R Craig Kennedy Sells 2,000 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) Director R Craig Kennedy sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $196.73, for a total value of $393,460.00. Following the completion of the sale, the director now owns 13,908 shares of the company’s stock, valued at approximately $2,736,120.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, March 1st, R Craig Kennedy sold 1,500 shares of First Solar stock. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00.

First Solar Trading Down 2.0 %

NASDAQ FSLR opened at $190.72 on Thursday. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $169.38 and its 200-day moving average price is $159.14. The stock has a market cap of $20.41 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.33 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating the consensus estimate of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. First Solar’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in First Solar during the 4th quarter valued at $298,123,000. Clean Energy Transition LLP increased its holdings in First Solar by 948.8% in the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after buying an additional 1,073,500 shares in the last quarter. Barclays PLC increased its holdings in First Solar by 125.5% in the 3rd quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer’s stock worth $137,130,000 after buying an additional 472,327 shares in the last quarter. Schroder Investment Management Group raised its position in First Solar by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after buying an additional 351,540 shares during the last quarter. Finally, Covalis Capital LLP lifted its stake in First Solar by 615.6% during the 3rd quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer’s stock valued at $65,931,000 after acquiring an additional 350,996 shares during the period. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FSLR shares. Barclays boosted their price objective on shares of First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Susquehanna reaffirmed a “positive” rating and set a $258.00 price target on shares of First Solar in a research report on Friday, April 5th. UBS Group lifted their price objective on First Solar from $250.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $187.00 to $250.00 in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of First Solar from $237.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, First Solar has an average rating of “Moderate Buy” and an average price target of $238.16.

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.