First Solar, Inc. (NASDAQ:FSLR) Shares Bought by SCP Investment LP

SCP Investment LP boosted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 249.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,588 shares of the solar cell manufacturer's stock after purchasing an additional 9,700 shares during the quarter. First Solar comprises about 1.8% of SCP Investment LP's investment portfolio, making the stock its 9th largest holding. SCP Investment LP's holdings in First Solar were worth $2,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FSLR. Whalen Wealth Management Inc. grew its holdings in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock valued at $856,000 after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of First Solar by 665.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after purchasing an additional 34,074 shares during the period. Stifel Financial Corp increased its stake in First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock worth $5,350,000 after purchasing an additional 5,780 shares in the last quarter. Paragon Capital Management Inc. bought a new stake in First Solar during the 4th quarter worth approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock worth $104,910,000 after buying an additional 49,074 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

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Insider Buying and Selling at First Solar

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

Wall Street Analyst Weigh In

FSLR has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley lowered their target price on First Solar from $297.00 to $238.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Roth Mkm restated a "buy" rating and issued a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Citigroup decreased their price objective on First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Seaport Res Ptn raised First Solar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.08.

First Solar Stock Performance

Shares of FSLR stock traded up $1.25 during trading on Tuesday, reaching $127.68. 2,777,491 shares of the company's stock were exchanged, compared to its average volume of 2,646,851. The firm's fifty day moving average price is $148.95 and its 200-day moving average price is $184.01. First Solar, Inc. has a twelve month low of $120.60 and a twelve month high of $306.77. The stock has a market capitalization of $13.67 billion, a PE ratio of 11.00, a PEG ratio of 0.19 and a beta of 1.52. 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 issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

First Solar 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.