Y Intercept Hong Kong Ltd Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Y Intercept Hong Kong Ltd purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 15,154 shares of the solar cell manufacturer's stock, valued at approximately $1,916,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSLR. Garde Capital Inc. purchased a new stake in shares of First Solar during the 1st quarter worth about $25,000. Larson Financial Group LLC increased its holdings in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares during the last quarter. Abound Financial LLC acquired a new position in shares of First Solar during the 1st quarter valued at about $45,000. Princeton Global Asset Management LLC acquired a new position in shares of First Solar during the 1st quarter valued at about $51,000. Finally, Banque Transatlantique SA acquired a new position in shares of First Solar during the 4th quarter valued at about $53,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

FSLR stock traded up $4.60 during trading on Friday, hitting $185.32. The company had a trading volume of 2,047,103 shares, compared to its average volume of 3,608,725. The company has a fifty day moving average price of $163.95 and a two-hundred day moving average price of $153.39. 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 company has a market cap of $19.87 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.36 and a beta of 1.52. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last announced 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 company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. First Solar's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. Equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Patrick James Buehler sold 1,868 shares of the business's 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 owned 5,998 shares of the company's stock, valued at approximately $894,181.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares in the company, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wolfe Research raised First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective on the stock in a report on Tuesday, May 13th. Piper Sandler lowered their price objective on First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. TD Cowen lowered their price objective on First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. KeyCorp lowered First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective on the stock. in a report on Wednesday, April 30th. Finally, Bank of America increased their price objective on First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $225.73.

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.