Guinness Atkinson Asset Management Inc Cuts Stake in First Solar, Inc. (NASDAQ:FSLR)

Guinness Atkinson Asset Management Inc cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,376 shares of the solar cell manufacturer’s stock after selling 81 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in First Solar were worth $1,092,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Burford Brothers Inc. purchased a new stake in First Solar during the fourth quarter valued at about $3,539,000. Spouting Rock Asset Management LLC purchased a new stake in First Solar during the 4th quarter valued at about $579,000. Quarry LP grew its position in First Solar by 22.7% during the 4th quarter. Quarry LP now owns 1,319 shares of the solar cell manufacturer’s stock worth $227,000 after acquiring an additional 244 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new position in First Solar in the 4th quarter worth approximately $46,000. Finally, V Square Quantitative Management LLC lifted its position in First Solar by 31.4% in the fourth quarter. V Square Quantitative Management LLC now owns 1,590 shares of the solar cell manufacturer’s stock valued at $274,000 after purchasing an additional 380 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insider Transactions at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Patrick James Buehler sold 8,619 shares of the company’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 in the company, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FSLR. UBS Group upped their price target on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Truist Financial assumed coverage on First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Susquehanna upped their price target on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday, July 3rd. Finally, Clarkson Capital started coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $285.44.

First Solar Price Performance

FSLR traded up $6.45 on Friday, hitting $211.49. 3,038,178 shares of the company’s stock traded hands, compared to its average volume of 2,381,552. The company’s 50 day simple moving average is $227.56 and its 200-day simple moving average is $221.11. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The firm has a market cap of $22.64 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same quarter last year, the business posted $1.85 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, research analysts anticipate that First Solar, Inc. will post 13.53 EPS for the current year.

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.