Key Points
- First Solar CTO Markus Gloeckler sold 800 shares at an average price of $200, generating $160,000; the Rule 10b5-1 transaction reduced his ownership by 12.04% to 5,842 shares.
- First Solar reported quarterly EPS of $3.92, beating analyst expectations of $2.90, while revenue reached $1.06 billion but declined 3.4% year over year.
- Analysts maintain a “Moderate Buy” consensus with a $266.27 target price, although ratings range from “Strong Buy” to “Sell”; institutional investors own 92.08% of the company.
First Solar, Inc. (NASDAQ:FSLR - Get Free Report) CTO Markus Gloeckler sold 800 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $160,000.00. Following the completion of the transaction, the chief technology officer owned 5,842 shares in the company, valued at approximately $1,168,400. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Markus Gloeckler also recently made the following trade(s):
- On Tuesday, August 4th, Markus Gloeckler sold 829 shares of First Solar stock. The stock was sold at an average price of $248.00, for a total transaction of $205,592.00.
- On Monday, August 3rd, Markus Gloeckler sold 3,425 shares of First Solar stock. The stock was sold at an average price of $218.95, for a total transaction of $749,903.75.
First Solar Trading Up 1.5%
First Solar stock opened at $202.60 on Thursday. First Solar, Inc. has a 12 month low of $182.99 and a 12 month high of $320.95. The business's 50 day simple moving average is $220.28 and its 200 day simple moving average is $222.90. The company has a market cap of $21.77 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.53 and a beta of 1.74.
First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.90 by $1.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the business posted $3.18 earnings per share. As a group, equities research analysts forecast that First Solar, Inc. will post 17.77 earnings per share for the current fiscal year.
Analyst Ratings Changes
FSLR has been the topic of a number of research analyst reports. Evercore reissued a "positive" rating and issued a $218.00 target price on shares of First Solar in a research note on Monday, August 17th. BMO Capital Markets cut First Solar from a "hold" rating to a "market perform" rating in a report on Thursday, August 27th. Morgan Stanley boosted their target price on First Solar from $245.00 to $323.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 18th. Argus reaffirmed a "buy" rating and issued a $275.00 target price on shares of First Solar in a research note on Wednesday, August 26th. Finally, UBS Group increased their price target on shares of First Solar from $290.00 to $330.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $266.27.
Get Our Latest Analysis on FSLR
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Commonwealth Retirement Investments LLC purchased a new stake in First Solar during the 4th quarter valued at about $26,000. Reflection Asset Management purchased a new position in First Solar in the 4th quarter worth approximately $26,000. Strategic Wealth Investment Group LLC purchased a new position in shares of First Solar in the second quarter worth $26,000. Larson Financial Group LLC raised its holdings in First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock valued at $27,000 after buying an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new stake in First Solar during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 92.08% of the company's stock.
First Solar Company Profile
(
Get Free Report)
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.
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