First Solar (NASDAQ:FSLR) Trading Down 1.4% After Insider Selling

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) shares dropped 1.4% during mid-day trading on Monday following insider selling activity. The stock traded as low as $134.63 and last traded at $137.16. Approximately 823,882 shares traded hands during trading, a decline of 69% from the average daily volume of 2,679,635 shares. The stock had previously closed at $139.13.

Specifically, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the sale, the insider now owns 4,695 shares of the company's stock, valued at approximately $624,247.20. The trade was a 8.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the sale, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here.

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Analysts Set New Price Targets

Several analysts have issued reports on FSLR shares. UBS Group dropped their price objective on First Solar from $360.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Citigroup reduced their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Barclays dropped their target price on shares of First Solar from $273.00 to $236.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Truist Financial reaffirmed a "buy" rating and set a $285.00 target price (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, Piper Sandler cut their price target on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Four equities research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $262.08.

First Solar Price Performance

The company's fifty day moving average is $165.43 and its two-hundred day moving average is $193.16. The stock has a market cap of $14.56 billion, a price-to-earnings ratio of 11.72, a P/E/G 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.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC boosted its holdings in shares of First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock valued at $1,623,000 after purchasing an additional 55 shares during the last quarter. Doliver Advisors LP boosted its stake in First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock valued at $831,000 after acquiring an additional 56 shares during the period. Smartleaf Asset Management LLC grew its stake in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after buying an additional 63 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock worth $368,000 after acquiring an additional 63 shares during the period. Finally, Sigma Planning Corp grew its position in First Solar by 4.8% in the 3rd quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer's stock worth $362,000 after purchasing an additional 67 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.