JT Stratford LLC Invests $370,000 in First Solar, Inc. (NASDAQ:FSLR)

JT Stratford LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,098 shares of the solar cell manufacturer's stock, valued at approximately $370,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake 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 acquiring an additional 63 shares during the period. Crews Bank & Trust bought a new position in shares of First Solar in the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in First Solar in the 4th quarter valued at $53,000. Banque Transatlantique SA bought a new stake in First Solar during the 4th quarter valued at $53,000. Finally, CoreFirst Bank & Trust acquired a new position in First Solar during the fourth quarter worth $54,000. 92.08% of the stock is owned by institutional investors.

First Solar Trading Down 4.3%

Shares of FSLR stock opened at $156.35 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market cap of $16.77 billion, a P/E ratio of 13.47, a PEG ratio of 0.19 and a beta of 1.46. The company has a 50 day moving average of $137.32 and a 200-day moving average of $162.29. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the company posted $2.20 earnings per share. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Oppenheimer cut shares of First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. BMO Capital Markets dropped their price target on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. TD Cowen decreased their price objective on First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Glj Research raised First Solar from a "hold" rating to a "buy" rating and set a $172.37 price objective for the company in a research note on Thursday, May 1st. Finally, Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $226.30.

Insider Activity

In other news, CFO Alexander R. Bradley sold 599 shares of First Solar stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the transaction, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now directly owns 17,594 shares in the company, valued at $2,353,197.50. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 over the last quarter. Company insiders own 0.48% of the company's stock.

About First Solar

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.