6,125 Shares in First Solar, Inc. (NASDAQ:FSLR) Purchased by Ninepoint Partners LP

Ninepoint Partners LP acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,125 shares of the solar cell manufacturer’s stock, valued at approximately $1,055,000.

Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Solar by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock worth $94,419,000 after buying an additional 20,946 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock worth $68,852,000 after buying an additional 333,496 shares in the last quarter. Sora Investors LLC grew its stake in First Solar by 63.6% in the third quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock valued at $14,543,000 after purchasing an additional 35,000 shares in the last quarter. Vanguard Group Inc. grew its stake in First Solar by 2.4% in the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after purchasing an additional 279,424 shares in the last quarter. Finally, Bull Oak Capital LLC grew its stake in First Solar by 304,592.2% in the fourth quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after purchasing an additional 155,342 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FSLR. Bank of America raised their price target on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Susquehanna restated a “positive” rating and issued a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Roth Mkm restated a “buy” rating and issued a $230.00 price target on shares of First Solar in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Finally, Oppenheimer restated an “outperform” rating and issued a $269.00 price target on shares of First Solar in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $229.68.

First Solar Price Performance

NASDAQ:FSLR traded up $3.68 during mid-day trading on Friday, reaching $177.97. The stock had a trading volume of 1,288,322 shares, compared to its average volume of 2,066,546. The stock has a 50-day simple moving average of $160.86 and a two-hundred day simple moving average of $156.05. The stock has a market capitalization of $19.05 billion, a PE ratio of 22.72, a P/E/G ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. On average, equities analysts anticipate that First Solar, Inc. will post 13.55 earnings per share for the current year.

Insiders Place Their Bets

In other First Solar news, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $175.00, for a total transaction of $338,975.00. Following the sale, the chief technology officer now owns 12,536 shares of the company’s stock, valued at $2,193,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total transaction of $338,975.00. Following the completion of the sale, the chief technology officer now directly owns 12,536 shares in the company, valued at approximately $2,193,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is currently owned by insiders.

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.