First Solar (NASDAQ:FSLR) Shares Down 4.6% on Insider Selling

First Solar, Inc. (NASDAQ:FSLRGet Free Report) traded down 4.6% on Friday after an insider sold shares in the company. The company traded as low as $261.50 and last traded at $264.11. 1,540,840 shares were traded during trading, a decline of 34% from the average session volume of 2,335,025 shares. The stock had previously closed at $276.78.

Specifically, CFO Alexander R. Bradley sold 16,051 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the transaction, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. Insiders have sold 74,652 shares of company stock worth $16,151,867 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FSLR has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of First Solar from $209.50 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley lifted their target price on First Solar from $245.00 to $248.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. The Goldman Sachs Group lifted their price objective on shares of First Solar from $265.00 to $268.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Mizuho restated a “neutral” rating and set a $274.00 price objective (up previously from $209.00) on shares of First Solar in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $251.16.

Get Our Latest Stock Analysis on FSLR

First Solar Trading Down 1.8 %

The firm has a market cap of $29.09 billion, a PE ratio of 28.49, a PEG ratio of 0.37 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The business has a 50-day moving average price of $194.93 and a two-hundred day moving average price of $169.37.

First Solar (NASDAQ:FSLRGet Free Report) last posted its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. During the same period last year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. Analysts forecast that First Solar, Inc. will post 13.56 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in shares of First Solar by 7.7% in the third quarter. Victory Capital Management Inc. now owns 49,138 shares of the solar cell manufacturer’s stock worth $7,940,000 after acquiring an additional 3,507 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in First Solar by 7.0% in the 3rd quarter. Retirement Systems of Alabama now owns 24,155 shares of the solar cell manufacturer’s stock valued at $3,903,000 after purchasing an additional 1,575 shares in the last quarter. Jump Financial LLC lifted its holdings in First Solar by 10.2% in the 3rd quarter. Jump Financial LLC now owns 6,504 shares of the solar cell manufacturer’s stock valued at $1,051,000 after purchasing an additional 601 shares in the last quarter. Atria Investments Inc grew its holdings in shares of First Solar by 6.2% during the third quarter. Atria Investments Inc now owns 7,750 shares of the solar cell manufacturer’s stock worth $1,252,000 after buying an additional 450 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its position in shares of First Solar by 15.9% in the third quarter. Chartwell Investment Partners LLC now owns 4,160 shares of the solar cell manufacturer’s stock valued at $672,000 after buying an additional 570 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

About First Solar

(Get Free Report)

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.

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