First Solar (NASDAQ:FSLR) Trading Down 4.4% After Insider Selling

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) dropped 4.4% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $126.02 and last traded at $127.21. Approximately 1,012,238 shares were traded during 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 stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the transaction, the chief executive officer now directly owns 111,890 shares of the company's stock, valued at approximately $14,965,287.50. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, General Counsel Jason E. Dymbort sold 363 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $48,551.25. Following the transaction, the general counsel now directly owns 22,273 shares of the company's stock, valued at approximately $2,979,013.75. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research reports. Robert W. Baird cut their price objective on First Solar from $307.00 to $267.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. Citigroup lowered their target price on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on First Solar in a research note on Monday, March 3rd. They issued a "neutral" rating on the stock. Barclays lowered their target price 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. Finally, Seaport Res Ptn upgraded First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $262.08.

First Solar Stock Up 2.2 %

The business has a fifty day simple moving average of $156.26 and a 200 day simple moving average of $187.86. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR - Get Free Report) last announced 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 net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently made changes to their positions in FSLR. Prospera Financial Services Inc increased its holdings in shares of First Solar by 52.5% in the third quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer's stock valued at $508,000 after purchasing an additional 701 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of First Solar by 5.3% in the third quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer's stock valued at $3,847,000 after purchasing an additional 777 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of First Solar by 32.7% in the third quarter. Jennison Associates LLC now owns 48,289 shares of the solar cell manufacturer's stock valued at $12,045,000 after purchasing an additional 11,894 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of First Solar by 8.6% in the third quarter. Advisors Asset Management Inc. now owns 5,718 shares of the solar cell manufacturer's stock valued at $1,426,000 after purchasing an additional 452 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of First Solar by 17.0% in the third quarter. Moors & Cabot Inc. now owns 1,313 shares of the solar cell manufacturer's stock valued at $328,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

About First Solar

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.