Steele Capital Management Inc. Purchases Shares of 3,340 First Solar, Inc. (NASDAQ:FSLR)

Steele Capital Management Inc. purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,340 shares of the solar cell manufacturer’s stock, valued at approximately $575,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Clean Energy Transition LLP raised its holdings in shares of First Solar by 948.8% during the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after buying an additional 1,073,500 shares in the last quarter. Barclays PLC raised its holdings in shares of First Solar by 125.5% during the 3rd quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer’s stock valued at $137,130,000 after buying an additional 472,327 shares in the last quarter. Covalis Capital LLP raised its holdings in shares of First Solar by 615.6% during the 3rd quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer’s stock valued at $65,931,000 after buying an additional 350,996 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of First Solar by 504.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after buying an additional 333,496 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after buying an additional 279,424 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 1.2 %

NASDAQ:FSLR traded up $2.10 during trading hours on Monday, reaching $180.83. 1,305,453 shares of the company traded hands, compared to its average volume of 2,067,255. The business’s 50-day moving average price is $163.87 and its two-hundred day moving average price is $157.50. The stock has a market capitalization of $19.36 billion, a P/E ratio of 23.36, a P/E/G ratio of 0.31 and a beta of 1.41. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $232.00. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Analysts predict that First Solar, Inc. will post 13.55 earnings per share for the current year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock worth $4,269,540 over the last quarter. 0.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research reports. Roth Mkm reissued a “buy” rating and set a $230.00 price objective on shares of First Solar in a report on Thursday, April 18th. Bank of America raised their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Janney Montgomery Scott started coverage on First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 price target on the stock. DZ Bank started coverage on First Solar in a research report on Wednesday, April 17th. They set a “buy” rating and a $205.00 price target on the stock. Finally, Barclays raised their price target on First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $233.92.

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.