Xponance Inc. Acquires 1,747 Shares of First Solar, Inc. (NASDAQ:FSLR)

Xponance Inc. raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,990 shares of the solar cell manufacturer’s stock after acquiring an additional 1,747 shares during the period. Xponance Inc.’s holdings in First Solar were worth $2,994,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Larson Financial Group LLC boosted its holdings in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares during the period. Crews Bank & Trust purchased a new position in shares of First Solar in the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar in the fourth quarter worth $53,000. Finally, Financial Avengers Inc. bought a new position in First Solar in the third quarter valued at about $77,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 1,272 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the sale, the chief executive officer now directly owns 109,000 shares of the company’s stock, valued at $14,492,640. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last three months. 0.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FSLR shares. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Truist Financial reiterated a “buy” rating and set a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Redburn Atlantic initiated coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $131.32 on Friday. The firm has a fifty day simple moving average of $156.26 and a two-hundred day simple moving average of $188.22. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $14.06 billion, a P/E ratio of 11.31, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.