Sora Investors LLC Invests $23.30 Million in First Solar, Inc. (NASDAQ:FSLR)

Sora Investors LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 132,191 shares of the solar cell manufacturer's stock, valued at approximately $23,297,000. First Solar accounts for about 2.6% of Sora Investors LLC's investment portfolio, making the stock its 11th biggest holding. Sora Investors LLC owned 0.12% of First Solar at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FSLR. Wealth Enhancement Advisory Services LLC raised its position in shares of First Solar by 20.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,104 shares of the solar cell manufacturer's stock worth $1,252,000 after purchasing an additional 1,192 shares during the period. Czech National Bank raised its position in shares of First Solar by 6.4% during the fourth quarter. Czech National Bank now owns 23,213 shares of the solar cell manufacturer's stock worth $4,091,000 after purchasing an additional 1,401 shares during the period. Assenagon Asset Management S.A. raised its position in shares of First Solar by 340.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 206,743 shares of the solar cell manufacturer's stock worth $36,436,000 after purchasing an additional 159,845 shares during the period. Mirador Capital Partners LP raised its position in shares of First Solar by 34.6% during the fourth quarter. Mirador Capital Partners LP now owns 2,275 shares of the solar cell manufacturer's stock worth $401,000 after purchasing an additional 585 shares during the period. Finally, Beech Hill Advisors Inc. raised its position in shares of First Solar by 2.6% during the fourth quarter. Beech Hill Advisors Inc. now owns 27,123 shares of the solar cell manufacturer's stock worth $4,780,000 after purchasing an additional 683 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of research analyst reports. Citigroup dropped their price target on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets dropped their target price on First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada dropped their target price on First Solar from $237.00 to $214.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Robert W. Baird dropped their target price on First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $224.48.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $186.18 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 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. The stock has a 50 day moving average of $134.18 and a 200-day moving average of $163.52. The company has a market capitalization of $19.97 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million during 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%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. As a group, equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This represents a 67.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares of the company's stock, valued at approximately $2,353,197.50. The trade was a 2.11% 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 in the last ninety days. 0.48% of the stock is owned by company insiders.

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.

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