First Solar, Inc. (NASDAQ:FSLR - Get Free Report) CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the sale, the chief executive officer now owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This trade represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
First Solar Stock Down 2.2 %
Shares of FSLR stock traded down $3.06 during trading hours on Wednesday, reaching $136.04. 2,133,550 shares of the company's stock were exchanged, compared to its average volume of 2,750,801. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77. The stock has a market cap of $14.56 billion, a PE ratio of 11.72, a PEG ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock's fifty day moving average price is $164.63 and its two-hundred day moving average price is $192.76.
First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.
Institutional Investors Weigh In On First Solar
Institutional investors and hedge funds have recently modified their holdings of the company. Whalen Wealth Management Inc. lifted its holdings in shares of First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after purchasing an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock worth $7,308,000 after purchasing an additional 34,074 shares during the period. Stifel Financial Corp lifted its holdings in shares of First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock worth $5,350,000 after purchasing an additional 5,780 shares during the period. Paragon Capital Management Inc. acquired a new position in First Solar in the fourth quarter valued at approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock valued at $104,910,000 after acquiring an additional 49,074 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.
Analysts Set New Price Targets
FSLR has been the subject of several research analyst reports. Bank of America decreased their target price on First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada decreased their target price on First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Truist Financial restated a "buy" rating and issued a $285.00 price objective (down from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, Mizuho upgraded First Solar from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $262.08.
View Our Latest Analysis on FSLR
About First Solar
(
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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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