First Solar, Inc. $FSLR Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 47.7% during the third quarter, Holdings Channel reports. The fund owned 22,263 shares of the solar cell manufacturer’s stock after selling 20,331 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in First Solar were worth $4,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SFE Investment Counsel increased its position in First Solar by 9.1% during the second quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock worth $11,556,000 after buying an additional 5,852 shares during the period. Joule Financial LLC purchased a new position in shares of First Solar during the third quarter worth approximately $950,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of First Solar by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock worth $17,015,000 after acquiring an additional 13,904 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of First Solar in the 2nd quarter valued at $1,323,000. Finally, State Street Corp raised its position in First Solar by 2.1% in the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after purchasing an additional 111,927 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In related news, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the transaction, the director owned 15,287 shares of the company’s stock, valued at $4,011,308.80. This represents a 31.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FSLR has been the topic of several research reports. DZ Bank downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Raymond James Financial started coverage on First Solar in a report on Monday, January 12th. They set a “market perform” rating on the stock. Citigroup upped their price objective on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Bank of America decreased their price objective on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Finally, Daiwa Capital Markets boosted their target price on First Solar from $215.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.94.

First Solar Price Performance

Shares of FSLR opened at $238.06 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $254.04 and its two-hundred day moving average is $231.21. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $285.99. The firm has a market capitalization of $25.55 billion, a PE ratio of 18.28, a P/E/G ratio of 0.31 and a beta of 1.60.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.