First Solar, Inc. (NASDAQ:FSLR) Insider Purchases $49,926.90 in Stock

First Solar, Inc. (NASDAQ:FSLRGet Rating) insider Patrick James Buehler purchased 489 shares of First Solar stock in a transaction on Friday, August 5th. The stock was bought at an average cost of $102.10 per share, for a total transaction of $49,926.90. Following the transaction, the insider now directly owns 4,117 shares in the company, valued at $420,345.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First Solar Stock Performance

Shares of FSLR stock traded up $2.73 during midday trading on Friday, hitting $101.90. The company had a trading volume of 3,310,319 shares, compared to its average volume of 1,743,471. The company’s 50 day simple moving average is $72.83 and its 200 day simple moving average is $73.59. First Solar, Inc. has a 52-week low of $59.60 and a 52-week high of $123.13. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 56.35, a PEG ratio of 1,467.62 and a beta of 1.49. 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 announced its earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09). First Solar had a net margin of 7.63% and a return on equity of 3.21%. The company had revenue of $621.00 million during the quarter, compared to analysts’ expectations of $606.45 million. During the same quarter last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Research analysts anticipate that First Solar, Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FSLR. Barclays assumed coverage on First Solar in a research report on Friday. They issued an “underweight” rating and a $89.00 price target on the stock. JPMorgan Chase & Co. raised their target price on First Solar from $69.00 to $73.00 in a research report on Wednesday, July 20th. Robert W. Baird raised their target price on First Solar from $98.00 to $119.00 in a research report on Friday, July 29th. Bank of America raised First Solar from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $104.50 in a research report on Monday. Finally, Credit Suisse Group cut their target price on First Solar to $77.00 in a research report on Monday, July 25th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.92.

Institutional Trading of First Solar

Institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC boosted its stake in shares of First Solar by 22,940.0% in the first quarter. Clearstead Advisors LLC now owns 2,304 shares of the solar cell manufacturer’s stock valued at $193,000 after buying an additional 2,294 shares in the last quarter. KBC Group NV raised its holdings in First Solar by 5.7% during the fourth quarter. KBC Group NV now owns 24,862 shares of the solar cell manufacturer’s stock worth $2,167,000 after purchasing an additional 1,331 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in First Solar during the fourth quarter worth $26,000. Inspire Investing LLC acquired a new position in First Solar during the first quarter worth $287,000. Finally, HighTower Advisors LLC raised its holdings in First Solar by 3.8% during the fourth quarter. HighTower Advisors LLC now owns 86,586 shares of the solar cell manufacturer’s stock worth $7,598,000 after purchasing an additional 3,185 shares during the last quarter. 75.42% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Company Profile

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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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