Hunter Associates Investment Management LLC Makes New $272,000 Investment in First Solar, Inc. (NASDAQ:FSLR)

Hunter Associates Investment Management LLC bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,150 shares of the solar cell manufacturer's stock, valued at approximately $272,000.

Other institutional investors also recently bought and sold shares of the company. Garde Capital Inc. purchased a new position in First Solar during the first quarter worth about $25,000. Banque Transatlantique SA purchased a new stake in shares of First Solar in the 4th quarter valued at approximately $53,000. CoreFirst Bank & Trust purchased a new stake in shares of First Solar in the 4th quarter valued at approximately $54,000. Abound Financial LLC purchased a new stake in shares of First Solar in the 1st quarter valued at approximately $45,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of First Solar in the 1st quarter valued at approximately $51,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FSLR. Wells Fargo & Company reduced their price target on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Mizuho boosted their price target on shares of First Solar from $251.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Oppenheimer downgraded shares of First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. Wall Street Zen downgraded shares of First Solar from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Finally, Truist Financial reaffirmed a "buy" rating and set a $200.00 target price (down from $245.00) on shares of First Solar in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $228.69.

First Solar Trading Down 0.5%

Shares of First Solar stock opened at $165.09 on Friday. The company has a fifty day simple moving average of $159.52 and a 200-day simple moving average of $154.45. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. The stock has a market cap of $17.70 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.33 and a beta of 1.52.

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

Insider Activity

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

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.

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