Trellus Management Company LLC Acquires New Stake in First Solar, Inc. (FSLR)
Trellus Management Company LLC acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the solar cell manufacturer’s stock, valued at approximately $459,000.
Other large investors have also bought and sold shares of the company. Bank of Nova Scotia bought a new position in shares of First Solar during the 1st quarter valued at about $212,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of First Solar by 57.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock valued at $104,000 after purchasing an additional 950 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of First Solar during the 2nd quarter valued at about $128,000. NEXT Financial Group Inc boosted its position in shares of First Solar by 23.9% during the 2nd quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock valued at $201,000 after purchasing an additional 975 shares in the last quarter. Finally, Parsec Financial Management Inc. bought a new position in shares of First Solar during the 2nd quarter valued at about $204,000. Institutional investors own 53.07% of the company’s stock.
In other First Solar news, CEO Mark R. Widmar sold 43,189 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $48.55, for a total value of $2,096,825.95. Following the completion of the transaction, the chief executive officer now directly owns 107,454 shares in the company, valued at $5,216,891.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raffi Garabedian sold 5,800 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.83, for a total value of $289,014.00. Following the completion of the transaction, the insider now owns 11,474 shares of the company’s stock, valued at $571,749.42. The disclosure for this sale can be found here. Insiders sold 94,674 shares of company stock valued at $4,655,846 over the last quarter. Corporate insiders own 0.58% of the company’s stock.
Several research firms have recently weighed in on FSLR. Axiom Securities restated a “buy” rating on shares of First Solar in a research report on Thursday, August 10th. JMP Securities set a $67.00 price objective on shares of First Solar and gave the company a “buy” rating in a research report on Wednesday, August 16th. ValuEngine upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Vetr lowered shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 price objective for the company. in a research report on Wednesday, October 18th. Finally, BidaskClub lowered shares of First Solar from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $45.10.
Shares of First Solar, Inc. (NASDAQ:FSLR) traded up 2.89% during mid-day trading on Monday, reaching $49.11. The company’s stock had a trading volume of 971,979 shares. The company has a 50-day moving average of $47.65 and a 200-day moving average of $41.05. The firm’s market cap is $5.13 billion. First Solar, Inc. has a 12 month low of $25.56 and a 12 month high of $53.00.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, beating the consensus estimate of $0.04 by $0.60. The firm had revenue of $623.00 million during the quarter, compared to the consensus estimate of $591.55 million. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The business’s quarterly revenue was down 38.7% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. On average, analysts predict that First Solar, Inc. will post $2.21 earnings per share for the current year.
First Solar Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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