Georges Antoun Sells Shares of First Solar, Inc. (NASDAQ:FSLR)

An insider at First Solar, Inc. (NASDAQ:FSLR) named Georges Antoun has recently sold 229 shares of the company's stock. This transaction took place on Monday, March 17th, and the shares were sold at an average price of $133.75 each, resulting in a total transaction value of $30,628.75. After this sale, Antoun now holds 52,836 shares of First Solar, which are currently valued at around $7,066,815. As a result of this transaction, his ownership of the stock has decreased by 0.43%. This trade was formally reported in a filing with the Securities and Exchange Commission (SEC).

First Solar Price Performance

During trading hours on Tuesday, First Solar's stock price fell by $5.69 to reach $127.34. The trading volume for the day was 3,015,970 shares, exceeding its average volume of 2,556,447 shares. The 50-day moving average for First Solar stands at $159.91, while its 200-day moving average is $189.73. The company's total market capitalization is approximately $13.63 billion, with a price-to-earnings (PE) ratio of 10.97, a price-to-earnings growth (PEG) ratio of 0.19, and a beta of 1.52. Over the past year, First Solar has experienced a trading range with a low of $124.96 and a high of $306.77. Additionally, the company has a current ratio of 2.14, a quick ratio of 1.44, and a very low debt-to-equity ratio of 0.05.

Quarterly Earnings Overview

First Solar, Inc. last released its quarterly earnings report on Tuesday, February 25th. The firm reported earnings of $3.65 per share, which fell short of analysts' expectations of $4.81 per share by a margin of $1.16. The quarterly revenue was reported at $1.51 billion, slightly beating analyst estimates of $1.48 billion. The company achieved a return on equity of 17.56% and a net margin of 32.41%. Looking forward, analysts predict that First Solar will report earnings of 13.05 per share for the current fiscal year.

Analyst Ratings and Price Targets

Several market analysts have recently provided insights into First Solar’s stock. Citigroup lowered its price target on First Solar from $254.00 to $236.00 and issued a “neutral” rating in its research note dated February 26th. Morgan Stanley also decreased its target from $297.00 to $238.00 and maintained an “overweight” rating. Guggenheim adjusted its price target downwards from $335.00 to $304.00 while keeping a “buy” rating, and Barclays followed suit by reducing its target from $273.00 to $236.00, also maintaining an “overweight” rating. Piper Sandler cut its price objective from $250.00 to $230.00 but kept an “overweight” designation. In total, four analysts recommend holding the stock, while 23 analysts issue buy ratings and two suggest strong buy ratings. According to data from MarketBeat, First Solar holds a consensus rating of "Moderate Buy" with an average price target of $262.08.

Institutional Investors' Activity

Recently, several large investors have adjusted their holdings in First Solar. Wealth Enhancement Advisory Services LLC increased their stake by 3.8% during the fourth quarter and now owns 6,134 shares valued at $1,081,000 after acquiring an additional 222 shares. Lighthouse Financial LLC invested in First Solar, acquiring a new stake valued at $363,000. Siemens Fonds Invest GmbH raised its stake by a substantial 147.9% during the same period, now possessing 2,749 shares worth $484,000 after buying another 1,640 shares. Universal Beteiligungs und Servicegesellschaft mbH also made a new investment in First Solar worth about $43,442,000. Finally, Mackenzie Financial Corp increased its holdings by 4.7%, now owning 16,276 shares valued at $2,868,000 after an additional purchase of 738 shares. Overall, institutional investors and hedge funds control about 92.08% of First Solar's stock.FirstSolar, Shares, Transaction