AlphaQuest LLC Has $195,000 Stock Position in First Solar, Inc. (NASDAQ:FSLR)

AlphaQuest LLC raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 1,355.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,106 shares of the solar cell manufacturer’s stock after purchasing an additional 1,030 shares during the period. AlphaQuest LLC’s holdings in First Solar were worth $195,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FSLR. Clear Harbor Asset Management LLC grew its position in shares of First Solar by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares in the last quarter. Doliver Advisors LP lifted its holdings in shares of First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after acquiring an additional 56 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of First Solar by 5.3% during the 4th quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after acquiring an additional 73 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its stake in First Solar by 18.8% in the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock worth $84,000 after purchasing an additional 75 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the sale, the chief executive officer now owns 109,000 shares in the company, valued at $14,492,640. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, the insider now owns 4,695 shares in the company, valued at approximately $624,247.20. The trade was a 8.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,739 shares of company stock worth $4,289,403. 0.58% of the stock is currently owned by company insiders.

First Solar Price Performance

Shares of FSLR opened at $132.51 on Monday. The stock has a market cap of $14.19 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The firm’s 50-day simple moving average is $162.48 and its two-hundred day simple moving average is $191.07.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on FSLR shares. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research note on Thursday, February 27th. Royal Bank of Canada lowered their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Citigroup lowered their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

About First Solar

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.