Quest Capital Management Inc. ADV decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 98.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,122 shares of the solar cell manufacturer’s stock after selling 233,778 shares during the period. Quest Capital Management Inc. ADV’s holdings in First Solar were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FSLR. BlackRock Inc. increased its stake in First Solar by 5.6% in the first quarter. BlackRock Inc. now owns 7,998,996 shares of the solar cell manufacturer’s stock valued at $422,666,000 after purchasing an additional 422,290 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in First Solar by 986.3% in the first quarter. Artisan Partners Limited Partnership now owns 1,637,421 shares of the solar cell manufacturer’s stock valued at $86,521,000 after purchasing an additional 1,486,686 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in First Solar by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,526,286 shares of the solar cell manufacturer’s stock valued at $64,800,000 after purchasing an additional 42,066 shares in the last quarter. Electron Capital Partners LLC increased its stake in First Solar by 60.2% in the first quarter. Electron Capital Partners LLC now owns 809,163 shares of the solar cell manufacturer’s stock valued at $42,756,000 after purchasing an additional 303,982 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in First Solar by 26.4% in the first quarter. Pictet Asset Management Ltd. now owns 713,838 shares of the solar cell manufacturer’s stock valued at $37,719,000 after purchasing an additional 149,044 shares in the last quarter. Institutional investors and hedge funds own 63.54% of the company’s stock.

In other First Solar news, CEO Mark R. Widmar sold 34,964 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $61.43, for a total value of $2,147,838.52. Following the completion of the sale, the chief executive officer now directly owns 145,285 shares of the company’s stock, valued at approximately $8,924,857.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Craig Kennedy sold 1,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $62.55, for a total transaction of $112,590.00. Following the completion of the sale, the director now directly owns 25,805 shares of the company’s stock, valued at $1,614,102.75. The disclosure for this sale can be found here. Insiders sold a total of 93,155 shares of company stock valued at $5,765,855 over the last ninety days. 0.72% of the stock is currently owned by insiders.

Shares of NASDAQ:FSLR traded up $0.70 during midday trading on Wednesday, hitting $63.78. 204,654 shares of the company’s stock were exchanged, compared to its average volume of 1,383,969. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.05 and a quick ratio of 3.35. The stock has a 50 day moving average price of $64.91 and a 200-day moving average price of $58.90. The company has a market cap of $6.76 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 1.12 and a beta of 1.30. First Solar, Inc. has a 12 month low of $36.51 and a 12 month high of $69.24.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, August 1st. The solar cell manufacturer reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.20). The business had revenue of $585.00 million for the quarter, compared to the consensus estimate of $656.80 million. First Solar had a return on equity of 0.46% and a net margin of 0.95%. The company’s revenue was up 89.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.46) earnings per share. On average, analysts anticipate that First Solar, Inc. will post 2.37 EPS for the current fiscal year.

Several research firms have weighed in on FSLR. UBS Group lifted their price target on shares of First Solar to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of First Solar from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Roth Capital set a $75.00 price target on shares of First Solar and gave the company a “buy” rating in a research note on Thursday, June 13th. ValuEngine downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. First Solar presently has an average rating of “Buy” and a consensus target price of $70.11.

First Solar Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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