Avantax Advisory Services Inc. Boosts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Avantax Advisory Services Inc. increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 105.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,210 shares of the solar cell manufacturer’s stock after buying an additional 2,675 shares during the period. Avantax Advisory Services Inc.’s holdings in First Solar were worth $918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its position in First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after acquiring an additional 55 shares during the period. Doliver Advisors LP boosted its stake in shares of First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after acquiring an additional 56 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the last quarter. Independent Advisor Alliance grew its stake in First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after acquiring an additional 63 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 0.7 %

FSLR opened at $128.46 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77. The business’s 50-day simple moving average is $157.42 and its 200-day simple moving average is $188.89. The stock has a market capitalization of $13.75 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FSLR shares. Wells Fargo & Company lowered their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Piper Sandler reduced their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 target price on First Solar in a research note on Thursday, February 27th. Finally, Truist Financial reiterated a “buy” rating and set a $285.00 price target (down from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $262.08.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by insiders.

About First Solar

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.