First Solar, Inc. (NASDAQ:FSLR) CTO Markus Gloeckler Sells 980 Shares

First Solar, Inc. (NASDAQ:FSLRGet Rating) CTO Markus Gloeckler sold 980 shares of First Solar stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $73.14, for a total transaction of $71,677.20. Following the transaction, the chief technology officer now owns 2,656 shares of the company’s stock, valued at approximately $194,259.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Tuesday, March 15th, Markus Gloeckler sold 1,301 shares of First Solar stock. The stock was sold at an average price of $71.46, for a total value of $92,969.46.
  • On Tuesday, March 8th, Markus Gloeckler sold 2,780 shares of First Solar stock. The stock was sold at an average price of $80.00, for a total value of $222,400.00.

FSLR stock traded down $2.94 during midday trading on Monday, reaching $71.99. 3,518,285 shares of the company’s stock traded hands, compared to its average volume of 1,620,912. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.07 and a quick ratio of 2.93. First Solar, Inc. has a fifty-two week low of $59.60 and a fifty-two week high of $123.13. The business has a 50-day moving average price of $73.55 and a two-hundred day moving average price of $79.72. The company has a market capitalization of $7.67 billion, a P/E ratio of 35.82, a PEG ratio of 17.11 and a beta of 1.37.

First Solar (NASDAQ:FSLRGet Rating) last issued its earnings results on Thursday, April 28th. The solar cell manufacturer reported ($0.41) EPS for the quarter, meeting analysts’ consensus estimates of ($0.41). First Solar had a net margin of 8.68% and a return on equity of 3.68%. The business had revenue of $367.00 million for the quarter, compared to the consensus estimate of $588.73 million. During the same quarter last year, the firm posted $1.96 EPS. The business’s revenue for the quarter was down 54.3% compared to the same quarter last year. As a group, research analysts forecast that First Solar, Inc. will post 0.33 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of FSLR. KBC Group NV raised its holdings in shares of First Solar by 5.7% during the 4th quarter. KBC Group NV now owns 24,862 shares of the solar cell manufacturer’s stock valued at $2,167,000 after buying an additional 1,331 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of First Solar during the fourth quarter valued at approximately $26,000. Franklin Resources Inc. lifted its position in shares of First Solar by 8.1% during the third quarter. Franklin Resources Inc. now owns 345,319 shares of the solar cell manufacturer’s stock worth $32,964,000 after purchasing an additional 26,000 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of First Solar by 3.8% in the fourth quarter. HighTower Advisors LLC now owns 86,586 shares of the solar cell manufacturer’s stock valued at $7,598,000 after purchasing an additional 3,185 shares during the period. Finally, Pinebridge Investments L.P. grew its holdings in First Solar by 5.9% during the 4th quarter. Pinebridge Investments L.P. now owns 246,518 shares of the solar cell manufacturer’s stock valued at $21,487,000 after purchasing an additional 13,814 shares in the last quarter. Institutional investors own 75.42% of the company’s stock.

FSLR has been the topic of a number of analyst reports. Wells Fargo & Company decreased their price objective on First Solar from $115.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 8th. Bank of America downgraded shares of First Solar from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $76.50 to $65.50 in a report on Tuesday, April 5th. The Goldman Sachs Group reduced their price objective on shares of First Solar from $67.00 to $57.00 and set a “sell” rating on the stock in a research note on Thursday, March 3rd. Piper Sandler raised shares of First Solar from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $80.00 to $90.00 in a research note on Thursday, May 12th. Finally, Roth Capital increased their price target on First Solar from $78.00 to $85.00 in a research note on Friday, April 29th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $87.83.

About First Solar (Get Rating)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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