Clear Harbor Asset Management LLC Cuts Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Clear Harbor Asset Management LLC lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,155 shares of the solar cell manufacturer’s stock after selling 210 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in First Solar were worth $2,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management acquired a new stake in shares of First Solar during the 1st quarter valued at about $244,000. Atticus Wealth Management LLC grew its holdings in First Solar by 15.6% in the first quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock valued at $90,000 after purchasing an additional 72 shares during the period. SteelPeak Wealth LLC increased its position in shares of First Solar by 108.7% in the first quarter. SteelPeak Wealth LLC now owns 8,753 shares of the solar cell manufacturer’s stock valued at $1,478,000 after buying an additional 4,559 shares in the last quarter. Mirador Capital Partners LP acquired a new position in shares of First Solar during the 1st quarter worth approximately $310,000. Finally, Buffington Mohr McNeal lifted its position in shares of First Solar by 26.9% during the 1st quarter. Buffington Mohr McNeal now owns 3,959 shares of the solar cell manufacturer’s stock valued at $668,000 after buying an additional 840 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the topic of several research analyst reports. Roth Mkm dropped their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Oppenheimer boosted their price target on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Jefferies Financial Group decreased their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Finally, Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $288.46.

Insider Transactions at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at approximately $108,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 over the last ninety days. 0.58% of the stock is currently owned by company insiders.

First Solar Trading Up 1.2 %

Shares of FSLR stock opened at $198.47 on Friday. The company has a market capitalization of $21.25 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $224.06 and its two-hundred day moving average is $223.58. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $1.85 EPS. Equities analysts forecast that First Solar, Inc. will post 13.39 EPS for the current year.

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.