Tobam trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) by 16.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,588 shares of the solar cell manufacturer’s stock after selling 2,656 shares during the quarter. Tobam’s holdings in First Solar were worth $3,550,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC bought a new position in shares of First Solar in the fourth quarter valued at $25,000. Commonwealth Retirement Investments LLC bought a new stake in shares of First Solar during the 4th quarter worth $26,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar in the 2nd quarter worth $26,000. Larson Financial Group LLC grew its holdings in shares of First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of First Solar during the fourth quarter worth $30,000. Institutional investors and hedge funds own 92.08% of the company’s stock.
Analyst Upgrades and Downgrades
FSLR has been the subject of several analyst reports. Freedom Capital raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. HSBC lifted their price target on First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Morgan Stanley reduced their price objective on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Royal Bank Of Canada decreased their target price on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings downgraded shares of First Solar from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.78.
Insider Activity
In other First Solar news, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the completion of the sale, the insider directly owned 4,967 shares in the company, valued at $1,241,750. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares of the company’s stock, valued at $6,557,075.20. This represents a 30.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 32,466 shares of company stock valued at $8,014,105. 0.39% of the stock is currently owned by company insiders.
First Solar Price Performance
First Solar stock opened at $257.70 on Friday. First Solar, Inc. has a twelve month low of $139.26 and a twelve month high of $320.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The firm has a market cap of $27.69 billion, a PE ratio of 16.65, a P/E/G ratio of 0.57 and a beta of 1.71. The firm’s 50 day moving average price is $238.53 and its two-hundred day moving average price is $233.45.
First Solar (NASDAQ:FSLR – Get Free Report) last issued its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $1.95 EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, research analysts predict that First Solar, Inc. will post 17.61 EPS for the current fiscal year.
First Solar Profile
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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