Versor Investments LP Takes $1.04 Million Position in First Solar, Inc. $FSLR

Versor Investments LP bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,986 shares of the solar cell manufacturer’s stock, valued at approximately $1,041,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Joule Financial LLC purchased a new stake in First Solar during the third quarter worth approximately $950,000. Mirae Asset Global Investments Co. Ltd. grew its stake in First Solar by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock worth $17,015,000 after buying an additional 13,904 shares during the period. Belpointe Asset Management LLC purchased a new stake in First Solar during the third quarter worth approximately $1,193,000. National Pension Service grew its stake in First Solar by 24.1% during the third quarter. National Pension Service now owns 41,419 shares of the solar cell manufacturer’s stock worth $9,134,000 after buying an additional 8,036 shares during the period. Finally, Candriam S.C.A. grew its stake in First Solar by 70.2% during the third quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer’s stock worth $33,163,000 after buying an additional 62,048 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 7,738 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $1,516,106.34. Following the completion of the transaction, the chief executive officer owned 91,787 shares in the company, valued at $17,983,826.91. This represents a 7.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the completion of the transaction, the general counsel owned 9,850 shares of the company’s stock, valued at $1,966,257. This represents a 47.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 81,204 shares of company stock worth $16,043,186 over the last ninety days. Insiders own 0.39% of the company’s stock.

First Solar Stock Down 2.2%

Shares of NASDAQ:FSLR opened at $228.06 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. First Solar, Inc. has a 1-year low of $135.50 and a 1-year high of $285.99. The company’s fifty day moving average is $198.43 and its two-hundred day moving average is $231.42. The stock has a market capitalization of $24.51 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 0.52 and a beta of 1.57.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.95 EPS. Equities analysts anticipate that First Solar, Inc. will post 17.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FSLR. DZ Bank upgraded shares of First Solar to a “strong sell” rating in a research note on Thursday, February 26th. Citigroup decreased their price objective on shares of First Solar from $300.00 to $243.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Robert W. Baird reiterated a “neutral” rating and set a $205.00 price objective (down from $264.00) on shares of First Solar in a research note on Wednesday, February 25th. BMO Capital Markets decreased their target price on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. Finally, TD Cowen decreased their target price on shares of First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $246.10.

First Solar Company Profile

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.