Alexander Bradley Sells 590 Shares of First Solar (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) CFO Alexander Bradley sold 590 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $200.80, for a total transaction of $118,472.00. Following the completion of the transaction, the chief financial officer owned 44,106 shares of the company’s stock, valued at $8,856,484.80. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

First Solar Price Performance

First Solar stock traded up $0.94 during midday trading on Tuesday, reaching $200.42. 1,358,366 shares of the stock were exchanged, compared to its average volume of 2,623,352. The company’s fifty day moving average is $224.42 and its 200-day moving average is $236.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The firm has a market cap of $21.51 billion, a PE ratio of 14.10, a PEG ratio of 0.35 and a beta of 1.65. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $285.99.

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

Analyst Upgrades and Downgrades

FSLR has been the subject of several recent analyst reports. Susquehanna reduced their target price on First Solar from $292.00 to $280.00 and set a “positive” rating for the company in a research report on Wednesday, February 25th. Raymond James Financial began coverage on First Solar in a report on Monday, January 12th. They issued a “market perform” rating on the stock. Mizuho dropped their price target on First Solar from $326.00 to $271.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Wall Street Zen lowered First Solar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Royal Bank Of Canada decreased their price objective on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.17.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently added to or reduced their stakes in the company. Joule Financial LLC purchased a new position in shares of First Solar during the 3rd quarter valued at about $950,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in First Solar by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock worth $17,015,000 after buying an additional 13,904 shares in the last quarter. Belpointe Asset Management LLC bought a new position in First Solar during the third quarter valued at approximately $1,193,000. State Street Corp grew its position in 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 acquiring an additional 111,927 shares during the last quarter. Finally, Greenup Street Wealth Management LLC purchased a new position in shares of First Solar during the third quarter worth approximately $2,147,000. Institutional investors own 92.08% of the company’s stock.

About First Solar

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.