Insider Selling: First Solar (NASDAQ:FSLR) CFO Sells 590 Shares of Stock
by Scott Moore · The Cerbat GemFirst Solar, Inc. (NASDAQ:FSLR – Get Free Report) CFO Alexander Bradley sold 590 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $200.80, for a total transaction of $118,472.00. Following the transaction, the chief financial officer directly owned 44,106 shares in the company, valued at approximately $8,856,484.80. This represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
First Solar Trading Up 0.5%
NASDAQ:FSLR traded up $0.94 during trading hours on Tuesday, reaching $200.42. The company’s stock had a trading volume of 1,358,366 shares, compared to its average volume of 2,623,352. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The firm has a market capitalization of $21.51 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.35 and a beta of 1.65. The firm has a 50-day simple moving average of $224.42 and a 200-day simple moving average of $236.51. First Solar, Inc. has a 1 year low of $116.56 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.38). The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.59 billion. First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.65 earnings per share. Research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Aventura Private Wealth LLC purchased a new stake in shares of First Solar in the 4th quarter worth about $25,000. Reflection Asset Management purchased a new position in shares of First Solar during the fourth quarter valued at about $26,000. Commonwealth Retirement Investments LLC purchased a new position in shares of First Solar during the fourth quarter valued at about $26,000. Larson Financial Group LLC raised its stake in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in First Solar in the fourth quarter worth about $30,000. 92.08% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
FSLR has been the topic of a number of analyst reports. Wolfe Research cut First Solar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Solar in a research note on Monday, December 29th. Mizuho cut their target price on shares of First Solar from $326.00 to $271.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. HSBC reaffirmed a “hold” rating and issued a $211.00 target price (down from $280.00) on shares of First Solar in a research note on Wednesday, February 25th. Finally, Robert W. Baird reissued a “neutral” rating and set a $205.00 price target (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.17.
Get Our Latest Stock Analysis 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.