Ninepoint Partners LP Purchases New Holdings in First Solar, Inc. (NASDAQ:FSLR)

Ninepoint Partners LP purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 6,125 shares of the solar cell manufacturer’s stock, valued at approximately $1,055,000.

Other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in First Solar by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock valued at $94,419,000 after acquiring an additional 20,946 shares during the period. Assenagon Asset Management S.A. lifted its position in First Solar by 504.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after acquiring an additional 333,496 shares during the period. Sora Investors LLC lifted its position in First Solar by 63.6% during the 3rd quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock valued at $14,543,000 after acquiring an additional 35,000 shares during the period. Vanguard Group Inc. lifted its position in First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after acquiring an additional 279,424 shares during the period. Finally, Bull Oak Capital LLC lifted its position in First Solar by 304,592.2% during the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after acquiring an additional 155,342 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FSLR. Roth Mkm reaffirmed a “buy” rating and issued a $230.00 target price on shares of First Solar in a report on Thursday. Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $187.00 to $250.00 in a report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $269.00 target price on shares of First Solar in a report on Wednesday. Susquehanna reaffirmed a “positive” rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Finally, DZ Bank began coverage on shares of First Solar in a report on Wednesday. They issued a “buy” rating and a $205.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.68.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other First Solar news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total transaction of $338,975.00. Following the completion of the transaction, the chief technology officer now owns 12,536 shares of the company’s stock, valued at $2,193,800. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 over the last three months. 0.58% of the stock is currently owned by company insiders.

First Solar Stock Performance

NASDAQ FSLR traded up $3.68 during trading hours on Friday, hitting $177.97. 1,288,322 shares of the company’s stock traded hands, compared to its average volume of 2,066,546. The business’s fifty day moving average price is $160.86 and its two-hundred day moving average price is $156.05. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $19.05 billion, a P/E ratio of 22.72, a P/E/G ratio of 0.31 and a beta of 1.41. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) earnings per share. Equities research analysts predict that First Solar, Inc. will post 13.55 EPS for the current year.

First Solar Company 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.