Bank of Nova Scotia Invests $3.27 Million in First Solar, Inc. $FSLR

Bank of Nova Scotia bought a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,865 shares of the solar cell manufacturer's stock, valued at approximately $3,271,000.

Several other large investors also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC acquired a new position in shares of First Solar during the fourth quarter worth approximately $26,000. Reflection Asset Management bought a new position in First Solar in the 4th quarter worth approximately $26,000. Strategic Wealth Investment Group LLC acquired a new stake in First Solar in the 2nd quarter valued at approximately $26,000. Larson Financial Group LLC increased its position in 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 acquiring an additional 55 shares during the period. Finally, Elyxium Wealth LLC bought a new stake in First Solar during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Price Performance

FSLR opened at $206.82 on Wednesday. The company has a market capitalization of $22.22 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.45 and a beta of 1.75. First Solar, Inc. has a fifty-two week low of $182.99 and a fifty-two week high of $320.95. The business has a 50-day moving average of $226.41 and a 200-day moving average of $223.78.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (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 analysts' expectations of $1.06 billion. During the same period in the prior year, the company posted $3.18 earnings per share. First Solar's revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts expect that First Solar, Inc. will post 17.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on FSLR shares. UBS Group boosted their price target on First Solar from $290.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. The Goldman Sachs Group lifted their price objective on shares of First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. Freedom Capital raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. HSBC raised shares of First Solar from a "hold" rating to a "buy" rating in a research note on Friday, August 7th. Finally, Evercore restated a "positive" rating and set a $218.00 price target on shares of First Solar in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $264.44.

Insider Buying and Selling at First Solar

In other news, insider Caroline Stockdale sold 10,628 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the transaction, the insider owned 23,792 shares in the company, valued at approximately $6,557,075.20. The trade was a 30.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 3,700 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total value of $922,706.00. Following the transaction, the general counsel owned 5,624 shares in the company, valued at $1,402,513.12. This represents 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 25,709 shares of company stock valued at $6,386,163 in the last three months. 0.39% of the stock is owned by insiders.

Key First Solar News

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

• Positive Sentiment: Value appeal: Zacks identifies First Solar as a top-ranked value stock, potentially supporting investor interest given its reported earnings strength and relatively low valuation metrics. First Solar Is a Top-Ranked Value Stock
• Neutral Sentiment: Short-interest data offers no actionable signal: The latest report lists short interest at zero shares and a zero-day days-to-cover ratio, unchanged from the prior period. Because the figures include an apparent calculation error (“NaN” increase), they should not be interpreted as evidence of either short covering or heightened bearish positioning.
• Negative Sentiment: Legal overhang intensifies: Multiple law firms are promoting a securities class action against First Solar and seeking investors to serve as lead plaintiff. The reported claims focus on alleged misrepresentations regarding underutilization of Series 6 module production and the costly challenges of expanding manufacturing operations in South Carolina. The allegations have not been proven, but the repeated announcements may weigh on sentiment by raising potential financial, legal and reputational risks. First Solar Investor Alert Levi and Korsinsky First Solar Lawsuit Alert

About First Solar

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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