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

First Solar, Inc. (NASDAQ:FSLR – Get Rating) insider Patrick James Buehler acquired 489 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was purchased at an average price of $102.10 per share, with a total value of $49,926.90. Following the completion of the acquisition, the insider now directly owns 4,117 shares of the company’s stock, valued at $420,345.70. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

First Solar Stock Performance

NASDAQ FSLR traded up $2.73 during trading hours on Friday, reaching $101.90. The stock had a trading volume of 3,310,319 shares, compared to its average volume of 1,743,471. The stock has a fifty day moving average of $72.83 and a 200 day moving average of $73.59. The stock has a market cap of $10.86 billion, a P/E ratio of 56.35, a price-to-earnings-growth ratio of 1,467.62 and a beta of 1.49. First Solar, Inc. has a 52-week low of $59.60 and a 52-week high of $123.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.20 and a current ratio of 4.21.

First Solar (NASDAQ:FSLR – Get Rating) last issued its earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). The firm had revenue of $621.00 million during the quarter, compared to analysts’ expectations of $606.45 million. First Solar had a net margin of 7.63% and a return on equity of 3.21%. First Solar’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Sell-side analysts predict that First Solar, Inc. will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On First Solar

A number of large investors have recently bought and sold shares of FSLR. Cullen Frost Bankers Inc. purchased a new stake in First Solar in the fourth quarter valued at approximately $26,000. Sageworth Trust Co of South Dakota acquired a new position in First Solar in the fourth quarter valued at approximately $29,000. Ellevest Inc. lifted its holdings in First Solar by 53.3% in the first quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 130 shares during the period. Covestor Ltd lifted its holdings in First Solar by 97.7% in the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock valued at $35,000 after acquiring an additional 208 shares during the period. Finally, IndexIQ Advisors LLC acquired a new position in First Solar in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 75.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FSLR. JPMorgan Chase & Co. lifted their price objective on First Solar from $69.00 to $73.00 in a report on Wednesday, July 20th. Credit Suisse Group decreased their price objective on First Solar to $77.00 in a report on Monday, July 25th. Robert W. Baird lifted their price objective on First Solar from $98.00 to $119.00 in a report on Friday, July 29th. Barclays began coverage on First Solar in a research note on Friday. They issued an “underweight” rating and a $89.00 target price on the stock. Finally, Morgan Stanley cut their target price on First Solar from $62.00 to $54.00 and set an “underweight” rating on the stock in a research note on Monday, June 13th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.92.

About First Solar

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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.