Markus Gloeckler Sells 380 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the sale, the chief technology officer now owns 17,594 shares in the company, valued at approximately $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

First Solar Stock Performance

NASDAQ FSLR opened at $129.34 on Thursday. The company has a fifty day moving average of $158.67 and a two-hundred day moving average of $189.31. The company has a market capitalization of $13.85 billion, a PE ratio of 11.14, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently modified their holdings of the business. Whalen Wealth Management Inc. grew its position in First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after purchasing an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after buying an additional 34,074 shares during the period. Stifel Financial Corp grew its holdings in shares of First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after buying an additional 5,780 shares during the last quarter. Paragon Capital Management Inc. acquired a new position in First Solar in the 4th quarter valued at about $1,240,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after acquiring an additional 49,074 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FSLR shares. Piper Sandler reduced their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Barclays dropped their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Guggenheim decreased their target price on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $262.08.

First Solar Company Profile

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.