Point72 Europe London LLP Has $6.89 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Point72 Europe London LLP boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 148.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,085 shares of the solar cell manufacturer’s stock after buying an additional 23,346 shares during the quarter. Point72 Europe London LLP’s holdings in First Solar were worth $6,888,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Whalen Wealth Management Inc. boosted its stake in First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after acquiring an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after buying an additional 34,074 shares during the last quarter. Paragon Capital Management Inc. acquired a new position in shares of First Solar during the 4th quarter worth about $1,240,000. Robeco Institutional Asset Management B.V. increased its stake in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after acquiring an additional 49,074 shares during the last quarter. Finally, Golden State Equity Partners boosted its stake in First Solar by 41,342.9% during the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock worth $511,000 after acquiring an additional 2,894 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. The trade was a 67.81% 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, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,311 shares of company stock valued at $4,767,158. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FSLR shares. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. TD Cowen decreased their target price on First Solar from $275.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Citigroup dropped their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley set a $223.00 price objective on First Solar and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Finally, StockNews.com downgraded shares of First Solar from a “hold” rating to a “sell” rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.48.

First Solar Trading Up 0.7%

NASDAQ:FSLR opened at $192.98 on Thursday. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. 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 business has a fifty day moving average price of $133.12 and a 200-day moving average price of $163.65. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last released 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. During the same quarter last year, the firm posted $2.20 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Sell-side analysts forecast 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.