Rep. Robert Bresnahan, Jr. Sells Off First Solar, Inc. (NASDAQ:FSLR) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of First Solar, Inc. (NASDAQ:FSLR). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in First Solar stock on February 25th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

First Solar Stock Up 0.6 %

FSLR stock traded up $0.72 during mid-day trading on Friday, hitting $127.32. 3,085,547 shares of the company were exchanged, compared to its average volume of 2,643,007. The firm has a market cap of $13.63 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 1-year low of $124.32 and a 1-year high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm’s 50 day simple moving average is $150.28 and its 200 day simple moving average is $185.33.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Larson Financial Group LLC increased its stake in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new stake in First Solar during the fourth quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. bought a new stake in First Solar in the fourth quarter worth approximately $53,000. Finally, Banque Transatlantique SA acquired a new position in First Solar in the fourth quarter valued at approximately $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FSLR shares. Truist Financial reaffirmed a “buy” rating and set a $285.00 price target (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Guggenheim decreased their target price on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company lowered their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Bank of America dropped their target price on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $262.08.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares in the company, valued at $14,965,287.50. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the sale, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. Corporate insiders own 0.58% of the company’s stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.