Michael Koralewski Sells 2,951 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider now directly owns 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

First Solar Trading Up 2.5%

First Solar stock traded up $4.03 during trading hours on Thursday, hitting $163.84. The company had a trading volume of 3,602,557 shares, compared to its average volume of 3,064,933. The firm has a market cap of $17.57 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.19 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The company has a 50-day moving average price of $142.44 and a two-hundred day moving average price of $160.01.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Institutional Investors Weigh In On First Solar

Several institutional investors have recently modified their holdings of FSLR. Garde Capital Inc. purchased a new stake in First Solar during the first quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of First Solar in the first quarter valued at $25,000. Colonial Trust Advisors purchased a new position in shares of First Solar in the first quarter valued at $32,000. Larson Financial Group LLC grew its holdings in First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after acquiring an additional 63 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FSLR. Redburn Atlantic began coverage on First Solar in a report on Monday, March 3rd. They set a "neutral" rating for the company. Roth Mkm reiterated a "buy" rating and set a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Morgan Stanley set a $223.00 price target on First Solar and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Jefferies Financial Group restated a "hold" rating and issued a $157.00 price target (up previously from $127.00) on shares of First Solar in a report on Thursday, May 22nd. Finally, Barclays lowered their target price on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, First Solar has an average rating of "Moderate Buy" and an average price target of $227.94.

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.