Insider Selling: First Solar, Inc. (NASDAQ:FSLR) Director Sells 550 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) Director R Craig Kennedy sold 550 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $72.56, for a total transaction of $39,908.00. Following the sale, the director now owns 28,029 shares of the company’s stock, valued at $2,033,784.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

R Craig Kennedy also recently made the following trade(s):

  • On Monday, August 17th, R Craig Kennedy sold 550 shares of First Solar stock. The shares were sold at an average price of $75.15, for a total value of $41,332.50.

Shares of NASDAQ FSLR traded down $0.93 during mid-day trading on Wednesday, reaching $71.96. The company had a trading volume of 1,515,729 shares, compared to its average volume of 1,610,536. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.66. First Solar, Inc. has a twelve month low of $28.47 and a twelve month high of $81.87. The stock’s 50 day moving average is $71.14 and its 200-day moving average is $51.78. The stock has a market capitalization of $7.63 billion, a PE ratio of 75.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.54.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, August 6th. The solar cell manufacturer reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. First Solar had a return on equity of 7.18% and a net margin of 3.17%. The firm had revenue of $642.41 million for the quarter, compared to the consensus estimate of $490.53 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that First Solar, Inc. will post 2.89 EPS for the current year.

Several equities research analysts have recently weighed in on FSLR shares. Cfra lowered First Solar to a “sell” rating in a research note on Wednesday, June 17th. UBS Group boosted their price target on shares of First Solar from $63.00 to $75.00 and gave the company a “buy” rating in a report on Friday, August 7th. BofA Securities upgraded shares of First Solar from a “neutral” rating to a “buy” rating in a research report on Friday, August 7th. Barclays lowered their price objective on shares of First Solar from $51.00 to $45.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Finally, Bank of America boosted their target price on shares of First Solar from $73.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $63.14.

Several hedge funds and other institutional investors have recently made changes to their positions in FSLR. Bartlett & Co. LLC acquired a new position in First Solar in the second quarter worth approximately $25,000. Barrett Asset Management LLC grew its position in First Solar by 150.0% in the second quarter. Barrett Asset Management LLC now owns 625 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 375 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of First Solar by 237.0% during the 2nd quarter. Glenmede Trust Co. NA now owns 792 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 557 shares during the last quarter. Banco de Sabadell S.A bought a new position in shares of First Solar during the 1st quarter valued at $32,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of First Solar by 238.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,335 shares of the solar cell manufacturer’s stock valued at $66,000 after purchasing an additional 940 shares during the last quarter. 60.90% of the stock is owned by institutional investors and hedge funds.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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