First Solar, Inc. (NASDAQ:FSLR) CEO Sells $1,027,421.44 in Stock

First Solar, Inc. (NASDAQ:FSLRGet Rating) CEO Mark R. Widmar sold 13,648 shares of the business’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $75.28, for a total transaction of $1,027,421.44. Following the completion of the sale, the chief executive officer now directly owns 114,100 shares in the company, valued at $8,589,448. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of FSLR stock opened at $67.58 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.93 and a current ratio of 4.07. The firm’s 50-day moving average is $76.82 and its 200-day moving average is $85.68. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 15.78 and a beta of 1.38. First Solar, Inc. has a 52-week low of $61.24 and a 52-week high of $123.13.

First Solar (NASDAQ:FSLRGet Rating) last issued its earnings results on Thursday, April 28th. The solar cell manufacturer reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.16). First Solar had a net margin of 8.68% and a return on equity of 3.68%. The firm had revenue of $367.00 million during the quarter, compared to the consensus estimate of $588.73 million. During the same period in the previous year, the company posted $1.96 earnings per share. The firm’s revenue for the quarter was down 54.3% compared to the same quarter last year. Sell-side analysts predict that First Solar, Inc. will post 0.35 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. acquired a new position in First Solar in the 4th quarter valued at about $26,000. Sageworth Trust Co of South Dakota acquired a new position in First Solar in the 4th quarter valued at about $29,000. Ellevest Inc. grew its stake in First Solar by 53.3% in the 1st quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 130 shares during the last quarter. Private Ocean LLC acquired a new position in First Solar in the 3rd quarter valued at about $38,000. Finally, IndexIQ Advisors LLC acquired a new position in First Solar in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 75.42% of the company’s stock.

Several research firms recently commented on FSLR. Piper Sandler boosted their price objective on shares of First Solar from $63.00 to $80.00 in a research report on Thursday, April 21st. Wells Fargo & Company cut their price objective on shares of First Solar from $115.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 8th. Wolfe Research cut their price objective on shares of First Solar from $75.00 to $65.00 and set a “peer perform” rating on the stock in a research report on Wednesday, March 2nd. TheStreet cut shares of First Solar from a “b-” rating to a “c+” rating in a research report on Wednesday, February 16th. Finally, Susquehanna cut their price target on shares of First Solar from $140.00 to $120.00 and set a “positive” rating on the stock in a research report on Wednesday, March 2nd. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.33.

First Solar Company Profile (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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