17,320 Shares in First Solar, Inc. $FSLR Bought by Genus Capital Management Inc.

Genus Capital Management Inc. bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel.com reports. The firm bought 17,320 shares of the solar cell manufacturer’s stock, valued at approximately $4,525,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Linden Thomas Advisory Services LLC increased its stake in shares of First Solar by 1.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after purchasing an additional 39 shares during the period. Apollon Wealth Management LLC increased its stake in shares of First Solar by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock worth $942,000 after purchasing an additional 44 shares during the period. Burford Brothers Inc. increased its stake in shares of First Solar by 0.3% in the fourth quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock worth $4,984,000 after purchasing an additional 48 shares during the period. Cromwell Holdings LLC increased its stake in shares of First Solar by 15.8% in the fourth quarter. Cromwell Holdings LLC now owns 367 shares of the solar cell manufacturer’s stock worth $96,000 after purchasing an additional 50 shares during the period. Finally, Rathbones Group PLC increased its stake in shares of First Solar by 1.0% in the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock worth $1,087,000 after purchasing an additional 51 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FSLR shares. Citigroup dropped their price objective on First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price objective on First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. BMO Capital Markets dropped their price objective on First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. UBS Group dropped their price objective on First Solar from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $247.40.

Trending Headlines about First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
• Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener

Insiders Place Their Bets

In related news, insider Michael Koralewski sold 215 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $46,360.45. Following the sale, the insider owned 14,642 shares of the company’s stock, valued at $3,157,254.46. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexander R. Bradley sold 498 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the sale, the chief financial officer directly owned 30,712 shares in the company, valued at approximately $6,622,428.56. The trade was a 1.60% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 97,827 shares of company stock valued at $20,006,930 over the last 90 days. Company insiders own 0.39% of the company’s stock.

First Solar Stock Performance

NASDAQ FSLR opened at $257.85 on Monday. The stock has a market cap of $27.71 billion, a P/E ratio of 16.66, a PEG ratio of 0.57 and a beta of 1.57. The company’s 50-day simple moving average is $205.04 and its 200 day simple moving average is $230.96. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $285.99. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. As a group, research analysts forecast that First Solar, Inc. will post 17.64 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.