CenterBook Partners LP Sells 12,145 Shares of First Solar, Inc. (NASDAQ:FSLR)

Key Points

• CenterBook Partners LP significantly reduced its holdings in First Solar, Inc. by 44.5%, owning 15,126 shares after selling 12,145 shares, with a total value of approximately $1.91 million.
• Over 92% of First Solar's stock is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.
• Recent insider transactions included sales by Patrick James Buehler and Michael Koralewski, with insiders selling a total of 15,976 shares valued at over $2.5 million in the last quarter.

CenterBook Partners LP decreased its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 44.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,126 shares of the solar cell manufacturer's stock after selling 12,145 shares during the quarter. CenterBook Partners LP's holdings in First Solar were worth $1,912,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Evexia Wealth LLC increased its position in First Solar by 2.1% in the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock worth $586,000 after buying an additional 70 shares in the last quarter. Covestor Ltd increased its position in First Solar by 8.4% in the fourth quarter. Covestor Ltd now owns 993 shares of the solar cell manufacturer's stock worth $175,000 after buying an additional 77 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in First Solar by 0.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer's stock worth $1,435,000 after buying an additional 82 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in First Solar by 4.3% in the first quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer's stock worth $284,000 after buying an additional 92 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in First Solar by 7.9% in the fourth quarter. EP Wealth Advisors LLC now owns 1,293 shares of the solar cell manufacturer's stock worth $228,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares of the company's stock, valued at approximately $791,640. This trade represents a 26.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the sale, the insider directly owned 11,369 shares of the company's stock, valued at $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,976 shares of company stock valued at $2,515,172. Insiders own 0.48% of the company's stock.

First Solar Trading Down 0.5%

Shares of First Solar stock traded down $0.95 on Friday, reaching $184.65. The company had a trading volume of 1,629,586 shares, compared to its average volume of 2,623,156. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 0.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The firm's 50-day moving average price is $168.61 and its two-hundred day moving average price is $153.25. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.25 EPS. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FSLR shares. Robert W. Baird reduced their price target on First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Bank of America lifted their target price on First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. TD Cowen lifted their target price on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Oppenheimer downgraded First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $222.67.

First Solar Company 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.