Canvas Wealth Advisors LLC Buys Shares of 2,181 First Solar, Inc. (NASDAQ:FSLR)

Canvas Wealth Advisors LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,181 shares of the solar cell manufacturer's stock, valued at approximately $295,000.

Several other large investors have also made changes to their positions in FSLR. Norges Bank acquired a new stake in shares of First Solar in the 4th quarter valued at $317,399,000. Demars Financial Group LLC grew its position in First Solar by 17,404.5% in the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock valued at $127,379,000 after acquiring an additional 718,631 shares during the last quarter. Mirova US LLC grew its position in First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock valued at $113,906,000 after acquiring an additional 585,394 shares during the last quarter. Amundi raised its stake in First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after acquiring an additional 426,797 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of First Solar by 218.6% in the 4th quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after purchasing an additional 306,581 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on FSLR shares. Piper Sandler dropped their price objective on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. UBS Group reiterated a "buy" rating and issued a $255.00 price target on shares of First Solar in a research note on Wednesday, May 14th. Redburn Atlantic started coverage on First Solar in a research report on Monday, March 3rd. They set a "neutral" rating on the stock. Barclays dropped their target price on First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley set a $223.00 price objective on First Solar and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and a consensus target price of $229.19.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 1,868 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the sale, the insider now owns 5,998 shares in the company, valued at $894,181.84. This represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer now owns 8,037 shares in the company, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,376 shares of company stock valued at $2,227,172 over the last ninety days. 0.48% of the stock is currently owned by insiders.

First Solar Trading Up 1.9%

Shares of First Solar stock opened at $155.63 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The stock has a 50 day moving average price of $152.12 and a two-hundred day moving average price of $155.91. The stock has a market capitalization of $16.69 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 0.31 and a beta of 1.53.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The business had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same period in the previous year, the business posted $2.20 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.

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