57,181 First Solar, Inc. $FSLR Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB cut its First Solar stake by 37.6%, selling 57,181 shares and retaining 94,792 shares valued at approximately $16.6 million. Institutional investors collectively own 92.08% of the company.
• First Solar has a Moderate Buy consensus rating with an average analyst price target of $265.73, although JPMorgan lowered its target and Zacks cautioned that the company lacks strong earnings-beat indicators.
• The stock opened at $171.25, near its 52-week low of $168.60 and below its 50- and 200-day moving averages. Company insiders have also sold 16,681 shares worth $3.76 million over the past three months.

E. Ohman J or Asset Management AB decreased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 37.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 94,792 shares of the solar cell manufacturer's stock after selling 57,181 shares during the period. E. Ohman J or Asset Management AB owned approximately 0.09% of First Solar worth $16,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FSLR. Clearstead Trust LLC acquired a new stake in First Solar in the second quarter valued at about $34,000. Vega Investment Solutions acquired a new position in First Solar during the second quarter worth about $40,000. Toth Financial Advisory Corp acquired a new position in First Solar during the third quarter worth about $32,000. Rakuten Securities Inc. bought a new position in shares of First Solar in the second quarter worth about $44,000. Finally, Allied Private Wealth LLC bought a new position in shares of First Solar in the second quarter worth about $45,000. Institutional investors own 92.08% of the company's stock.

Trending Headlines about First Solar

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

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a positive analyst signal and potential support for the stock. The recommendation suggests the firm sees longer-term value in First Solar despite recent weakness. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether domestic solar-panel demand is strengthening ahead of the quarterly report. Strong U.S. demand could reinforce First Solar’s growth outlook and support its project pipeline. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is attracting unusually high investor attention, but the trend reflects interest rather than a specific new business development or confirmed catalyst. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion volatility. Should You Buy First Solar Stock for Its Cash?
• Negative Sentiment: JPMorgan reduced its price target for First Solar, signaling a less optimistic near-term view and adding pressure to the valuation narrative. First Solar Stock Price Target Cut by JPMorgan
• Negative Sentiment: Zacks said First Solar does not currently have the combination of factors it uses to identify a likely earnings beat. Although earnings are expected to grow, the warning raises the risk of disappointment when results are released. First Solar Earnings Expected to Grow

Insider Buying and Selling at First Solar

In related news, CTO Markus Gloeckler sold 3,425 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $218.95, for a total value of $749,903.75. Following the sale, the chief technology officer owned 7,471 shares of the company's stock, valued at $1,635,775.45. The trade was a 31.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason Dymbort sold 3,700 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total value of $922,706.00. Following the completion of the sale, the general counsel owned 5,624 shares of the company's stock, valued at $1,402,513.12. The trade was a 39.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,681 shares of company stock worth $3,756,286 in the last three months. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on FSLR. TD Cowen raised shares of First Solar to a "strong-buy" rating in a report on Monday, October 5th. Wells Fargo & Company increased 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. Piper Sandler cut their target price on shares of First Solar from $260.00 to $251.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 30th. Weiss Ratings raised shares of First Solar from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Finally, Evercore reaffirmed a "positive" rating and set a $218.00 target price on shares of First Solar in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $265.73.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $171.25 on Friday. The company has a 50 day simple moving average of $193.93 and a 200 day simple moving average of $218.54. First Solar, Inc. has a 1 year low of $168.60 and a 1 year high of $320.95. The firm has a market cap of $18.40 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.48 and a beta of 1.80.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share 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 for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm posted $3.18 EPS. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, research analysts anticipate that First Solar, Inc. will post 17.63 earnings per share for the current fiscal year.

First Solar Profile

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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