Stance Capital LLC Grows Stake in First Solar, Inc. $FSLR

Stance Capital LLC lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 10,575.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,124 shares of the solar cell manufacturer’s stock after acquiring an additional 5,076 shares during the period. Stance Capital LLC’s holdings in First Solar were worth $1,339,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new position in First Solar in the fourth quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of First Solar during the 4th quarter worth approximately $26,000. Reflection Asset Management purchased a new stake in shares of First Solar during the 4th quarter worth approximately $26,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar in the 2nd quarter valued at $26,000. Finally, Larson Financial Group LLC boosted its holdings in shares of First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $257.70 on Friday. First Solar, Inc. has a one year low of $139.26 and a one year high of $320.95. The stock has a market capitalization of $27.69 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.57 and a beta of 1.71. The company has a 50-day simple moving average of $238.53 and a 200-day simple moving average of $233.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business’s revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company posted $1.95 earnings per share. On average, analysts predict that First Solar, Inc. will post 17.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. TD Cowen cut their target price on First Solar from $320.00 to $253.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. The Goldman Sachs Group upped their target price on First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Morgan Stanley cut their price target on First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Finally, Wall Street Zen cut First Solar from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $249.78.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 4,815 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $247.43, for a total value of $1,191,375.45. Following the transaction, the chief executive officer owned 89,033 shares of the company’s stock, valued at approximately $22,029,435.19. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the sale, the insider owned 23,792 shares of the company’s stock, valued at $6,557,075.20. This trade represents a 30.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,466 shares of company stock worth $8,014,105 in the last ninety days. Company insiders own 0.39% of the company’s stock.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.