Nykredit A S Invests $14.78 Million in First Solar, Inc. $FSLR

Nykredit A S purchased a new position in First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, HoldingsChannel reports. The firm purchased 62,616 shares of the solar cell manufacturer’s stock, valued at approximately $14,775,000.

A number of other institutional investors have also recently added to or reduced their stakes in FSLR. BlackRock Inc. acquired a new stake in First Solar in the second quarter worth $3,310,298,000. Hill City Capital LP acquired a new position in shares of First Solar during the second quarter worth approximately $620,133,555. Norges Bank acquired a new position in First Solar during the 4th quarter worth $392,040,000. Deutsche Bank AG bought a new position in shares of First Solar in the second quarter worth $212,626,000. Finally, Viking Global Investors LP increased its holdings in shares of First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after purchasing an additional 854,919 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FSLR shares. Mizuho set a $324.00 price objective on shares of First Solar in a report on Thursday, August 13th. Raymond James Financial began coverage on shares of First Solar in a research report on Thursday, August 27th. They set a “market perform” rating on the stock. Truist Financial reiterated a “hold” rating and issued a $229.00 price objective (down from $249.00) on shares of First Solar in a report on Friday, July 31st. Wells Fargo & Company raised their price objective on shares of First Solar from $300.00 to $313.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group set a $196.00 target price on First Solar in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $266.27.

First Solar Stock Down 1.4%

NASDAQ:FSLR opened at $204.45 on Friday. The business’s 50-day moving average price is $218.77 and its 200 day moving average price is $222.64. The firm has a market cap of $21.97 billion, a P/E ratio of 12.60, a PEG ratio of 0.55 and a beta of 1.74. First Solar, Inc. has a 52-week low of $182.99 and a 52-week high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned $3.18 EPS. First Solar’s revenue was down 3.4% on a year-over-year basis. Sell-side analysts expect that First Solar, Inc. will post 17.77 EPS for the current year.

Insider Buying and Selling at First Solar

In related news, insider Michael Koralewski sold 7,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the completion of the sale, the insider directly owned 7,642 shares of the company’s stock, valued at $1,692,779.42. This represents a 47.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha Sloan sold 127 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $222.95, for a total transaction of $28,314.65. Following the sale, the executive vice president owned 2,018 shares of the company’s stock, valued at $449,913.10. The trade was a 5.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 15,881 shares of company stock valued at $3,617,086 over the last quarter. 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.