B. Riley Financial Inc. Acquires New Holdings in First Solar, Inc. (FSLR)

B. Riley Financial Inc. bought a new position in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,773 shares of the solar cell manufacturer’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FSLR. Engineers Gate Manager LP acquired a new position in shares of First Solar during the third quarter valued at approximately $572,000. Stifel Financial Corp increased its stake in shares of First Solar by 31.5% during the third quarter. Stifel Financial Corp now owns 114,326 shares of the solar cell manufacturer’s stock valued at $5,245,000 after acquiring an additional 27,417 shares during the period. Precocity Capital LP acquired a new position in First Solar in the third quarter worth approximately $4,588,000. Schwab Charles Investment Management Inc. grew its position in First Solar by 12.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 292,393 shares of the solar cell manufacturer’s stock worth $13,415,000 after buying an additional 33,052 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its position in First Solar by 37.4% in the third quarter. Commonwealth Bank of Australia now owns 25,702 shares of the solar cell manufacturer’s stock worth $1,176,000 after buying an additional 7,000 shares during the last quarter. 50.87% of the stock is currently owned by institutional investors.

In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $64.40, for a total value of $1,305,388.00. Following the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Raffi Garabedian sold 11,284 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $70.06, for a total transaction of $790,557.04. Following the completion of the transaction, the insider now owns 9,227 shares in the company, valued at $646,443.62. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Several research analysts have issued reports on FSLR shares. Vetr upgraded shares of First Solar from a “sell” rating to a “hold” rating and set a $66.50 price target on the stock in a research report on Thursday, December 14th. Zacks Investment Research cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 13th. Deutsche Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $65.00 in a research report on Friday, September 15th. Cowen reissued a “buy” rating and set a $57.00 target price on shares of First Solar in a research note on Sunday, September 3rd. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $65.00 target price (up previously from $50.00) on shares of First Solar in a research note on Thursday, November 30th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $63.64.

First Solar, Inc. (NASDAQ:FSLR) traded down $0.83 during trading hours on Friday, hitting $67.52. 1,499,589 shares of the stock traded hands, compared to its average volume of 2,277,752. The company has a market cap of $7,138.00, a P/E ratio of -15.42 and a beta of 2.03. First Solar, Inc. has a one year low of $25.56 and a one year high of $71.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $1.11. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm’s revenue for the quarter was up 59.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share. research analysts forecast that First Solar, Inc. will post 2.52 EPS for the current fiscal year.

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First Solar Company 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.

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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