First Solar, Inc. (NASDAQ:FSLR) Shares Sold by ABLE Financial Group LLC

ABLE Financial Group LLC lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 8.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,193 shares of the solar cell manufacturer’s stock after selling 113 shares during the period. ABLE Financial Group LLC’s holdings in First Solar were worth $298,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FSLR. Electron Capital Partners LLC increased its holdings in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after purchasing an additional 516,783 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares during the last quarter. Anomaly Capital Management LP acquired a new stake in First Solar in the 2nd quarter worth about $53,752,000. Finally, International Assets Investment Management LLC increased its stake in First Solar by 24,844.0% during the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after buying an additional 216,640 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Solar

In related news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Mizuho dropped their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Seaport Res Ptn raised shares of First Solar to a “hold” rating in a research note on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Piper Sandler lowered their price objective on First Solar from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $281.13.

First Solar Price Performance

Shares of FSLR traded down $8.24 during mid-day trading on Friday, reaching $188.46. 1,033,237 shares of the company’s stock were exchanged, compared to its average volume of 2,501,138. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $219.65 and a two-hundred day simple moving average of $224.75. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.37 and a beta of 1.48. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $2.50 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.12 EPS for the current fiscal year.

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.