Two Sigma Securities LLC bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,060 shares of the solar cell manufacturer’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Davis & CO. Inc. bought a new position in shares of First Solar during the 4th quarter worth approximately $101,000. NuWave Investment Management LLC bought a new position in shares of First Solar during the 4th quarter worth approximately $162,000. Cigna Investments Inc. New bought a new position in shares of First Solar during the 4th quarter worth approximately $201,000. WealthTrust Fairport LLC bought a new position in shares of First Solar during the 4th quarter worth approximately $203,000. Finally, Eagle Ridge Investment Management bought a new position in shares of First Solar during the 4th quarter worth approximately $204,000. Institutional investors own 53.35% of the company’s stock.
In other First Solar news, EVP Paul J. Kaleta sold 1,605 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $70.10, for a total value of $112,510.50. Following the completion of the transaction, the executive vice president now owns 5,814 shares of the company’s stock, valued at approximately $407,561.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director George A. Hambro bought 3,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was purchased at an average cost of $62.66 per share, with a total value of $187,980.00. Following the acquisition, the director now owns 21,934 shares in the company, valued at $1,374,384.44. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 43,961 shares of company stock valued at $2,908,453. Insiders own 0.58% of the company’s stock.
First Solar stock opened at $69.87 on Monday. The company has a current ratio of 5.89, a quick ratio of 5.63 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $76.61. The company has a market capitalization of $7,299.65, a price-to-earnings ratio of 26.98, a PEG ratio of 4.07 and a beta of 2.08.
First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. The business had revenue of $339.00 million during the quarter, compared to analysts’ expectations of $459.93 million. During the same quarter in the prior year, the firm earned $1.24 EPS. The business’s revenue for the quarter was down 29.4% compared to the same quarter last year. research analysts expect that First Solar, Inc. will post 1.67 earnings per share for the current fiscal year.
Several analysts recently issued reports on FSLR shares. Standpoint Research upgraded First Solar from a “hold” rating to an “accumulate” rating and set a $84.00 price target for the company in a research note on Wednesday, March 7th. Deutsche Bank boosted their price target on First Solar from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Roth Capital set a $80.00 price target on First Solar and gave the company a “buy” rating in a research note on Monday, December 11th. ValuEngine downgraded First Solar from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of First Solar in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. First Solar presently has a consensus rating of “Buy” and an average price target of $70.53.
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First Solar Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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