estimates of $606.45 million. During the same quarter last year, the firm earned $0.77 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that First Solar, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the subject of several recent analyst reports. Piper Sandler raised shares of First Solar from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $80.00 to $90.00 in a research report on Thursday, May 12th. Credit Suisse Group decreased their price objective on shares of First Solar to $77.00 in a research report on Monday, July 25th. Bank of America lifted their price target on shares of First Solar from $62.00 to $63.00 and gave the stock an “underperform” rating in a research note on Monday, July 18th. Oppenheimer upgraded shares of First Solar from a “market perform” rating to an “outperform” rating and set a $116.00 price target on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price target on shares of First Solar from $73.00 to $83.00 and gave the stock a “maintains” rating in a research note on Friday. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Hold” and a consensus target price of $92.68.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in First Solar during the fourth quarter worth about $26,000. Sageworth Trust Co of South Dakota purchased a new stake in First Solar during the fourth quarter worth about $29,000. Ellevest Inc. boosted its holdings in First Solar by 53.3% during the first quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 130 shares in the last quarter. Covestor Ltd boosted its holdings in First Solar by 97.7% during the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock worth $35,000 after buying an additional 208 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new stake in First Solar during the fourth quarter worth about $49,000. 75.42% of the stock is currently owned by institutional investors and hedge funds.

First Solar Company Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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