Hourglass Capital LLC Invests $942,000 in First Solar, Inc. (NASDAQ:FSLR)

Hourglass Capital LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,450 shares of the solar cell manufacturer's stock, valued at approximately $942,000.

Other hedge funds also recently bought and sold shares of the company. Garde Capital Inc. purchased a new stake in First Solar during the 1st quarter worth about $25,000. Smartleaf Asset Management LLC lifted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after buying an additional 63 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of First Solar during the 4th quarter worth approximately $53,000. CoreFirst Bank & Trust acquired a new position in shares of First Solar in the 4th quarter valued at $54,000. Finally, Abound Financial LLC purchased a new position in shares of First Solar in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FSLR. UBS Group reissued a "positive" rating on shares of First Solar in a research report on Tuesday. Mizuho upped their target price on First Solar from $251.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Royal Bank Of Canada lifted their price target on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Wolfe Research upgraded shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 target price on the stock in a research report on Tuesday, May 13th. Finally, TD Cowen cut their target price on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $228.69.

First Solar Trading Down 1.6%

Shares of First Solar stock traded down $2.65 during trading hours on Friday, reaching $162.44. 2,136,077 shares of the company's stock were exchanged, compared to its average volume of 3,259,446. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 0.33 and a beta of 1.52. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The company has a fifty day moving average of $160.16 and a 200-day moving average of $154.29.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. Sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In related news, insider Patrick James Buehler sold 1,868 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the transaction, the insider directly owned 5,998 shares of the company's stock, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer owned 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,976 shares of company stock worth $2,515,172 in the last quarter. 0.48% of the stock is owned by insiders.

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.