Two Seas Capital LP cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) by 36.9% during the third quarter, HoldingsChannel.com reports. The firm owned 377,984 shares of the solar cell manufacturer’s stock after selling 221,500 shares during the period. First Solar accounts for 0.8% of Two Seas Capital LP’s portfolio, making the stock its 15th biggest position. Two Seas Capital LP’s holdings in First Solar were worth $66,208,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Fiduciary Financial Group LLC grew its stake in First Solar by 2.3% during the 2nd quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer’s stock worth $478,000 after buying an additional 45 shares during the last quarter. Burford Brothers Inc. boosted its holdings in First Solar by 0.3% in the first quarter. Burford Brothers Inc. now owns 19,131 shares of the solar cell manufacturer’s stock worth $3,774,000 after acquiring an additional 51 shares in the last quarter. Hilltop Holdings Inc. grew its stake in shares of First Solar by 3.5% during the first quarter. Hilltop Holdings Inc. now owns 1,608 shares of the solar cell manufacturer’s stock worth $317,000 after acquiring an additional 54 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of First Solar by 0.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,102 shares of the solar cell manufacturer’s stock valued at $3,973,000 after purchasing an additional 55 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its position in shares of First Solar by 2.5% in the 4th quarter. KCM Investment Advisors LLC now owns 2,341 shares of the solar cell manufacturer’s stock valued at $612,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.
First Solar Trading Up 2.1%
NASDAQ FSLR traded up $3.64 on Tuesday, hitting $179.80. 1,766,282 shares of the company’s stock traded hands, compared to its average volume of 2,377,186. First Solar, Inc. has a 1-year low of $168.60 and a 1-year high of $320.95. The firm’s 50-day moving average price is $206.96 and its two-hundred day moving average price is $220.01. The firm has a market capitalization of $19.32 billion, a PE ratio of 11.09, a P/E/G ratio of 0.47 and a beta of 1.80.
Insider Buying and Selling at First Solar
In other First Solar news, CTO Markus Gloeckler sold 800 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $174.00, for a total transaction of $139,200.00. Following the sale, the chief technology officer directly owned 5,042 shares of the company’s stock, valued at approximately $877,308. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Koralewski sold 7,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $221.51, for a total value of $1,550,570.00. Following the completion of the transaction, the insider directly owned 7,642 shares of the company’s stock, valued at approximately $1,692,779.42. This trade represents a 47.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,681 shares of company stock valued at $3,756,286 in the last three months. Company insiders own 0.39% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on FSLR shares. Sanford C. Bernstein dropped their target price on shares of First Solar from $217.00 to $197.00 and set an “underperform” rating on the stock in a research report on Friday, July 31st. Susquehanna raised their price target on shares of First Solar from $250.00 to $270.00 and gave the stock a “positive” rating in a report on Friday, July 10th. Wells Fargo & Company lifted their price objective on shares of First Solar from $300.00 to $313.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. HSBC raised shares of First Solar from a “hold” rating to a “buy” rating in a report on Friday, August 7th. Finally, HC Wainwright started coverage on First Solar in a research note on Thursday, August 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $266.23.
Read Our Latest Report on First Solar
First Solar Profile
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.
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