First Solar, Inc. (NASDAQ:FSLR) Insider Georges Antoun Sells 229 Shares

First Solar, Inc. (NASDAQ:FSLR) insider Georges Antoun sold 229 shares of First Solar 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 $30,628.75. Following the sale, the insider now directly owns 52,836 shares of the company’s stock, valued at $7,066,815. This represents a 0.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

First Solar Price Performance

Shares of First Solar stock traded down $5.69 during trading hours on Tuesday, reaching $127.34. The stock had a trading volume of 3,015,970 shares, compared to its average volume of 2,556,447. The stock’s 50 day moving average is $159.91 and its 200 day moving average is $189.73. The firm has a market capitalization of $13.63 billion, a PE ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a twelve month low of $124.96 and a twelve month high of $306.77. 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) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 17.56% and a net margin of 32.41%. Equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup decreased 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 note on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Guggenheim cut their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Barclays cut their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Piper Sandler cut their price objective 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 analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FSLR. Wealth Enhancement Advisory Services LLC increased its stake in shares of First Solar by 3.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock worth $1,081,000 after purchasing an additional 222 shares in the last quarter. Lighthouse Financial LLC purchased a new stake in shares of First Solar during the fourth quarter worth about $363,000. Siemens Fonds Invest GmbH increased its stake in shares of First Solar by 147.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock worth $484,000 after purchasing an additional 1,640 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of First Solar during the fourth quarter worth about $43,442,000. Finally, Mackenzie Financial Corp increased its stake in shares of First Solar by 4.7% during the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after purchasing an additional 738 shares in 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.