First Solar (NASDAQ:FSLR) Shares Down 4.4% on Insider Selling

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) shares dropped 4.4% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $126.02 and last traded at $127.21. Approximately 1,012,238 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 2,544,866 shares. The stock had previously closed at $133.03.

Specifically, CEO Mark R. Widmar sold 1,966 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares of the company's stock, valued at $14,965,287.50. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In related news, General Counsel Jason E. Dymbort sold 363 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $48,551.25. Following the transaction, the general counsel now directly owns 22,273 shares in the company, valued at approximately $2,979,013.75. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays dropped their price objective on First Solar from $273.00 to $236.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Piper Sandler decreased their price objective on First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Citigroup dropped their price target on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Mizuho raised shares of First Solar from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $262.08.

First Solar Stock Up 2.2 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market cap of $14.06 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The firm's 50 day moving average price is $157.42 and its two-hundred day moving average price is $188.89.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

A number of large investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after buying an additional 107 shares in the last quarter. Smartleaf Asset Management LLC lifted its position 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 acquiring an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in First Solar during the 4th quarter valued at about $53,000. Hudson Edge Investment Partners Inc. bought a new stake in First Solar during the 4th quarter worth approximately $53,000. Finally, Banque Transatlantique SA purchased a new stake in shares of First Solar in the fourth quarter worth approximately $53,000. 92.08% of the stock is currently owned by institutional investors.

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.