First Solar (NASDAQ:FSLR) CTO Sells $90,564.60 in Stock

by · The Cerbat Gem

First Solar, Inc. (NASDAQ:FSLRGet Free Report) CTO Markus Gloeckler sold 420 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $90,564.60. Following the transaction, the chief technology officer owned 10,896 shares of the company’s stock, valued at approximately $2,349,504.48. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Markus Gloeckler also recently made the following trade(s):

  • On Monday, March 16th, Markus Gloeckler sold 368 shares of First Solar stock. The stock was sold at an average price of $200.80, for a total value of $73,894.40.
  • On Monday, March 9th, Markus Gloeckler sold 1,325 shares of First Solar stock. The stock was sold at an average price of $190.36, for a total value of $252,227.00.
  • On Wednesday, March 4th, Markus Gloeckler sold 3,640 shares of First Solar stock. The stock was sold at an average price of $196.95, for a total transaction of $716,898.00.
  • On Tuesday, March 3rd, Markus Gloeckler sold 3,425 shares of First Solar stock. The stock was sold at an average price of $195.93, for a total transaction of $671,060.25.

First Solar Trading Up 3.7%

First Solar stock traded up $7.82 during trading on Tuesday, hitting $219.21. The company had a trading volume of 3,163,381 shares, compared to its average volume of 2,362,970. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.48 and a beta of 1.57. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 1-year low of $125.80 and a 1-year high of $285.99. The company’s 50 day simple moving average is $198.46 and its 200-day simple moving average is $231.85.

First Solar (NASDAQ:FSLRGet Free Report) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 earnings per share. As a group, analysts expect that First Solar, Inc. will post 17.33 EPS for the current fiscal year.

Key Headlines Impacting First Solar

Here are the key news stories impacting First Solar this week:

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in First Solar by 3.5% in the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after purchasing an additional 464,130 shares during the period. Geode Capital Management LLC raised its holdings in First Solar by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock valued at $761,396,000 after acquiring an additional 24,206 shares in the last quarter. Viking Global Investors LP raised its holdings in First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Amundi lifted its stake in First Solar by 9.4% in the fourth quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer’s stock worth $578,791,000 after acquiring an additional 189,626 shares during the last quarter. Finally, Norges Bank acquired a new position in First Solar during the 4th quarter worth approximately $392,040,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays cut their price objective on First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. UBS Group cut their price objective on First Solar from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday. DZ Bank upgraded shares of First Solar to a “strong sell” rating in a report on Thursday, February 26th. Needham & Company LLC lifted their price objective on shares of First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Finally, Morgan Stanley dropped their price objective on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $246.10.

Get Our Latest Research Report on First Solar

About First Solar

(Get Free Report)

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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