First Solar (NASDAQ:FSLR) CTO Markus Gloeckler Sells 800 Shares of Company Stock

First Solar, Inc. (NASDAQ:FSLR) CTO Markus Gloeckler sold 800 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total value of $139,200.00. Following the sale, the chief technology officer owned 5,042 shares in the company, valued at approximately $877,308. This represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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, September 1st, Markus Gloeckler sold 800 shares of First Solar stock. The stock was sold at an average price of $200.00, for a total value of $160,000.00.
• On Tuesday, August 4th, Markus Gloeckler sold 829 shares of First Solar stock. The shares were sold at an average price of $248.00, for a total value of $205,592.00.
• On Monday, August 3rd, Markus Gloeckler sold 3,425 shares of First Solar stock. The shares were sold at an average price of $218.95, for a total value of $749,903.75.

First Solar Stock Up 1.5%

FSLR traded up $2.50 during trading on Friday, reaching $174.61. 1,898,076 shares of the company were exchanged, compared to its average volume of 2,384,803. The company’s 50-day moving average is $208.11 and its two-hundred day moving average is $220.36. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 0.47 and a beta of 1.80. First Solar, Inc. has a 12-month low of $168.60 and a 12-month high of $320.95.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm earned $3.18 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts forecast that First Solar, Inc. will post 17.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of First Solar from $300.00 to $313.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Truist Financial restated a “hold” rating and issued a $229.00 price objective (down from $249.00) on shares of First Solar in a research report on Friday, July 31st. Sanford C. Bernstein dropped their price objective on shares of First Solar from $217.00 to $197.00 and set an “underperform” rating for the company in a report on Friday, July 31st. Raymond James Financial initiated coverage on First Solar in a report on Thursday, August 27th. They issued a “market perform” rating for the company. Finally, Weiss Ratings lowered shares of First Solar from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $266.23.

Key First Solar News

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Patent lawsuit could protect technology and pricing: First Solar sued JA Solar and American Panel Solutions, reportedly a Corning subsidiary, alleging infringement of its U.S. patent covering manufacturing methods for TOPCon solar cells. Successful enforcement could help protect First Solar’s intellectual property and competitive position. First Solar Files Patent Infringement Lawsuit Against JA Solar and American Panel Solutions
• Positive Sentiment: Potential earnings support: First Solar has a history of exceeding earnings expectations. Analysts are watching the upcoming report for evidence that strong execution and the company’s relatively low valuation can offset industry headwinds. Will First Solar Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Higher put-option activity signals caution: Traders purchased 31,358 put options, about 21% above average volume. This indicates increased hedging or bearish speculation ahead of earnings, but it does not necessarily represent a change in the company’s fundamentals.
• Negative Sentiment: Inventory and policy pressures remain significant: Elevated U.S. solar-panel inventories, slower utility-scale project starts, tight pricing, and a new 15% tariff on polysilicon derivatives are complicating supply-chain planning and could pressure margins or near-term demand. How Investors Are Reacting to First Solar Inventory Glut, New Tariffs and Slower Project Starts
• Negative Sentiment: Analyst target reduction adds pressure: Piper Sandler cut its price target for First Solar, reinforcing concerns about near-term industry conditions and the stock’s substantial decline from its 12-month high. First Solar Stock Price Target Cut by Piper Sandler

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of First Solar in the 2nd quarter valued at approximately $3,310,298,000. Hill City Capital LP bought a new stake in shares of First Solar in the 2nd quarter worth approximately $620,133,555. Deutsche Bank AG bought a new position in First Solar during the 2nd quarter valued at approximately $212,626,000. Polar Capital Holdings Plc purchased a new stake in shares of First Solar in the fourth quarter worth $200,109,000. Finally, Bank of America Corp DE purchased a new position in shares of First Solar in the 2nd quarter worth about $171,043,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About First Solar

First Solar, Inc is a solar technology and manufacturing company that designs and produces photovoltaic (PV) solar modules for utility-scale power projects. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe), which the company says can provide advantages in energy yield, temperature performance and lifecycle sustainability.

The company’s product portfolio includes its Series 6 and Series 7 thin-film solar modules, along with related services such as technical support, module recycling and end-of-life collection.