First Solar, Inc. $FSLR Stock Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 37.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,792 shares of the solar cell manufacturer’s stock after selling 57,181 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in First Solar were worth $16,604,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FSLR. Toth Financial Advisory Corp bought a new position in shares of First Solar in the 3rd quarter worth about $32,000. Clearstead Trust LLC acquired a new position in shares of First Solar in the 2nd quarter valued at about $34,000. Vega Investment Solutions bought a new stake in shares of First Solar during the 2nd quarter valued at about $40,000. Rakuten Securities Inc. acquired a new stake in First Solar during the second quarter worth approximately $44,000. Finally, Allied Private Wealth LLC acquired a new stake in First Solar during the second quarter worth approximately $45,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FSLR. HSBC upgraded First Solar from a “hold” rating to a “buy” rating in a report on Friday, August 7th. Susquehanna raised their price objective on shares of First Solar from $250.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, July 10th. Barclays lowered their price objective on shares of First Solar from $279.00 to $259.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. Robert W. Baird lowered their price objective on shares of First Solar from $318.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, September 22nd. Finally, Piper Sandler dropped their target price on shares of First Solar from $260.00 to $251.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.73.

First Solar Stock Performance

Shares of First Solar stock opened at $171.25 on Friday. The stock has a market capitalization of $18.40 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.48 and a beta of 1.80. First Solar, Inc. has a 52 week low of $168.60 and a 52 week high of $320.95. The stock has a 50 day moving average price of $193.93 and a two-hundred day moving average price of $218.54.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm earned $3.18 earnings per share. First Solar’s revenue for the quarter was down 3.4% on a year-over-year basis. Research analysts forecast that First Solar, Inc. will post 17.63 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, General Counsel Jason Dymbort sold 3,700 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction of $922,706.00. Following the completion of the sale, the general counsel owned 5,624 shares in the company, valued at approximately $1,402,513.12. The trade was a 39.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 800 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total transaction of $139,200.00. Following the transaction, the chief technology officer owned 5,042 shares in the company, valued at approximately $877,308. The trade was a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 16,681 shares of company stock worth $3,756,286. 0.39% of the stock is owned by company insiders.

First Solar News Summary

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

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a positive analyst signal and potential support for the stock. The recommendation suggests the firm sees longer-term value in First Solar despite recent weakness. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether domestic solar-panel demand is strengthening ahead of the quarterly report. Strong U.S. demand could reinforce First Solar’s growth outlook and support its project pipeline. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is attracting unusually high investor attention, but the trend reflects interest rather than a specific new business development or confirmed catalyst. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion volatility. Should You Buy First Solar Stock for Its Cash?
• Negative Sentiment: JPMorgan reduced its price target for First Solar, signaling a less optimistic near-term view and adding pressure to the valuation narrative. First Solar Stock Price Target Cut by JPMorgan
• Negative Sentiment: Zacks said First Solar does not currently have the combination of factors it uses to identify a likely earnings beat. Although earnings are expected to grow, the warning raises the risk of disappointment when results are released. First Solar Earnings Expected to Grow

About First Solar

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.