First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Covalis Capital LLP

Covalis Capital LLP raised its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 443.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,128 shares of the solar cell manufacturer's stock after purchasing an additional 102,904 shares during the quarter. First Solar accounts for approximately 3.2% of Covalis Capital LLP's holdings, making the stock its 8th largest holding. Covalis Capital LLP owned 0.12% of First Solar worth $22,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FSLR. Virtu Financial LLC grew its stake in shares of First Solar by 38.5% in the third quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer's stock valued at $2,006,000 after buying an additional 2,235 shares in the last quarter. Morse Asset Management Inc lifted its position in shares of First Solar by 10.7% in the third quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer's stock valued at $3,105,000 after buying an additional 1,199 shares during the last quarter. Blankinship & Foster LLC bought a new position in shares of First Solar during the 3rd quarter worth approximately $935,000. Peapack Gladstone Financial Corp increased its holdings in shares of First Solar by 33.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer's stock worth $6,125,000 after acquiring an additional 6,135 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in First Solar by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer's stock valued at $32,835,000 after acquiring an additional 12,439 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several research reports. Piper Sandler decreased their price objective on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research report on Thursday, February 27th. Wells Fargo & Company decreased their target price on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada dropped their price target on First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, Guggenheim lowered their price objective on First Solar from $304.00 to $253.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Four research 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 company's stock. According to data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average price target of $250.58.

First Solar Trading Up 4.5 %

Shares of NASDAQ:FSLR traded up $5.89 during mid-day trading on Thursday, reaching $136.99. 1,506,828 shares of the company's stock were exchanged, compared to its average volume of 3,028,723. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The business's fifty day moving average price is $134.34 and its 200-day moving average price is $170.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The stock was 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 owns 17,594 shares of the company's stock, valued at approximately $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 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.48% of the company's stock.

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.