Hennessy Advisors Inc. Invests $316,000 in First Solar, Inc. (NASDAQ:FSLR)

Hennessy Advisors Inc. bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,500 shares of the solar cell manufacturer's stock, valued at approximately $316,000.

Several other large investors have also bought and sold shares of FSLR. Smartleaf Asset Management LLC grew its holdings in shares of First Solar by 31.7% during 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 last quarter. Independent Advisor Alliance boosted its holdings in shares of First Solar by 3.1% in the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock worth $368,000 after buying an additional 63 shares during the last quarter. Huntington National Bank grew its position in shares of First Solar by 15.3% during the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after acquiring an additional 68 shares during the period. Evexia Wealth LLC lifted its position in shares of First Solar by 2.1% during the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock valued at $586,000 after buying an additional 70 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in First Solar by 18.8% during the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock valued at $84,000 after purchasing an additional 75 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

NASDAQ FSLR traded up $0.05 during trading hours on Monday, reaching $175.25. The company's stock had a trading volume of 4,343,269 shares, compared to its average volume of 3,068,531. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 0.19 and a beta of 1.53. The company's 50-day moving average is $147.77 and its two-hundred day moving average is $158.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $274.08.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same period in the previous year, the company earned $2.20 earnings per share. The company's quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on First Solar from $237.00 to $214.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley set a $223.00 price objective on shares of First Solar and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. TD Cowen reduced their target price on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Oppenheimer lowered First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Finally, Roth Mkm restated a "buy" rating and set a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.19.

Insider Activity

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the transaction, the chief technology officer now owns 8,037 shares in the company, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the firm's 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 transaction, the insider now directly owns 11,369 shares in the company, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,376 shares of company stock worth $2,227,172 over the last 90 days. 0.48% of the stock is currently owned by company insiders.

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.