Joule Financial LLC Purchases New Position in First Solar, Inc. $FSLR

Joule Financial LLC acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,309 shares of the solar cell manufacturer’s stock, valued at approximately $950,000.

Several other large investors also recently added to or reduced their stakes in the business. Woodline Partners LP raised its holdings in shares of First Solar by 40.7% during the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after purchasing an additional 2,615 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. Signaturefd LLC lifted its holdings in First Solar by 86.0% in the 2nd quarter. Signaturefd LLC now owns 1,832 shares of the solar cell manufacturer’s stock worth $303,000 after purchasing an additional 847 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in First Solar by 42.4% in the 2nd quarter. Sound Income Strategies LLC now owns 336 shares of the solar cell manufacturer’s stock worth $56,000 after purchasing an additional 100 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in First Solar by 5.9% during the second quarter. V Square Quantitative Management LLC now owns 3,377 shares of the solar cell manufacturer’s stock worth $559,000 after purchasing an additional 187 shares during the period. 92.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the transaction, the director owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the transaction, the director owned 15,287 shares of the company’s stock, valued at approximately $4,011,308.80. This represents a 31.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,912 shares of company stock worth $12,971,349 over the last 90 days. Corporate insiders own 0.48% of the company’s stock.

First Solar Trading Up 6.1%

Shares of FSLR opened at $249.41 on Thursday. The stock’s 50-day moving average price is $256.66 and its 200 day moving average price is $229.06. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $285.99. The firm has a market capitalization of $26.76 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 0.30 and a beta of 1.60.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.First Solar’s revenue for the quarter was up 79.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.91 EPS. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FSLR shares. TD Cowen lifted their price target on shares of First Solar from $260.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a report on Monday, December 29th. Royal Bank Of Canada upped their price target on shares of First Solar from $244.00 to $258.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Raymond James Financial initiated coverage on First Solar in a research note on Monday, January 12th. They issued a “market perform” rating on the stock. Finally, BMO Capital Markets set a $263.00 target price on First Solar in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $275.94.

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.