Slow Capital Inc. purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,745 shares of the solar cell manufacturer’s stock, valued at approximately $522,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Davis & CO. Inc. acquired a new position in First Solar in the fourth quarter valued at approximately $101,000. NuWave Investment Management LLC acquired a new position in First Solar in the fourth quarter valued at approximately $162,000. Cigna Investments Inc. New acquired a new position in First Solar in the fourth quarter valued at approximately $201,000. WealthTrust Fairport LLC acquired a new position in First Solar in the fourth quarter valued at approximately $203,000. Finally, Eagle Ridge Investment Management acquired a new position in First Solar in the fourth quarter valued at approximately $204,000. 53.35% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Mark R. Widmar sold 20,574 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $63.90, for a total transaction of $1,314,678.60. Following the completion of the sale, the chief executive officer now owns 78,634 shares in the company, valued at $5,024,712.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Philip Dejong sold 15,304 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $67.83, for a total value of $1,038,070.32. Following the sale, the chief operating officer now owns 10,424 shares of the company’s stock, valued at approximately $707,059.92. The disclosure for this sale can be found here. Insiders have sold 43,961 shares of company stock valued at $2,908,453 in the last 90 days. Company insiders own 0.58% of the company’s stock.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. The business had revenue of $339.00 million during the quarter, compared to analysts’ expectations of $459.93 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. The company’s quarterly revenue was down 29.4% compared to the same quarter last year. equities research analysts expect that First Solar, Inc. will post 1.67 EPS for the current year.
A number of equities analysts recently issued reports on the company. UBS assumed coverage on First Solar in a report on Thursday, March 15th. They issued a “buy” rating and a $81.00 price target for the company. BidaskClub raised First Solar from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. Standpoint Research raised First Solar from a “hold” rating to an “accumulate” rating and set a $84.00 price target for the company in a report on Wednesday, March 7th. Deutsche Bank set a $75.00 price target on First Solar and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Miller Tabak downgraded First Solar from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. First Solar has a consensus rating of “Buy” and an average target price of $70.53.
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About First Solar
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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