Family Firm Inc. acquired a new stake in First Solar, Inc. (NASDAQ:FSLR – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 576 shares of the solar cell manufacturer’s stock, valued at approximately $130,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar during the 1st quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the fourth quarter worth $27,000. Riverview Trust Co bought a new position in shares of First Solar in the 1st quarter valued at $32,000. USCF Advisers LLC boosted its holdings in shares of First Solar by 100.0% during the 4th quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Finally, Mather Group LLC. grew its position in First Solar by 321.2% during the 2nd quarter. Mather Group LLC. now owns 219 shares of the solar cell manufacturer’s stock worth $49,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.
First Solar Stock Up 5.9 %
Shares of NASDAQ FSLR traded up $12.81 during midday trading on Friday, hitting $231.07. 1,274,326 shares of the stock traded hands, compared to its average volume of 2,450,218. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.23. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The business has a 50 day moving average price of $227.57 and a two-hundred day moving average price of $202.15. The company has a market cap of $24.73 billion, a PE ratio of 24.22, a P/E/G ratio of 0.37 and a beta of 1.44.
Insider Activity at First Solar
In related news, insider Michael Koralewski sold 4,646 shares of First Solar stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $272.92, for a total transaction of $1,267,986.32. Following the transaction, the insider now owns 7,766 shares of the company’s stock, valued at $2,119,496.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Michael Koralewski sold 4,646 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $272.92, for a total transaction of $1,267,986.32. Following the transaction, the insider now directly owns 7,766 shares of the company’s stock, valued at $2,119,496.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,203 shares of company stock valued at $9,598,253. 0.58% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
FSLR has been the topic of a number of recent research reports. Guggenheim cut their price target on First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group lifted their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $315.00 price target on shares of First Solar in a report on Wednesday, July 31st. Finally, BMO Capital Markets decreased their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $275.36.
View Our Latest Research Report on FSLR
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.
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