Harel Insurance Investments & Financial Services Ltd. Purchases 7,046 Shares of First Solar, Inc. (NASDAQ:FSLR)

Harel Insurance Investments & Financial Services Ltd. boosted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4,760.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,194 shares of the solar cell manufacturer's stock after buying an additional 7,046 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in First Solar were worth $910,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FSLR. SPX Gestao de Recursos Ltda acquired a new position in First Solar in the fourth quarter valued at approximately $2,644,000. Smartleaf Asset Management LLC lifted its holdings in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares during the period. Jones Financial Companies Lllp lifted its holdings in First Solar by 17.8% in the fourth quarter. Jones Financial Companies Lllp now owns 2,308 shares of the solar cell manufacturer's stock valued at $407,000 after buying an additional 348 shares during the period. SBI Securities Co. Ltd. acquired a new stake in First Solar in the fourth quarter worth $114,000. Finally, Mission Wealth Management LP raised its holdings in First Solar by 45.6% in the fourth quarter. Mission Wealth Management LP now owns 1,245 shares of the solar cell manufacturer's stock worth $219,000 after purchasing an additional 390 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Solar news, insider Patrick James Buehler sold 1,600 shares of First Solar stock in a transaction dated 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 owned 4,398 shares in the company, valued at $791,640. The trade was a 26.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the sale, the insider owned 11,369 shares of the company's stock, valued at $1,798,689.49. This trade represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock worth $2,515,172 in the last quarter. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $11.40 during mid-day trading on Tuesday, reaching $165.66. 4,097,496 shares of the company were exchanged, compared to its average volume of 4,030,525. The company's 50-day simple moving average is $157.39 and its 200-day simple moving average is $154.44. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $17.77 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.37 and a beta of 1.52. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its 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). The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 EPS. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FSLR shares. The Goldman Sachs Group increased their target price on shares of First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Mizuho increased their target price on shares of First Solar from $251.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Glj Research upgraded shares of First Solar from a "hold" rating to a "buy" rating and set a $172.37 target price on the stock in a report on Thursday, May 1st. Oppenheimer lowered shares of First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Finally, Truist Financial reissued a "buy" rating and set a $200.00 price objective (down previously from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $228.69.

First Solar 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.