Exchange Traded Concepts LLC Has $443,000 Stake in First Solar, Inc. (NASDAQ:FSLR)

Exchange Traded Concepts LLC boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 429.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,775 shares of the solar cell manufacturer’s stock after acquiring an additional 1,440 shares during the period. Exchange Traded Concepts LLC’s holdings in First Solar were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FSLR. Atlas Capital Advisors LLC raised its position in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar in the 1st quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in First Solar during the second quarter worth approximately $36,000. Itau Unibanco Holding S.A. bought a new stake in shares of First Solar during the second quarter worth approximately $38,000. Finally, Riverview Trust Co acquired a new position in shares of First Solar in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated 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 transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was 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. Over 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 Trading Down 1.4 %

NASDAQ FSLR opened at $200.55 on Friday. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $226.97 and its 200 day moving average is $222.82.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the previous year, the business posted $1.85 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts expect that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on FSLR shares. Robert W. Baird dropped their price target on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. UBS Group boosted their target price on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Barclays raised 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. Susquehanna cut their price objective on shares of First Solar from $285.00 to $280.00 and set a “positive” rating for the company in a report on Wednesday. Finally, Bank of America lowered their target price on shares of First Solar from $343.00 to $321.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $287.75.

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.