FORA Capital LLC Acquires Shares of 3,369 First Solar, Inc. (NASDAQ:FSLR)

FORA Capital LLC bought a new position in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,369 shares of the solar cell manufacturer’s stock, valued at approximately $594,000.

Other institutional investors have also recently modified their holdings of the company. Clear Harbor Asset Management LLC grew its position in First Solar by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the last quarter. Independent Advisor Alliance lifted its position in First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after acquiring an additional 63 shares in the last quarter. Huntington National Bank increased its holdings in shares of First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock worth $90,000 after purchasing an additional 68 shares in the last quarter. Finally, Evexia Wealth LLC raised its stake in shares of First Solar by 2.1% in the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer’s stock worth $586,000 after purchasing an additional 70 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of First Solar stock opened at $140.74 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $306.77. The stock has a 50 day moving average of $130.33 and a 200 day moving average of $163.97. The firm has a market cap of $15.09 billion, a PE ratio of 12.12, a PEG ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $2.20 earnings per share. On average, research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock valued at $4,767,158. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FSLR shares. The Goldman Sachs Group reduced their price objective on First Solar from $235.00 to $204.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Glj Research raised shares of First Solar from a “hold” rating to a “buy” rating and set a $172.37 price objective for the company in a report on Thursday, May 1st. KeyCorp cut shares of First Solar from a “sector weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a report on Wednesday, April 30th. Royal Bank of Canada lowered their price target on First Solar from $237.00 to $214.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Piper Sandler cut their price objective on First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $223.87.

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.