First Solar, Inc. $FSLR Shares Sold by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft cut its First Solar stake by 45.4% in the fourth quarter, selling 4,976 shares and leaving it with 5,988 shares valued at about $1.56 million.
• Despite that trim, institutional ownership remains very high: hedge funds and other institutions own about 92.08% of First Solar shares, and several funds recently increased or initiated positions.
• Analyst sentiment is mostly positive, with First Solar carrying a “Moderate Buy” consensus and a $247.03 average price target; recent reports included Argus lifting its target to $275 and reiterating a buy rating.

Baader Bank Aktiengesellschaft trimmed its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 45.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,988 shares of the solar cell manufacturer's stock after selling 4,976 shares during the period. Baader Bank Aktiengesellschaft's holdings in First Solar were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Joule Financial LLC purchased a new position in First Solar in the 3rd quarter worth approximately $950,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of First Solar by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer's stock worth $17,015,000 after buying an additional 13,904 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $1,193,000. National Pension Service increased its holdings in shares of First Solar by 24.1% during the 3rd quarter. National Pension Service now owns 41,419 shares of the solar cell manufacturer's stock worth $9,134,000 after buying an additional 8,036 shares during the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of First Solar by 70.2% during the 3rd quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer's stock worth $33,163,000 after buying an additional 62,048 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America cut their price target on shares of First Solar from $291.00 to $271.00 and set a "buy" rating for the company in a report on Thursday, January 22nd. Argus raised their price target on shares of First Solar from $250.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday. BMO Capital Markets cut their price target on shares of First Solar from $252.00 to $237.00 and set a "market perform" rating for the company in a report on Monday, April 20th. Mizuho dropped their target price on shares of First Solar from $271.00 to $243.00 and set an "outperform" rating for the company in a report on Monday, April 27th. Finally, Zacks Research upgraded shares of First Solar from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $247.03.

First Solar News Roundup

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

• Positive Sentiment: Argus raised its price target on First Solar to $275 from $250 and reiterated a buy rating, signaling confidence in further upside after recent strength. Argus Adjusts Price Target on First Solar
• Positive Sentiment: Broader solar stocks are showing improved momentum, with reports that First Solar and other clean-energy names are attempting breakouts as investors rotate back into the sector. Solar Stocks Could Have More Room to Run
• Positive Sentiment: Bloomberg reported that Chinese clean-tech firms are pulling back from the U.S. because of a tougher policy environment and possible loss of incentives, which could improve the competitive position of U.S.-based solar manufacturers such as First Solar. China’s $3 Billion US Clean Tech Exit Is an Investment Warning
• Neutral Sentiment: First Solar CEO Mark Widmar disclosed two recent stock sales under a pre-arranged 10b5-1 plan. Insider selling can draw attention, but the transactions appear routine rather than a negative business signal.
• Neutral Sentiment: The company’s shareholder/analyst call transcript was published, but no new material catalyst was highlighted in the provided headline.

Insiders Place Their Bets

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of First Solar stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the completion of the sale, the general counsel directly owned 9,850 shares of the company's stock, valued at approximately $1,966,257. The trade was a 47.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 3,426 shares of First Solar stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $671,256.18. Following the sale, the insider directly owned 8,334 shares of the company's stock, valued at approximately $1,632,880.62. This trade represents a 29.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 92,430 shares of company stock valued at $18,670,055. Corporate insiders own 0.39% of the company's stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $234.60 on Thursday. The company has a fifty day simple moving average of $199.13 and a two-hundred day simple moving average of $231.46. The company has a market cap of $25.21 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.50 and a beta of 1.57. 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, Inc. has a 52 week low of $135.50 and a 52 week high of $285.99.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.95 earnings per share. As a group, equities analysts anticipate that First Solar, Inc. will post 17.63 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.