Bryce Point Capital LLC Purchases New Holdings in First Solar, Inc. (NASDAQ:FSLR)

Bryce Point Capital LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,050 shares of the solar cell manufacturer's stock, valued at approximately $538,000.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares during the period. Crews Bank & Trust acquired a new position in First Solar during the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in shares of First Solar during the fourth quarter worth approximately $53,000. CoreFirst Bank & Trust purchased a new stake in First Solar during the 4th quarter worth about $54,000. Finally, Financial Avengers Inc. acquired a new stake in First Solar during the third quarter worth approximately $77,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 7.7 %

Shares of FSLR stock traded up $9.25 during trading hours on Wednesday, hitting $129.63. 6,014,845 shares of the company were exchanged, compared to its average volume of 2,722,048. The business's 50-day simple moving average is $141.53 and its two-hundred day simple moving average is $177.84. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FSLR. Truist Financial reiterated a "buy" rating and issued a $245.00 target price (down from $285.00) on shares of First Solar in a research note on Wednesday, April 2nd. Redburn Atlantic initiated coverage on shares of First Solar in a research note on Monday, March 3rd. They set a "neutral" rating for the company. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Piper Sandler lowered their price objective on First Solar from $250.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, Morgan Stanley cut their price target on shares of First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $257.42.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 229 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43 % 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. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares of the company's stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 in the last 90 days. 0.58% of the stock is currently owned by company insiders.

First Solar Company Profile

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.