AlphaQuest LLC Buys 1,030 Shares of First Solar, Inc. (NASDAQ:FSLR)

AlphaQuest LLC boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1,355.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,106 shares of the solar cell manufacturer’s stock after purchasing an additional 1,030 shares during the period. AlphaQuest LLC’s holdings in First Solar were worth $195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSLR. Strengthening Families & Communities LLC bought a new position in First Solar during the third quarter valued at approximately $25,000. Larson Financial Group LLC raised its position in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC raised its position in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the period. Crews Bank & Trust bought a new position in First Solar in the fourth quarter worth approximately $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in First Solar in the fourth quarter worth approximately $53,000. Institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the sale, the chief executive officer now owns 109,000 shares in the company, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the sale, the insider now owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This represents a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,739 shares of company stock worth $4,289,403 in the last 90 days. 0.58% of the stock is owned by corporate insiders.

First Solar Price Performance

First Solar stock opened at $132.51 on Monday. The firm has a 50-day moving average price of $162.48 and a 200-day moving average price of $191.07. The firm has a market capitalization of $14.19 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analyst Weigh In

FSLR has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price target (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Robert W. Baird reduced their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Roth Mkm reissued a “buy” rating and issued a $280.00 price objective on shares of First Solar in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $262.08.

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.