Quarry LP Boosts Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Quarry LP lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 117.1% in the second quarter, HoldingsChannel reports. The firm owned 9,447 shares of the solar cell manufacturer’s stock after acquiring an additional 5,095 shares during the period. Quarry LP’s holdings in First Solar were worth $2,130,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FSLR. Vanguard Group Inc. raised its stake in shares of First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after purchasing an additional 105,236 shares during the period. Electron Capital Partners LLC increased its holdings in shares of 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 valued at $1,729,223,000 after acquiring an additional 7,660,409 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of First Solar by 11.1% in 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 buying an additional 279,719 shares during the last quarter. Schroder Investment Management Group boosted its stake in First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after acquiring an additional 351,540 shares during the period. Finally, Northern Trust Corp raised its position in shares of First Solar by 1.7% during the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock worth $175,816,000 after purchasing an additional 16,756 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FSLR shares. Robert W. Baird cut their target price on First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Janney Montgomery Scott lowered First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Piper Sandler increased their price target on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research note on Wednesday, July 31st. Finally, Barclays boosted their price target on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $284.12.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,885 shares of company stock valued at $2,405,757. Insiders own 0.58% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $255.75 on Monday. The business’s 50-day simple moving average is $225.51 and its 200-day simple moving average is $216.60. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The firm has a market cap of $27.38 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 0.42 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.85 earnings per share. As a group, equities research analysts expect that First Solar, Inc. will post 13.62 earnings per share for the current fiscal year.

First Solar 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.