Ninepoint Partners LP Purchases Shares of 6,125 First Solar, Inc. (NASDAQ:FSLR)

Ninepoint Partners LP bought a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,125 shares of the solar cell manufacturer's stock, valued at approximately $1,055,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First Solar by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer's stock valued at $94,419,000 after acquiring an additional 20,946 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of First Solar by 504.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer's stock worth $68,852,000 after buying an additional 333,496 shares during the period. Sora Investors LLC increased its stake in First Solar by 63.6% during the 3rd quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer's stock worth $14,543,000 after buying an additional 35,000 shares during the period. Vanguard Group Inc. boosted its position in First Solar by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer's stock valued at $1,945,549,000 after buying an additional 279,424 shares during the last quarter. Finally, Bull Oak Capital LLC grew its stake in shares of First Solar by 304,592.2% during the fourth quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer's stock valued at $26,771,000 after acquiring an additional 155,342 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 250 shares of the company's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company's stock, valued at approximately $766,917.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Kuntal Kumar Verma sold 250 shares of the business's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now owns 5,170 shares of the company's stock, valued at approximately $766,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Georges Antoun sold 16,667 shares of the firm's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares of the company's stock, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 over the last ninety days. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FSLR shares. Mizuho increased their price target on First Solar from $188.00 to $196.00 and gave the company a "buy" rating in a report on Wednesday, January 3rd. DZ Bank started coverage on First Solar in a research note on Wednesday. They set a "buy" rating and a $205.00 target price for the company. Oppenheimer restated an "outperform" rating and issued a $269.00 price target on shares of First Solar in a research note on Wednesday. Janney Montgomery Scott started coverage on shares of First Solar in a research note on Friday, April 12th. They set a "buy" rating and a $236.00 price objective on the stock. Finally, Bank of America lifted their price target on First Solar from $187.00 to $194.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and an average price target of $229.68.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded up $0.75 during trading hours on Friday, hitting $175.04. The stock had a trading volume of 3,259,521 shares, compared to its average volume of 2,093,484. The stock's fifty day simple moving average is $160.86 and its 200 day simple moving average is $156.05. The firm has a market capitalization of $18.74 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $232.00.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned ($0.07) EPS. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

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.