Green Square Capital LLC bought a new position in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,061 shares of the solar cell manufacturer’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vident Investment Advisory LLC bought a new position in First Solar during the third quarter valued at about $2,720,000. Janus Henderson Group PLC purchased a new stake in shares of First Solar in the third quarter worth about $1,519,000. Wells Fargo & Company MN lifted its holdings in shares of First Solar by 307.0% in the third quarter. Wells Fargo & Company MN now owns 111,843 shares of the solar cell manufacturer’s stock worth $5,132,000 after buying an additional 165,863 shares in the last quarter. American International Group Inc. lifted its holdings in shares of First Solar by 4.1% in the third quarter. American International Group Inc. now owns 166,620 shares of the solar cell manufacturer’s stock worth $7,645,000 after buying an additional 6,610 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of First Solar by 4.1% in the third quarter. Ameriprise Financial Inc. now owns 279,265 shares of the solar cell manufacturer’s stock worth $12,814,000 after buying an additional 10,883 shares in the last quarter. Hedge funds and other institutional investors own 53.35% of the company’s stock.
A number of equities research analysts recently weighed in on FSLR shares. Zacks Investment Research downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. BidaskClub upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. ValuEngine cut shares of First Solar from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of First Solar in a research report on Friday, December 1st. Finally, Bank of America restated a “neutral” rating and issued a $70.00 target price on shares of First Solar in a report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $70.53.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.06. The company had revenue of $339.00 million for the quarter, compared to analysts’ expectations of $459.93 million. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. The firm’s revenue was down 29.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 EPS. analysts anticipate that First Solar, Inc. will post 1.67 earnings per share for the current year.
In other news, insider Bryan Robert Schumaker sold 933 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $65,310.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Alexander R. Bradley sold 4,325 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $68.12, for a total value of $294,619.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,761 shares of company stock worth $3,042,103 over the last ninety days. Insiders own 0.58% of the company’s stock.
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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