First Solar, Inc. (NASDAQ:FSLR) CTO Sells $219,763.90 in Stock

First Solar, Inc. (NASDAQ:FSLR) CTO Markus Gloeckler sold 2,843 shares of the company’s stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $77.30, for a total transaction of $219,763.90. Following the completion of the sale, the chief technology officer now directly owns 4,932 shares of the company’s stock, valued at $381,243.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Wednesday, March 24th, Markus Gloeckler sold 1,456 shares of First Solar stock. The shares were sold at an average price of $81.64, for a total transaction of $118,867.84.

FSLR stock opened at $80.40 on Friday. The firm has a 50 day simple moving average of $78.16. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 16.61 and a beta of 1.29. First Solar, Inc. has a 12 month low of $47.87 and a 12 month high of $112.50. The company has a quick ratio of 3.86, a current ratio of 4.69 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, April 29th. The solar cell manufacturer reported $1.96 EPS for the quarter, beating the consensus estimate of $1.00 by $0.96. First Solar had a net margin of 17.34% and a return on equity of 9.48%. The business had revenue of $803.37 million for the quarter, compared to analyst estimates of $694.80 million. During the same period in the prior year, the business earned $0.85 earnings per share. Sell-side analysts expect that First Solar, Inc. will post 4.49 EPS for the current year.

A number of brokerages have recently commented on FSLR. The Goldman Sachs Group reduced their target price on shares of First Solar from $81.00 to $69.00 in a report on Friday, February 26th. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and increased their price target for the stock from $88.00 to $100.00 in a report on Monday, April 19th. Credit Suisse Group raised shares of First Solar from an “underperform” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Monday, March 8th. Barclays raised shares of First Solar from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $65.00 to $84.00 in a report on Thursday, April 22nd. Finally, Morgan Stanley increased their price target on shares of First Solar from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Tuesday, March 16th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $95.76.

A number of hedge funds and other institutional investors have recently made changes to their positions in FSLR. FMR LLC boosted its position in First Solar by 10,102.9% during the first quarter. FMR LLC now owns 97,744 shares of the solar cell manufacturer’s stock worth $5,164,000 after acquiring an additional 96,786 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of First Solar by 7.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,777 shares of the solar cell manufacturer’s stock valued at $374,000 after purchasing an additional 251 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of First Solar by 28.8% in the 4th quarter. Victory Capital Management Inc. now owns 52,825 shares of the solar cell manufacturer’s stock valued at $5,225,000 after purchasing an additional 11,816 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of First Solar in the 4th quarter valued at $1,593,000. Finally, Bouvel Investment Partners LLC acquired a new position in shares of First Solar in the 4th quarter valued at $1,915,000. Hedge funds and other institutional investors own 75.42% of the company’s stock.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. It operates in two segments, Modules and Systems. The Modules segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity to integrators and operators of PV solar power systems.

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