SCP Investment LP Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

SCP Investment LP raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 249.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,588 shares of the solar cell manufacturer’s stock after purchasing an additional 9,700 shares during the quarter. First Solar accounts for approximately 1.8% of SCP Investment LP’s portfolio, making the stock its 9th largest position. SCP Investment LP’s holdings in First Solar were worth $2,395,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FSLR. Cerity Partners LLC increased its holdings in First Solar by 60.0% during the 3rd quarter. Cerity Partners LLC now owns 7,457 shares of the solar cell manufacturer’s stock worth $1,860,000 after purchasing an additional 2,796 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in First Solar during the third quarter worth $360,000. The Manufacturers Life Insurance Company grew its holdings in First Solar by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 80,271 shares of the solar cell manufacturer’s stock worth $20,036,000 after buying an additional 1,479 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new stake in First Solar in the 3rd quarter valued at $240,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR stock opened at $127.32 on Friday. The business’s fifty day moving average is $150.28 and its 200 day moving average is $185.17. 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 stock has a market cap of $13.63 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a twelve month low of $124.32 and a twelve month high of $306.77.

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

Insider Transactions at First Solar

In other First Solar news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the sale, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 in the last ninety days. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Royal Bank of Canada dropped their target price on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird decreased their price target 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, Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Four research 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 stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

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.