Harmony Asset Management LLC Acquires Shares of 9,585 First Solar, Inc. $FSLR

Harmony Asset Management LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,585 shares of the solar cell manufacturer’s stock, valued at approximately $2,114,000.

A number of other hedge funds have also made changes to their positions in the stock. Woodline Partners LP increased its stake in shares of First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after buying an additional 2,615 shares during the last quarter. Truist Financial Corp increased its position in shares of First Solar by 8.2% in the 2nd quarter. Truist Financial Corp now owns 5,855 shares of the solar cell manufacturer’s stock worth $969,000 after purchasing an additional 443 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of First Solar in the 2nd quarter valued at about $237,000. Prime Capital Investment Advisors LLC lifted its position in shares of First Solar by 218.8% during the second quarter. Prime Capital Investment Advisors LLC now owns 18,278 shares of the solar cell manufacturer’s stock worth $3,026,000 after purchasing an additional 12,544 shares during the last quarter. Finally, Shell Asset Management Co. grew its stake in First Solar by 150.6% in the second quarter. Shell Asset Management Co. now owns 8,181 shares of the solar cell manufacturer’s stock worth $1,354,000 after purchasing an additional 4,916 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 0.4%

First Solar stock opened at $238.06 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. First Solar, Inc. has a one year low of $116.56 and a one year high of $285.99. The company has a 50-day simple moving average of $254.04 and a 200-day simple moving average of $231.21. The firm has a market capitalization of $25.55 billion, a P/E ratio of 18.28, a P/E/G ratio of 0.31 and a beta of 1.60.

Analyst Upgrades and Downgrades

FSLR has been the topic of several research reports. Wolfe Research upped their price objective on First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. DZ Bank cut First Solar from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Robert W. Baird boosted their target price on shares of First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. The Goldman Sachs Group reissued a “buy” rating and set a $316.00 target price on shares of First Solar in a report on Friday, October 31st. Finally, Daiwa Capital Markets lifted their price target on shares of 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 assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $275.94.

Insider Buying and Selling

In other First Solar news, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the sale, the director owned 15,287 shares in the company, valued at approximately $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

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.