Proficio Capital Partners LLC Buys Shares of 49,171 First Solar, Inc. (NASDAQ:FSLR)

Proficio Capital Partners LLC bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 49,171 shares of the solar cell manufacturer’s stock, valued at approximately $8,666,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strengthening Families & Communities LLC bought a new stake in shares of First Solar during the 3rd quarter valued at $25,000. Larson Financial Group LLC raised its position in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the last quarter. Smartleaf Asset Management LLC raised its position 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 valued at $47,000 after acquiring an additional 63 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar in the 4th quarter valued at $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar in the 4th quarter valued at $53,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on FSLR shares. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Guggenheim lowered their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Piper Sandler lowered their price objective on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, Robert W. Baird lowered their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Trading Down 0.2 %

Shares of NASDAQ:FSLR opened at $132.51 on Friday. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The company has a market capitalization of $14.19 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a 50-day simple moving average of $162.48 and a 200 day simple moving average of $191.33. 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 (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of the firm’s 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 transaction, the chief executive officer now directly owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. This trade represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares in the company, valued at $624,247.20. This represents a 8.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,739 shares of company stock valued at $4,289,403 in the last three months. 0.58% of the stock is currently owned by company insiders.

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.