Kuntal Kumar Verma Sells 419 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 419 shares of the firm’s 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 transaction, the insider now directly owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This trade represents a 8.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Kuntal Kumar Verma also recently made the following trade(s):

• On Friday, February 28th, Kuntal Kumar Verma sold 7,475 shares of First Solar stock. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $139.10 on Wednesday. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 0.19 and a beta of 1.52. The stock’s fifty day moving average price is $165.43 and its two-hundred day moving average price is $193.16.

First Solar (NASDAQ:FSLR) last released its quarterly 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 analyst estimates of $1.48 billion. On average, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Redburn Atlantic assumed coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. UBS Group cut their price objective on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Truist Financial restated a “buy” rating and set a $285.00 target price (down from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Bank of America dropped their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock worth $2,259,697,000 after buying an additional 120,289 shares in the last quarter. State Street Corp lifted its position in shares of First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after acquiring an additional 108,984 shares during the period. Geode Capital Management LLC grew its holdings in shares of First Solar by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock worth $469,154,000 after purchasing an additional 63,739 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after purchasing an additional 262,482 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of First Solar by 13.9% in the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after purchasing an additional 223,933 shares during the period. 92.08% of the stock is owned by institutional investors.

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.