First Solar (NASDAQ:FSLR) General Counsel Jason Dymbort Sells 358 Shares
by Sarita Garza · The Markets DailyFirst Solar, Inc. (NASDAQ:FSLR – Get Free Report) General Counsel Jason Dymbort sold 358 shares of First Solar stock in a transaction on Monday, March 16th. The shares were sold at an average price of $200.80, for a total transaction of $71,886.40. Following the completion of the sale, the general counsel owned 18,872 shares of the company’s stock, valued at $3,789,497.60. This represents a 1.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
First Solar Stock Up 0.5%
NASDAQ FSLR traded up $0.94 on Tuesday, hitting $200.42. 1,358,366 shares of the company were exchanged, compared to its average volume of 2,623,352. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. The company has a market cap of $21.51 billion, a PE ratio of 14.10, a PEG ratio of 0.35 and a beta of 1.65. The stock has a fifty day moving average of $224.42 and a 200-day moving average of $236.51. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $285.99.
First Solar (NASDAQ:FSLR – Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm posted $3.65 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.
Institutional Trading of First Solar
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Stance Capital LLC grew its holdings in First Solar by 10,575.0% during the fourth quarter. Stance Capital LLC now owns 5,124 shares of the solar cell manufacturer’s stock worth $1,339,000 after buying an additional 5,076 shares in the last quarter. Forty three Eighteen Advisors LLC purchased a new stake in First Solar in the 4th quarter valued at $711,000. Rockefeller Capital Management L.P. lifted its stake in First Solar by 79.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 41,723 shares of the solar cell manufacturer’s stock valued at $10,899,000 after acquiring an additional 18,537 shares in the last quarter. Green Ridge Wealth Planning LLC bought a new position in First Solar during the 4th quarter valued at $234,000. Finally, Mengis Capital Management Inc. boosted its holdings in First Solar by 26.1% during the 4th quarter. Mengis Capital Management Inc. now owns 7,243 shares of the solar cell manufacturer’s stock worth $1,892,000 after acquiring an additional 1,500 shares during the last quarter. 92.08% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on FSLR shares. Bank of America dropped their price target on First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Wolfe Research downgraded First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company lowered their target price on First Solar from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. The Goldman Sachs Group cut their target price on First Solar from $316.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, Needham & Company LLC lifted their price target on shares of First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Twenty investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.17.
Read Our Latest Research Report on First Solar
About First Solar
First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.
Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.