First Solar, Inc. (NASDAQ:FSLR – Get Free Report) insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $158.00, for a total value of $379,200.00. Following the completion of the transaction, the insider now directly owns 44,441 shares of the company’s stock, valued at $7,021,678. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
First Solar Trading Down 0.5 %
Shares of NASDAQ FSLR traded down $0.75 during trading hours on Monday, hitting $159.54. The company’s stock had a trading volume of 1,933,111 shares, compared to its average volume of 2,308,873. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.45 and a current ratio of 3.19. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 36.26 and a beta of 1.40. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00. The business has a 50-day simple moving average of $151.19 and a 200-day simple moving average of $177.10.
First Solar (NASDAQ:FSLR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The solar cell manufacturer reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.41. The business had revenue of $801.09 million for the quarter, compared to analysts’ expectations of $904.11 million. First Solar had a return on equity of 8.35% and a net margin of 14.99%. The business’s revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.46) EPS. On average, analysts anticipate that First Solar, Inc. will post 8 earnings per share for the current fiscal year.
Institutional Trading of First Solar
Several large investors have recently bought and sold shares of FSLR. First Pacific Financial purchased a new position in shares of First Solar during the third quarter valued at approximately $27,000. Estabrook Capital Management purchased a new position in shares of First Solar during the third quarter valued at approximately $29,000. Harbor Investment Advisory LLC purchased a new position in shares of First Solar during the third quarter valued at approximately $32,000. Covestor Ltd lifted its holdings in shares of First Solar by 97.7% during the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock valued at $35,000 after purchasing an additional 208 shares during the last quarter. Finally, RVW Wealth LLC purchased a new position in shares of First Solar during the third quarter valued at approximately $36,000. 82.08% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised First Solar from a “hold” rating to a “buy” rating and raised their price target for the stock from $220.00 to $235.00 in a report on Friday, September 8th. Piper Sandler cut their price target on First Solar from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Friday, October 6th. JPMorgan Chase & Co. raised First Solar from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $239.00 to $220.00 in a report on Thursday, October 19th. Roth Capital reaffirmed a “buy” rating and issued a $230.00 price target on shares of First Solar in a report on Friday, September 8th. Finally, BMO Capital Markets lowered their price objective on First Solar from $226.00 to $216.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.92.
Read Our Latest Analysis on FSLR
About First Solar
(Get Free Report)
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.
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