First Solar, Inc. (NASDAQ:FSLR) CTO Sells $1,481,812.85 in Stock

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the sale, the chief technology officer now owns 8,037 shares in the company, valued at $1,246,136.85. This represents a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, March 17th, Markus Gloeckler sold 380 shares of First Solar stock. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00.

First Solar Stock Up 6.5%

Shares of FSLR traded up $9.72 during mid-day trading on Tuesday, hitting $159.37. 4,473,397 shares of the company's stock were exchanged, compared to its average volume of 3,059,811. The company has a market cap of $17.09 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock's 50-day moving average is $141.14 and its 200-day moving average is $160.01.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Mizuho raised their price target on shares of First Solar from $251.00 to $275.00 and gave the company an "outperform" rating in a report on Monday. Oppenheimer cut shares of First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Bank of America decreased their price objective on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group restated a "buy" rating and set a $255.00 price objective on shares of First Solar in a research note on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.94.

Institutional Trading of First Solar

Several hedge funds have recently made changes to their positions in FSLR. Garde Capital Inc. purchased a new position in First Solar in the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in First Solar in the 1st quarter valued at $25,000. Larson Financial Group LLC lifted its holdings in First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares during the period. Colonial Trust Advisors acquired a new stake in First Solar in the first quarter valued at $32,000. Finally, Abound Financial LLC acquired a new stake in First Solar in the first quarter valued at $45,000. Institutional investors and hedge funds own 92.08% of the company's stock.

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.