Freestone Grove Partners LP Takes $4.27 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Freestone Grove Partners LP purchased a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,223 shares of the solar cell manufacturer's stock, valued at approximately $4,269,000.

Other large investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC increased its position in First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock worth $1,623,000 after buying an additional 55 shares during the last quarter. Doliver Advisors LP increased its holdings in First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock worth $831,000 after acquiring an additional 56 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of First Solar by 3.1% in the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock worth $368,000 after purchasing an additional 63 shares in the last quarter. Finally, Huntington National Bank lifted its stake in shares of First Solar by 15.3% during the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Down 0.3 %

Shares of FSLR stock traded down $0.40 during mid-day trading on Tuesday, reaching $126.76. 2,694,667 shares of the company's stock traded hands, compared to its average volume of 2,859,991. The company's 50-day moving average price is $130.43 and its 200-day moving average price is $165.33. The company has a market cap of $13.59 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.19 and a beta of 1.46. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. 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 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). The business 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 in the prior year, the business posted $2.20 EPS. On average, equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company's stock, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 229 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company's stock, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 over the last three months. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FSLR. Morgan Stanley set a $223.00 price target on First Solar and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Truist Financial restated a "buy" rating and issued a $200.00 price objective (down from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Seaport Res Ptn upgraded shares of First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Roth Mkm reaffirmed a "buy" rating and issued a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price objective on First Solar from $237.00 to $214.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $223.87.

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.