Hourglass Capital LLC Has $1.48 Million Holdings in First Solar, Inc. $FSLR

Key Points

• Hourglass Capital LLC increased its stake in First Solar by 20.1% during the second quarter, now holding $1.48 million worth of shares.
• Analysts have shown positive sentiment towards First Solar, with multiple upgrades leading to a consensus price target of $238.72 per share.
• Insider trading activity has been noted, with key executives selling shares recently, indicating potential shifts in personal investment strategies.

Hourglass Capital LLC lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 20.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,950 shares of the solar cell manufacturer's stock after acquiring an additional 1,500 shares during the quarter. Hourglass Capital LLC's holdings in First Solar were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in FSLR. Cetera Investment Advisers boosted its position in shares of First Solar by 10.9% during the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer's stock valued at $3,216,000 after buying an additional 2,510 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of First Solar by 396.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after purchasing an additional 9,405 shares during the period. Asset Management One Co. Ltd. increased its stake in First Solar by 7.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock worth $6,160,000 after acquiring an additional 3,226 shares during the last quarter. Vontobel Holding Ltd. increased its stake in First Solar by 14.2% in the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock worth $23,936,000 after acquiring an additional 23,528 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in shares of First Solar by 24.7% in the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock worth $1,224,000 after purchasing an additional 1,916 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Glj Research restated a "buy" rating and issued a $214.06 price target (up from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. BMO Capital Markets lifted their target price on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Weiss Ratings restated a "hold (c)" rating on shares of First Solar in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on First Solar from $241.00 to $262.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $238.72.

Insider Activity at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the transaction, the chief executive officer owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,715 shares of company stock worth $5,733,305. Corporate insiders own 0.48% of the company's stock.

First Solar Stock Performance

Shares of FSLR stock opened at $244.40 on Thursday. The business has a fifty day moving average of $208.89 and a 200 day moving average of $173.50. The firm has a market capitalization of $26.21 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 0.45 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $248.04.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.

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