First Solar, Inc. $FSLR Shares Sold by Maxi Investments CY Ltd

Maxi Investments CY Ltd lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 83.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,950 shares of the solar cell manufacturer’s stock after selling 55,700 shares during the quarter. Maxi Investments CY Ltd’s holdings in First Solar were worth $2,415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FSLR. Strategic Wealth Investment Group LLC purchased a new stake in shares of First Solar in the 2nd quarter worth about $26,000. Total Investment Management Inc. purchased a new position in First Solar during the 2nd quarter valued at about $36,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in First Solar during the 3rd quarter valued at about $44,000. CYBER HORNET ETFs LLC acquired a new position in First Solar during the second quarter worth about $47,000. Finally, NBT Bank N A NY raised its position in First Solar by 550.0% during the third quarter. NBT Bank N A NY now owns 221 shares of the solar cell manufacturer’s stock worth $49,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $199.48 on Tuesday. The company has a 50-day simple moving average of $225.79 and a 200-day simple moving average of $236.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.35. The company has a market cap of $21.41 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.32 and a beta of 1.65. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $285.99.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the company posted $3.65 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on FSLR shares. Evercore lowered their price target on shares of First Solar from $241.00 to $212.00 in a research report on Thursday, March 5th. Weiss Ratings restated a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. Robert W. Baird reaffirmed a “neutral” rating and issued a $205.00 target price (down from $264.00) on shares of First Solar in a research note on Wednesday, February 25th. Barclays lowered their target price on First Solar from $279.00 to $228.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Finally, Wolfe Research downgraded First Solar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.65.

Insider Buying and Selling

In other news, CTO Markus Gloeckler sold 3,640 shares of First Solar stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $196.95, for a total value of $716,898.00. Following the completion of the sale, the chief technology officer owned 8,037 shares of the company’s stock, valued at $1,582,887.15. The trade was a 31.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 3,426 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $671,256.18. Following the completion of the transaction, the insider owned 8,334 shares of the company’s stock, valued at $1,632,880.62. The trade was a 29.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 47,761 shares of company stock worth $9,276,424 in the last three months. 0.48% of the stock is currently owned by insiders.

First Solar Profile

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.