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

First Solar, Inc. (NASDAQ:FSLR) CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction on 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 transaction, the chief technology officer now owns 17,594 shares in the company, valued at approximately $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

First Solar Stock Down 4.3 %

Shares of NASDAQ FSLR opened at $127.34 on Wednesday. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77. The company has a market capitalization of $13.63 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm’s 50-day moving average is $159.91 and its two-hundred day moving average is $189.73.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on FSLR shares. Piper Sandler dropped their price objective 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. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price objective (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a report on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and issued a $285.00 target price (down previously from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Barclays lowered their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, First Solar has an average rating of “Moderate Buy” and an average target price of $262.08.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its position in shares of First Solar by 3.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock valued at $1,081,000 after buying an additional 222 shares during the last quarter. Lighthouse Financial LLC acquired a new position in shares of First Solar in the fourth quarter valued at approximately $363,000. Siemens Fonds Invest GmbH raised its position in shares of First Solar by 147.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock valued at $484,000 after buying an additional 1,640 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of First Solar in the fourth quarter valued at approximately $43,442,000. Finally, Mackenzie Financial Corp raised its position in shares of First Solar by 4.7% in the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after buying an additional 738 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.