First Solar (NASDAQ:FSLR) Shares Gap Down Following Insider Selling

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $177.06, but opened at $168.32. First Solar shares last traded at $170.57, with a volume of 942,234 shares trading hands.

Specifically, insider Patrick James Buehler sold 1,600 shares of First Solar stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the sale, the insider owned 4,398 shares of the company's stock, valued at approximately $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BMO Capital Markets dropped their target price on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada lifted their price objective on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Morgan Stanley set a $223.00 price objective on First Solar and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Wolfe Research raised First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target on the stock in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their target price on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $228.69.

First Solar Stock Performance

The firm has a 50-day moving average price of $157.39 and a 200 day moving average price of $154.44. The firm has a market capitalization of $18.35 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 0.37 and a beta of 1.52. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). The company had revenue of $844.57 million for the quarter, compared to analysts' expectations of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. Research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Institutional Trading of First Solar

A number of institutional investors have recently added to or reduced their stakes in FSLR. Norges Bank bought a new position in shares of First Solar in the 4th quarter worth about $317,399,000. Nuveen LLC bought a new stake in First Solar during the 1st quarter valued at $114,730,000. Canada Pension Plan Investment Board raised its stake in shares of First Solar by 16,857.8% during the first quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock valued at $95,965,000 after purchasing an additional 754,557 shares in the last quarter. Demars Financial Group LLC raised its position in shares of First Solar by 17,404.5% during the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock worth $127,379,000 after buying an additional 718,631 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after purchasing an additional 592,444 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.

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