First Solar, Inc. (NASDAQ:FSLR) General Counsel Sells $48,551.25 in Stock

First Solar, Inc. (NASDAQ:FSLR) General Counsel Jason E. Dymbort sold 363 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 $48,551.25. Following the completion of the transaction, the general counsel now directly owns 22,273 shares in the company, valued at $2,979,013.75. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $129.34 on Thursday. The firm’s 50-day moving average price is $158.67 and its 200-day moving average price is $189.31. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. The firm has a market capitalization of $13.85 billion, a P/E ratio of 11.14, 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) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. 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 note on Wednesday, February 26th. Barclays decreased 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 note on Friday, February 28th. Finally, Royal Bank of Canada decreased their target price on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average target price of $262.08.

Hedge Funds Weigh In On First Solar

Institutional investors have recently made changes to their positions in the stock. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the third quarter valued at about $25,000. Larson Financial Group LLC raised its holdings in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC increased its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter worth about $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the fourth quarter worth about $53,000. 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.