Insider Selling: First Solar, Inc. (NASDAQ:FSLR) CTO Sells 380 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the sale, the chief technology officer now directly owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

First Solar Stock Performance

Shares of FSLR opened at $129.34 on Thursday. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77. The company’s 50 day simple moving average is $158.67 and its 200 day simple moving average is $189.31. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FSLR shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird cut their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Citigroup decreased their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

Institutional Trading of First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the third quarter worth approximately $25,000. Larson Financial Group LLC boosted its holdings in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares during the period. Crews Bank & Trust acquired a new stake in shares of First Solar during the 4th quarter worth $53,000. Finally, Hudson Edge Investment Partners Inc. purchased a new position in shares of First Solar in the 4th quarter worth $53,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About First Solar

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.