Peapack Gladstone Financial Corp Buys 2,022 Shares of First Solar, Inc. (NASDAQ:FSLR)

Peapack Gladstone Financial Corp increased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,575 shares of the solar cell manufacturer's stock after buying an additional 2,022 shares during the period. Peapack Gladstone Financial Corp's holdings in First Solar were worth $4,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of First Solar during the fourth quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar in the fourth quarter worth $53,000. CoreFirst Bank & Trust bought a new position in First Solar during the 4th quarter valued at $54,000. Finally, Financial Avengers Inc. bought a new stake in shares of First Solar in the 3rd quarter worth about $77,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FSLR shares. Barclays decreased their price target on First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research note on Friday. Redburn Atlantic began coverage on First Solar in a report on Monday, March 3rd. They issued a "neutral" rating for the company. BMO Capital Markets restated an "outperform" rating and set a $230.00 price objective (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Guggenheim lowered their target price on shares of First Solar from $304.00 to $253.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Royal Bank of Canada reduced their price target 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. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $256.08.

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First Solar Price Performance

Shares of FSLR stock traded up $3.74 on Friday, reaching $125.93. The company had a trading volume of 2,689,100 shares, compared to its average volume of 2,736,562. The business's 50-day moving average is $139.83 and its 200 day moving average is $175.63. The stock has a market capitalization of $13.48 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results 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 company 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%. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity

In other First Solar news, insider Georges Antoun sold 229 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares of the company's stock, valued at approximately $7,066,815. This represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares of the company's stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company's stock.

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.