First Solar, Inc. $FSLR Shares Acquired by Andra AP fonden

Key Points

• Andra AP fonden boosted its First Solar stake by 226.3% in the first quarter, ending with 78,249 shares worth about $15.4 million. Institutional investors and hedge funds now hold about 92.08% of the stock.
• First Solar shares were up slightly, opening at $206.05, while the stock remains well below its 52-week high of $320.95. The company also has strong liquidity, with a quick ratio of 2.15 and a current ratio of 2.56.
• The company recently posted better-than-expected earnings, reporting $3.22 EPS versus the $2.87 estimate and revenue of $1.04 billion. Analysts currently rate the stock a Moderate Buy, with a consensus price target of $257.10, though legal headlines and insider selling remain potential overhangs.

Andra AP fonden raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 226.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,249 shares of the solar cell manufacturer's stock after acquiring an additional 54,271 shares during the period. Andra AP fonden owned approximately 0.07% of First Solar worth $15,435,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new stake in First Solar during the fourth quarter worth about $25,000. Commonwealth Retirement Investments LLC purchased a new position in First Solar in the fourth quarter valued at about $26,000. Reflection Asset Management purchased a new position in First Solar in the fourth quarter valued at about $26,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar during the 2nd quarter valued at approximately $26,000. Finally, Larson Financial Group LLC lifted its position in shares of First Solar by 117.0% during 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. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Up 0.4%

Shares of First Solar stock opened at $206.05 on Wednesday. The business has a 50-day moving average price of $250.23 and a 200 day moving average price of $227.94. First Solar, Inc. has a fifty-two week low of $171.99 and a fifty-two week high of $320.95. The firm has a market cap of $22.14 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.46 and a beta of 1.73. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the company earned $1.95 EPS. The company's revenue for the quarter was up 23.6% compared to the same quarter last year. On average, sell-side analysts forecast that First Solar, Inc. will post 17.54 earnings per share for the current fiscal year.

Key First Solar News

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

• Positive Sentiment: First Solar continues to draw attention from investors and analysts because of its growth in U.S. solar manufacturing and exposure to domestic solar demand. Article Title
• Neutral Sentiment: Several law firms issued reminder notices about the pending securities class action and the August 24 deadline for investors to seek lead-plaintiff status. Article Title
• Neutral Sentiment: Pomerantz announced that a class action has been filed against First Solar and certain officers, alleging securities-law violations tied to the class period. Article Title
• Negative Sentiment: The lawsuit and repeated legal notices highlight alleged misrepresentations about module production underutilization and the challenges of onshoring operations, which can weigh on investor sentiment and raise litigation risk. Article Title

Insider Activity

In related news, insider Caroline Stockdale sold 10,628 shares of the company's stock in a transaction on 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 completion of the sale, the insider directly owned 23,792 shares of the company's stock, valued at approximately $6,557,075.20. This represents a 30.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $250.00, for a total value of $145,500.00. Following the completion of the transaction, the insider owned 4,967 shares in the company, valued at $1,241,750. The trade was a 10.49% 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 sold a total of 31,893 shares of company stock valued at $7,893,775 in the last three months. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Susquehanna increased their price target on shares of First Solar from $250.00 to $270.00 and gave the company a "positive" rating in a research report on Friday, July 10th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $207.00 target price on shares of First Solar in a research note on Tuesday. Zacks Research upgraded First Solar from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Evercore raised their price target on First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. Finally, Weiss Ratings raised First Solar from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $257.10.

First Solar Company Profile

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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