FORA Capital LLC Takes $594,000 Position in First Solar, Inc. (NASDAQ:FSLR)

FORA Capital LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,369 shares of the solar cell manufacturer's stock, valued at approximately $594,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fullcircle Wealth LLC grew its holdings in shares of First Solar by 43.6% during the fourth quarter. Fullcircle Wealth LLC now owns 2,010 shares of the solar cell manufacturer's stock worth $322,000 after purchasing an additional 610 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of First Solar by 8.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,748,603 shares of the solar cell manufacturer's stock valued at $308,174,000 after buying an additional 137,901 shares during the last quarter. EP Wealth Advisors LLC lifted its position in First Solar by 7.9% during the 4th quarter. EP Wealth Advisors LLC now owns 1,293 shares of the solar cell manufacturer's stock worth $228,000 after buying an additional 95 shares in the last quarter. CoreCommodity Management LLC grew its holdings in First Solar by 1.7% during the 4th quarter. CoreCommodity Management LLC now owns 7,264 shares of the solar cell manufacturer's stock worth $1,280,000 after acquiring an additional 123 shares during the last quarter. Finally, BOKF NA increased its position in First Solar by 87,650.0% in the 4th quarter. BOKF NA now owns 1,755 shares of the solar cell manufacturer's stock valued at $332,000 after acquiring an additional 1,753 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Up 22.7%

Shares of NASDAQ FSLR traded up $35.39 during mid-day trading on Tuesday, reaching $191.60. 20,201,695 shares of the company's stock were exchanged, compared to its average volume of 3,007,017. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.19 and a beta of 1.46. The business has a fifty day simple moving average of $130.84 and a 200 day simple moving average of $163.25.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same period in the previous year, the firm posted $2.20 EPS. The business's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FSLR shares. Barclays decreased their price target on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. BMO Capital Markets reduced their price objective on First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Truist Financial restated a "buy" rating and set a $200.00 target price (down previously from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Seaport Res Ptn upgraded First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada lowered their price objective on First Solar from $237.00 to $214.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have given 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 $223.76.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the sale, the chief executive officer now owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This trade represents a 1.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the transaction, the insider now owns 4,695 shares of the company's stock, valued at $624,247.20. The trade was a 8.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.48% of the company's stock.

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.