First Solar, Inc. (NASDAQ:FSLR) CAO Nathan B. Theurer Sells 686 Shares

Key Points

• First Solar's CAO Nathan B. Theurer sold 686 shares of the company at an average price of $182.03, totaling approximately $124,872.58.
• The company's stock reached $219.33 during midday trading, with a market cap of $23.52 billion and a P/E ratio of 18.76.
• First Solar reported $3.18 EPS for the last quarter, exceeding earnings estimates by $0.50, and showed an 8.6% year-over-year revenue growth.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) CAO Nathan B. Theurer sold 686 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

First Solar Stock Performance

NASDAQ:FSLR traded up $19.38 during midday trading on Monday, reaching $219.33. The stock had a trading volume of 9,501,591 shares, compared to its average volume of 2,809,817. The firm has a fifty day simple moving average of $172.44 and a two-hundred day simple moving average of $154.07. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The stock has a market cap of $23.52 billion, a P/E ratio of 18.76, a P/E/G ratio of 0.39 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.25 EPS. On average, equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Institutional Investors Weigh In On First Solar

Several institutional investors and hedge funds have recently made changes to their positions in FSLR. Raymond James Financial Inc. acquired a new position in First Solar in the 4th quarter valued at about $4,933,000. Jump Financial LLC acquired a new position in First Solar in the 4th quarter valued at about $376,000. NewEdge Advisors LLC raised its stake in First Solar by 10.5% in the 4th quarter. NewEdge Advisors LLC now owns 9,733 shares of the solar cell manufacturer's stock valued at $1,715,000 after purchasing an additional 924 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in First Solar by 213.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 4,476 shares of the solar cell manufacturer's stock valued at $789,000 after purchasing an additional 3,049 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in First Solar by 23.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 99,177 shares of the solar cell manufacturer's stock valued at $17,469,000 after purchasing an additional 18,556 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FSLR shares. Guggenheim cut their price objective on shares of First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Morgan Stanley set a $223.00 price objective on shares of First Solar and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group set a $194.00 target price on shares of First Solar and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Finally, Truist Financial reaffirmed a "buy" rating and set a $200.00 target price (down previously from $245.00) on shares of First Solar in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average price target of $222.44.

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.

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