SCP Investment LP Has $1.44 Million Position in First Solar, Inc. $FSLR

SCP Investment LP lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 44.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,688 shares of the solar cell manufacturer’s stock after selling 7,000 shares during the period. First Solar accounts for 1.2% of SCP Investment LP’s portfolio, making the stock its 14th largest position. SCP Investment LP’s holdings in First Solar were worth $1,438,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its stake in shares of First Solar by 126.9% during the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock worth $25,000 after purchasing an additional 85 shares during the period. Harbor Investment Advisory LLC boosted its holdings in First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of First Solar by 69.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after buying an additional 75 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar during the 1st quarter worth about $25,000. Finally, First Pacific Financial acquired a new stake in shares of First Solar in the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insiders Place Their Bets

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the sale, the director directly owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 37,412 shares of First Solar stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the completion of the transaction, the insider directly owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. This trade represents a 70.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 48,912 shares of company stock valued at $12,971,349. 0.48% of the stock is currently owned by corporate insiders.

First Solar Price Performance

NASDAQ:FSLR opened at $272.21 on Thursday. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $281.55. The company has a market cap of $29.21 billion, a P/E ratio of 23.29, a P/E/G ratio of 0.46 and a beta of 1.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The stock’s 50-day simple moving average is $240.97 and its 200 day simple moving average is $199.72.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the business earned $2.91 earnings per share. The firm’s revenue for the quarter was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Glj Research upped their target price on shares of First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Friday, August 1st. UBS Group raised their price target on First Solar from $275.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. DZ Bank downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, Mizuho boosted their price objective on shares of First Solar from $278.00 to $335.00 in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.79.

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.