Shay Capital LLC Sells 5,000 Shares of First Solar, Inc. (NASDAQ:FSLR)

Shay Capital LLC lowered its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 62.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,000 shares of the solar cell manufacturer's stock after selling 5,000 shares during the quarter. Shay Capital LLC's holdings in First Solar were worth $529,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Clear Harbor Asset Management LLC increased its stake 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 valued at $1,623,000 after acquiring an additional 55 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 buying an additional 63 shares during the last quarter. Independent Advisor Alliance grew its stake in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock valued at $368,000 after buying an additional 63 shares during the last quarter. Huntington National Bank grew its stake in shares of First Solar by 15.3% during the fourth 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 during the last quarter. Finally, Evexia Wealth LLC grew its stake in shares of First Solar by 2.1% during the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock valued at $586,000 after buying an additional 70 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Trading Up 1.4%

FSLR stock traded up $2.30 during midday trading on Tuesday, reaching $167.22. 6,087,508 shares of the company traded hands, compared to its average volume of 3,116,252. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The business has a 50 day moving average of $135.55 and a 200-day moving average of $162.64. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. During the same quarter in the previous year, the company posted $2.20 earnings per share. The company's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FSLR. Robert W. Baird cut their target price on First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Barclays decreased their price objective on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Mizuho upgraded shares of First Solar from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Bank of America decreased their target price on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup decreased their target price on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $226.30.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares of the company's stock, valued at $484,793.40. This represents a 67.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24% 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. 0.48% of the stock is owned by corporate insiders.

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.