First Solar (NASDAQ:FSLR) CFO Sells $2,820,776.82 in Stock

First Solar, Inc. (NASDAQ:FSLR) CFO Alexander Bradley sold 14,106 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total value of $2,820,776.82. Following the completion of the transaction, the chief financial officer directly owned 30,000 shares in the company, valued at $5,999,100. This trade represents a 31.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

First Solar Stock Up 0.5%

Shares of First Solar stock traded up $0.94 on Tuesday, reaching $200.42. The company’s stock had a trading volume of 1,358,366 shares, compared to its average volume of 2,623,352. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $285.99. The firm’s fifty day simple moving average is $224.42 and its two-hundred day simple moving average is $236.51. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.35 and a beta of 1.65.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the company earned $3.65 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently modified their holdings of FSLR. Joule Financial LLC bought a new position in First Solar during the 3rd quarter valued at about $950,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of First Solar by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock valued at $17,015,000 after buying an additional 13,904 shares during the period. Belpointe Asset Management LLC bought a new position in shares of First Solar during the third quarter valued at approximately $1,193,000. State Street Corp grew its stake in shares of First Solar by 2.1% during the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after buying an additional 111,927 shares during the last quarter. Finally, Greenup Street Wealth Management LLC purchased a new stake in shares of First Solar in the third quarter worth approximately $2,147,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on FSLR shares. Morgan Stanley decreased their price objective on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Barclays lowered their price target on First Solar from $279.00 to $228.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. The Goldman Sachs Group dropped their price target on First Solar from $316.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Argus cut their price objective on First Solar from $300.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Mizuho lowered their target price on First Solar from $326.00 to $271.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $248.17.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.