Hartree Partners LP Lowers Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Hartree Partners LP cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,800 shares of the solar cell manufacturer’s stock after selling 2,800 shares during the quarter. Hartree Partners LP’s holdings in First Solar were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings 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 worth $39,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC increased its position in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust purchased a new position in First Solar during the fourth quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the 4th quarter valued at $53,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of First Solar during the 4th quarter valued at $54,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Georges Antoun sold 229 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company’s stock, valued at $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Guggenheim reduced their target price on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research note on Thursday, February 27th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Redburn Atlantic started coverage on shares of First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Up 0.6 %

FSLR stock opened at $127.32 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a fifty day moving average price of $150.28 and a two-hundred day moving average price of $185.17. First Solar, Inc. has a 1-year low of $124.32 and a 1-year high of $306.77. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Research analysts predict that First Solar, Inc. will post 13.05 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.