First Solar, Inc. (NASDAQ:FSLR) Insider Michael Koralewski Sells 2,951 Shares

First Solar, Inc. (NASDAQ:FSLR) insider Michael Koralewski sold 2,951 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the sale, the insider now directly owns 11,369 shares of the company’s stock, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

First Solar Trading Up 0.3%

Shares of FSLR stock opened at $159.81 on Thursday. The firm has a 50-day moving average price of $142.44 and a 200 day moving average price of $160.01. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The company has a market capitalization of $17.14 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.19 and a beta of 1.46. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. Research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group increased their price target on First Solar from $204.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target (down from $245.00) on shares of First Solar in a report on Thursday, May 1st. Oppenheimer downgraded First Solar from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 30th. Royal Bank of Canada decreased their target price on shares of First Solar from $237.00 to $214.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Citigroup reduced their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.94.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Garde Capital Inc. purchased a new stake in First Solar in the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC purchased a new stake in First Solar in the 1st quarter valued at about $25,000. Colonial Trust Advisors purchased a new stake in First Solar in the 1st quarter valued at about $32,000. Larson Financial Group LLC grew its holdings in First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after buying an additional 219 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in First Solar by 31.7% in the 4th 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 period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

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.