Financial Sense Advisors Inc. Boosts Position in First Solar, Inc. (NASDAQ:FSLR)

Financial Sense Advisors Inc. boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,394 shares of the solar cell manufacturer's stock after buying an additional 2,392 shares during the quarter. First Solar makes up about 1.1% of Financial Sense Advisors Inc.'s portfolio, making the stock its 22nd biggest position. Financial Sense Advisors Inc.'s holdings in First Solar were worth $3,969,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its position in First Solar by 396.5% during the first quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after acquiring an additional 9,405 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in First Solar by 7.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after purchasing an additional 3,226 shares during the period. Vontobel Holding Ltd. grew its position in shares of First Solar by 14.2% during the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock worth $23,936,000 after buying an additional 23,528 shares in the last quarter. Oakworth Capital Inc. increased its position in First Solar by 24.7% during the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after buying an additional 1,916 shares in the last quarter. Finally, Ethic Inc. increased its stake in shares of First Solar by 34.2% in the fourth quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock worth $3,138,000 after acquiring an additional 4,542 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Trading Up 0.9%

Shares of First Solar stock traded up $1.66 on Tuesday, reaching $179.99. 1,943,397 shares of the company's stock were exchanged, compared to its average volume of 3,252,231. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The firm's 50-day moving average is $163.98 and its two-hundred day moving average is $153.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. The company has a market capitalization of $19.30 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 0.35 and a beta of 1.52.

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

Insider Buying and Selling

In related news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer directly owned 8,037 shares in the company, valued at $1,246,136.85. This represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock valued at $2,515,172 over the last quarter. Corporate insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FSLR. Susquehanna upped their target price on First Solar from $186.00 to $203.00 and gave the stock a "positive" rating in a research report on Monday. Royal Bank Of Canada lifted their target price on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Piper Sandler cut their price target on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Mizuho increased their price target on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Finally, UBS Group reissued a "positive" rating on shares of First Solar in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus price target of $225.73.

About First Solar

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.