40,000 Shares of First Solar, Inc. $FSLR Acquired by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• Cushing Asset Management acquired 40,000 First Solar shares worth approximately $7.0 million, while institutional investors collectively own 92.08% of the company.
• Analysts maintain a generally positive outlook, with First Solar holding a “Moderate Buy” consensus rating and an average price target of $265.73, despite a recent target reduction from Piper Sandler.
• First Solar exceeded quarterly earnings expectations with EPS of $3.92 versus the $2.90 consensus, though revenue declined 3.4% year over year; recent insider selling and elevated put-option activity signal potential near-term caution.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 40,000 shares of the solar cell manufacturer's stock, valued at approximately $7,006,000.

Other institutional investors also recently modified their holdings of the company. Fiduciary Financial Group LLC increased its position in First Solar by 2.3% in the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer's stock worth $478,000 after buying an additional 45 shares during the last quarter. Burford Brothers Inc. raised its position in shares of First Solar by 0.3% in the first quarter. Burford Brothers Inc. now owns 19,131 shares of the solar cell manufacturer's stock worth $3,774,000 after buying an additional 51 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of First Solar by 3.5% during the 1st quarter. Hilltop Holdings Inc. now owns 1,608 shares of the solar cell manufacturer's stock valued at $317,000 after acquiring an additional 54 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in First Solar by 0.3% during the second quarter. TD Waterhouse Canada Inc. now owns 17,102 shares of the solar cell manufacturer's stock valued at $3,973,000 after purchasing an additional 55 shares during the last quarter. Finally, Cox Capital Mgt LLC raised its position in First Solar by 0.4% during the third quarter. Cox Capital Mgt LLC now owns 13,989 shares of the solar cell manufacturer's stock valued at $2,450,000 after purchasing an additional 58 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FSLR. HSBC upgraded shares of First Solar from a "hold" rating to a "buy" rating in a report on Friday, August 7th. Mizuho set a $324.00 price target on shares of First Solar in a research report on Thursday, August 13th. Oppenheimer reissued a "market perform" rating on shares of First Solar in a report on Friday, July 31st. Wells Fargo & Company boosted their price objective on shares of First Solar from $300.00 to $313.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Piper Sandler cut their target price on First Solar from $260.00 to $251.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $265.73.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $168.15 on Tuesday. The stock's fifty day moving average price is $192.13 and its 200-day moving average price is $217.50. The company has a market cap of $18.07 billion, a P/E ratio of 10.37, a PEG ratio of 0.47 and a beta of 1.80. First Solar, Inc. has a 1 year low of $165.86 and a 1 year high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, topping 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 firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $3.18 earnings per share. The business's revenue for the quarter was down 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that First Solar, Inc. will post 17.63 earnings per share for the current year.

Trending Headlines about First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Truist reiterated Buy ratings on several clean-energy stocks, including First Solar, citing a favorable long-term demand outlook. The U.S. is expected to add roughly 38 GWac of utility-scale solar and 26 GW of storage capacity annually through 2030, supporting potential growth in First Solar’s project pipeline, revenue and margins. Truist names top clean energy stocks to watch ahead of Q3 earnings season
• Positive Sentiment: Wall Street brokerages collectively rate First Solar “Moderate Buy,” suggesting analysts generally see upside despite the stock’s recent decline and concerns surrounding the solar industry. First Solar Stock Rated Moderate Buy by Wall Street Brokerages
• Neutral Sentiment: Reported short-interest data showed zero shares sold short and a zero-day days-to-cover ratio. Because this conflicts with the description of a large increase in short interest, the figure may reflect a reporting or data-quality issue and provides little reliable trading insight.
• Negative Sentiment: Investors purchased 38,523 put options on First Solar, 45% above typical daily put volume. The activity signals increased demand for downside protection or bearish speculation and may be contributing to near-term selling pressure.
• Negative Sentiment: Investors continue to focus on securities class-action lawsuits concerning how management characterized the benefits of tariffs. Although First Solar has reported strong sales and margins, legal scrutiny could weaken confidence in the durability of those gains and remain an overhang on the shares. Caught Out By First Solar's Fall? What Bears Saw

Insiders Place Their Bets

In other news, EVP Samantha L. Sloan sold 127 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $222.95, for a total transaction of $28,314.65. Following the completion of the transaction, the executive vice president owned 2,018 shares in the company, valued at $449,913.10. This trade represents a 5.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jason E. Dymbort sold 3,700 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction of $922,706.00. Following the sale, the general counsel directly owned 5,624 shares in the company, valued at approximately $1,402,513.12. The trade was a 39.68% 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. In the last ninety days, insiders sold 16,681 shares of company stock worth $3,756,286. 0.39% of the stock is currently owned by insiders.

About First Solar

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.

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