Belpointe Asset Management LLC Takes $1.19 Million Position in First Solar, Inc. $FSLR

Belpointe Asset Management LLC bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,409 shares of the solar cell manufacturer’s stock, valued at approximately $1,193,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. TD Private Client Wealth LLC lifted its holdings in shares of First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock worth $25,000 after acquiring an additional 85 shares during the last quarter. Strategic Wealth Investment Group LLC bought a new position in First Solar in the second quarter valued at $26,000. Hantz Financial Services Inc. raised its position in First Solar by 69.4% during the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Total Investment Management Inc. bought a new stake in First Solar during the second quarter worth about $36,000. Finally, First Pacific Financial purchased a new position in shares of First Solar in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In related news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the sale, the director directly owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Georges Antoun sold 37,412 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the transaction, the insider owned 15,424 shares in the company, valued at approximately $4,087,514.24. This trade represents a 70.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,912 shares of company stock valued at $12,971,349 over the last 90 days. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. DZ Bank cut First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Wells Fargo & Company lifted their price target on shares of First Solar from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. KeyCorp reaffirmed an “overweight” rating on shares of First Solar in a research note on Friday, October 31st. Royal Bank Of Canada increased their target price on shares of First Solar from $244.00 to $258.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, Roth Mkm set a $300.00 target price on shares of First Solar in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $276.76.

First Solar Stock Performance

First Solar stock opened at $249.41 on Thursday. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $285.99. The stock’s 50 day simple moving average is $256.66 and its two-hundred day simple moving average is $229.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. The stock has a market cap of $26.76 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 0.30 and a beta of 1.60.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 27.73% and a return on equity of 16.61%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the business posted $2.91 EPS. First Solar’s revenue for the quarter was up 79.7% on a year-over-year basis. As a group, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.