9,921 Shares in First Solar, Inc. (NASDAQ:FSLR) Purchased by Natural Investments LLC

Natural Investments LLC purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,921 shares of the solar cell manufacturer's stock, valued at approximately $1,748,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Lindbrook Capital LLC lifted its stake in First Solar by 182.6% in the third quarter. Lindbrook Capital LLC now owns 1,232 shares of the solar cell manufacturer's stock worth $307,000 after acquiring an additional 796 shares during the period. Atria Investments Inc raised its holdings in First Solar by 24.7% in the 3rd quarter. Atria Investments Inc now owns 2,476 shares of the solar cell manufacturer's stock worth $618,000 after purchasing an additional 490 shares in the last quarter. Sigma Planning Corp lifted its position in shares of First Solar by 4.8% in the 3rd quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer's stock worth $362,000 after purchasing an additional 67 shares during the period. Kennebec Savings Bank purchased a new position in shares of First Solar during the third quarter valued at about $29,000. Finally, Apollon Wealth Management LLC raised its stake in First Solar by 4.4% in the third quarter. Apollon Wealth Management LLC now owns 3,657 shares of the solar cell manufacturer's stock worth $912,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

FSLR has been the subject of several research reports. Citigroup decreased their target price on First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on shares of First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Truist Financial reissued a "buy" rating and set a $285.00 price target (down 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 note on Thursday, February 27th. Finally, Bank of America dropped their price target on First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, First Solar has an average rating of "Moderate Buy" and an average target price of $262.08.

Remove Ads

First Solar Stock Performance

First Solar stock traded down $3.28 during mid-day trading on Wednesday, reaching $135.82. 1,446,205 shares of the stock traded hands, compared to its average volume of 2,734,081. The stock has a market capitalization of $14.54 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business's 50-day moving average is $165.43 and its 200-day moving average is $193.16. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred 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 directly owns 3,549 shares of the company's stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 1,272 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares of the company's stock, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,739 shares of company stock valued at $4,289,403. 0.58% of the stock is owned by company insiders.

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.