Koshinski Asset Management Inc. Invests $426,000 in First Solar, Inc. (NASDAQ:FSLR)

Koshinski Asset Management Inc. purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 2,521 shares of the solar cell manufacturer’s stock, valued at approximately $426,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar during the 1st quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in First Solar during the 4th quarter valued at approximately $27,000. Baystate Wealth Management LLC bought a new position in shares of First Solar during the 4th quarter worth about $29,000. Riverview Trust Co bought a new position in First Solar during the first quarter worth about $32,000. Finally, Rakuten Securities Inc. bought a new stake in First Solar during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In related news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, insider Caroline Stockdale sold 12,406 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total value of $2,543,230.00. Following the sale, the insider now owns 22,025 shares of the company’s stock, valued at $4,515,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,153 shares of company stock valued at $12,540,428. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

Shares of NASDAQ FSLR traded up $2.82 during trading on Thursday, reaching $210.99. 1,458,561 shares of the company traded hands, compared to its average volume of 2,516,839. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The firm’s fifty day simple moving average is $243.38 and its 200 day simple moving average is $190.37. The stock has a market cap of $22.58 billion, a P/E ratio of 22.60, a PEG ratio of 0.29 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 13.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FSLR shares. Guggenheim dropped their price target on First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $187.00 to $250.00 in a research report on Friday, April 19th. Piper Sandler raised their target price on shares of First Solar from $195.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Mizuho reiterated a “neutral” rating and set a $274.00 price objective (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Finally, DZ Bank downgraded First Solar from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $272.72.

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.