Hel Ved Capital Management Ltd Makes New $2.19 Million Investment in First Solar, Inc. (NASDAQ:FSLR)

Hel Ved Capital Management Ltd bought a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,450 shares of the solar cell manufacturer’s stock, valued at approximately $2,194,000.

A number of other institutional investors also recently bought and sold shares of FSLR. Norges Bank purchased a new position in First Solar in the fourth quarter worth approximately $317,399,000. Wellington Management Group LLP lifted its holdings in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares during the last quarter. Mirova US LLC lifted its stake in First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after acquiring an additional 585,394 shares in the last quarter. Amundi grew its position in First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after acquiring an additional 426,797 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in First Solar by 110.4% during the fourth quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock worth $66,092,000 after purchasing an additional 196,744 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares of the company’s stock, valued at $14,492,640. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by company insiders.

First Solar Stock Performance

NASDAQ FSLR opened at $128.69 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $145.44 and its two-hundred day moving average is $181.88. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 12-month low of $120.60 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FSLR. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research report on Thursday, February 27th. Morgan Stanley lowered their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Piper Sandler cut their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Barclays dropped their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned 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 a consensus rating of “Moderate Buy” and an average price target of $260.42.

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.