Sciencast Management LP acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,440 shares of the solar cell manufacturer’s stock, valued at approximately $651,000.
A number of other institutional investors have also recently bought and sold shares of FSLR. Meadow Creek Investment Management LLC grew its holdings in First Solar by 18.7% during the fourth quarter. Meadow Creek Investment Management LLC now owns 5,184 shares of the solar cell manufacturer’s stock valued at $350,000 after purchasing an additional 816 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of First Solar by 19.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,220 shares of the solar cell manufacturer’s stock worth $352,000 after acquiring an additional 837 shares during the period. Profund Advisors LLC boosted its stake in shares of First Solar by 7.7% in the fourth quarter. Profund Advisors LLC now owns 11,812 shares of the solar cell manufacturer’s stock worth $798,000 after acquiring an additional 848 shares during the period. Dubuque Bank & Trust Co. boosted its stake in shares of First Solar by 10.6% in the fourth quarter. Dubuque Bank & Trust Co. now owns 9,175 shares of the solar cell manufacturer’s stock worth $619,000 after acquiring an additional 882 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of First Solar by 5.9% in the fourth quarter. Amalgamated Bank now owns 16,461 shares of the solar cell manufacturer’s stock worth $1,111,000 after acquiring an additional 913 shares during the period. Institutional investors own 53.50% of the company’s stock.
In related news, CFO Alexander R. Bradley sold 4,325 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $68.12, for a total value of $294,619.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bryan Robert Schumaker sold 933 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $70.00, for a total value of $65,310.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,245 shares of company stock worth $3,699,010. Company insiders own 0.58% of the company’s stock.
FSLR has been the subject of a number of recent analyst reports. Standpoint Research raised First Solar from a “hold” rating to an “accumulate” rating and set a $84.00 price objective for the company in a research note on Wednesday, March 7th. Deutsche Bank increased their price target on First Solar from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Roth Capital set a $80.00 price target on First Solar and gave the company a “buy” rating in a research note on Monday, December 11th. ValuEngine lowered First Solar from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of First Solar in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $69.83.
Shares of First Solar, Inc. (NASDAQ FSLR) opened at $69.52 on Thursday. The company has a quick ratio of 5.63, a current ratio of 5.89 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $76.61. The firm has a market capitalization of $7,224.43, a P/E ratio of -43.45, a PEG ratio of 4.03 and a beta of 2.08.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.06. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. The firm had revenue of $339.00 million for the quarter, compared to the consensus estimate of $459.93 million. During the same period in the prior year, the business posted $1.24 earnings per share. The company’s revenue for the quarter was down 29.4% on a year-over-year basis. research analysts anticipate that First Solar, Inc. will post 1.67 EPS for the current year.
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About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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