New Age Alpha Advisors LLC Takes Position in First Solar, Inc. (NASDAQ:FSLR)

New Age Alpha Advisors LLC acquired a new position in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, Holdings Channel.com reports. The firm acquired 3,027 shares of the solar cell manufacturer’s stock, valued at approximately $533,000.

Several other institutional investors have also recently made changes to their positions in the business. Clear Harbor Asset Management LLC increased its stake in shares of First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after purchasing an additional 55 shares in the last quarter. Doliver Advisors LP boosted its holdings in First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after buying an additional 56 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after acquiring an additional 63 shares during the last quarter. Finally, Mutual Advisors LLC lifted its position in shares of First Solar by 5.3% in the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $279,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 0.7 %

Shares of NASDAQ FSLR opened at $126.43 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $13.54 billion, a PE ratio of 10.89, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a twelve month low of $120.60 and a twelve month high of $306.77. The stock has a fifty day simple moving average of $148.95 and a 200-day simple moving average of $184.01.

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

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares in the company, valued at approximately $14,965,287.50. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Georges Antoun sold 229 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the sale, the insider now owns 52,836 shares in the company, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial reissued a “buy” rating and issued a $285.00 price objective (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Piper Sandler reduced their target price on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. UBS Group lowered their price target on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company cut their price objective 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. Finally, Citigroup lowered their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $262.08.

First Solar Profile

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.