Encompass Capital Advisors LLC Grows Stock Holdings in First Solar, Inc. $FSLR

Key Points

• Encompass Capital Advisors LLC increased its stake in First Solar by 97.1%, owning 650,000 shares valued at approximately $82.2 million, making it the firm's fifth largest position.
• First Solar's stock was recently rated with a Moderate Buy average by analysts, with target prices ranging from $203 to $278, following a positive earnings report that exceeded consensus estimates.
• Insider transactions revealed significant sales, including CEO Mark R. Widmar selling 23,912 shares, leading to a 21.37% decrease in his ownership in the company.

Encompass Capital Advisors LLC lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 97.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 650,000 shares of the solar cell manufacturer's stock after purchasing an additional 320,282 shares during the period. First Solar comprises 3.1% of Encompass Capital Advisors LLC's portfolio, making the stock its 5th largest position. Encompass Capital Advisors LLC owned 0.61% of First Solar worth $82,180,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FSLR. Garde Capital Inc. acquired a new stake in shares of First Solar during the first quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new position in shares of First Solar during the first quarter worth about $25,000. Larson Financial Group LLC raised its stake in First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after buying an additional 219 shares in the last quarter. Colonial Trust Advisors bought a new position in First Solar during the 1st quarter worth approximately $32,000. Finally, Abound Financial LLC bought a new position in First Solar during the 1st quarter worth approximately $45,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

NASDAQ FSLR traded up $3.27 on Friday, hitting $205.14. The stock had a trading volume of 3,065,868 shares, compared to its average volume of 3,206,255. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The stock has a market cap of $22.00 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 0.40 and a beta of 1.41. The company's 50-day moving average is $184.59 and its two-hundred day moving average is $157.66.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate 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 net margin of 28.95% and a return on equity of 15.57%. First Solar's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value 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 represents a 26.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 2,321 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the sale, the chief executive officer directly owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. This represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,315 shares of company stock valued at $6,021,305. Company insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on FSLR shares. The Goldman Sachs Group increased their target price on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Bank of America increased their target price on First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Guggenheim increased their target price on First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Finally, Susquehanna increased their price objective on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and an average price target of $225.84.

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.