First Solar, Inc. $FSLR Stake Lowered by CenterBook Partners LP

CenterBook Partners LP trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 88.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,748 shares of the solar cell manufacturer's stock after selling 35,732 shares during the quarter. CenterBook Partners LP's holdings in First Solar were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Aventura Private Wealth LLC bought a new position in First Solar during the 4th quarter worth $25,000. Larson Financial Group LLC lifted its stake in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock valued at $27,000 after buying an additional 55 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of First Solar during the fourth quarter valued at $30,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar during the second quarter valued at $26,000. Finally, Rothschild Investment LLC grew its position in shares of First Solar by 212.3% during the fourth quarter. Rothschild Investment LLC now owns 178 shares of the solar cell manufacturer's stock worth $47,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of First Solar from $205.00 to $187.00 and set a "hold" rating on the stock in a report on Tuesday, April 7th. Morgan Stanley decreased their target price on shares of First Solar from $275.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 28th. DZ Bank upgraded shares of First Solar to a "strong sell" rating in a research note on Thursday, February 26th. Citigroup cut their price target on First Solar from $300.00 to $243.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. Finally, TD Cowen reduced their price objective on First Solar from $320.00 to $253.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $247.40.

Insider Transactions at First Solar

In other First Solar news, insider Georges Antoun sold 566 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $122,046.58. Following the completion of the sale, the insider directly owned 19,918 shares of the company's stock, valued at approximately $4,294,918.34. This represents a 2.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kuntal Kumar Verma sold 582 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $250.00, for a total transaction of $145,500.00. Following the transaction, the insider owned 4,967 shares of the company's stock, valued at approximately $1,241,750. This trade represents a 10.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 60,694 shares of company stock valued at $13,659,583 in the last quarter. 0.39% of the stock is owned by company insiders.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $249.27 on Thursday. The stock has a market cap of $26.78 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.58 and a beta of 1.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. First Solar, Inc. has a 12 month low of $135.50 and a 12 month high of $320.95. The stock's 50 day moving average price is $229.12 and its 200 day moving average price is $233.27.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm's revenue for the quarter was up 23.6% on a year-over-year basis. During the same period last year, the firm earned $1.95 EPS. Equities research analysts anticipate that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

First Solar 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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