First Solar, Inc. (NASDAQ:FSLR) Insider Michael Koralewski Sells 1,007 Shares of Stock

First Solar, Inc. (NASDAQ:FSLRGet Rating) insider Michael Koralewski sold 1,007 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $100.00, for a total transaction of $100,700.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Michael Koralewski also recently made the following trade(s):

  • On Friday, July 1st, Michael Koralewski sold 1,822 shares of First Solar stock. The shares were sold at an average price of $67.58, for a total transaction of $123,130.76.

First Solar Stock Up 0.3 %

First Solar stock opened at $99.49 on Tuesday. The stock’s 50 day moving average price is $70.20 and its 200 day moving average price is $73.01. The company has a market cap of $10.60 billion, a PE ratio of 56.53, a price-to-earnings-growth ratio of 71.94 and a beta of 1.49. First Solar, Inc. has a 1-year low of $59.60 and a 1-year high of $123.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.21 and a quick ratio of 3.20.

First Solar (NASDAQ:FSLRGet Rating) last released its quarterly earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). First Solar had a return on equity of 3.21% and a net margin of 7.63%. The company had revenue of $621.00 million during the quarter, compared to analyst estimates of $606.45 million. During the same period last year, the firm earned $0.77 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts predict that First Solar, Inc. will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

Institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in First Solar during the fourth quarter valued at about $26,000. Sageworth Trust Co of South Dakota acquired a new position in shares of First Solar in the fourth quarter worth about $29,000. Ellevest Inc. lifted its stake in shares of First Solar by 53.3% in the first quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 130 shares in the last quarter. Covestor Ltd raised its stake in 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 buying an additional 208 shares in the last quarter. Finally, IndexIQ Advisors LLC acquired a new stake in First Solar during the fourth quarter valued at approximately $49,000. 75.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Credit Suisse Group decreased their price objective on shares of First Solar to $77.00 in a report on Monday, July 25th. Piper Sandler upgraded First Solar from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $90.00 in a research note on Thursday, May 12th. JPMorgan Chase & Co. upped their target price on First Solar from $73.00 to $83.00 and gave the stock a “maintains” rating in a research note on Friday. Robert W. Baird increased their price objective on First Solar from $98.00 to $119.00 in a research note on Friday. Finally, Oppenheimer raised First Solar from a “market perform” rating to an “outperform” rating and set a $116.00 price objective for the company in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $94.87.

About First Solar

(Get Rating)

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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Insider Buying and Selling by Quarter for First Solar (NASDAQ:FSLR)

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