Tidal Investments LLC Sells 357 Shares of First Solar, Inc. (NASDAQ:FSLR)

Tidal Investments LLC reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,133 shares of the solar cell manufacturer’s stock after selling 357 shares during the quarter. Tidal Investments LLC’s holdings in First Solar were worth $4,242,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Great Diamond Partners LLC grew its stake in First Solar by 3.8% during the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after buying an additional 53 shares in the last quarter. Family Legacy Inc. increased its stake in First Solar by 1.4% in the first quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock valued at $836,000 after acquiring an additional 69 shares during the last quarter. Harbor Investment Advisory LLC raised its position in First Solar by 36.0% during the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock valued at $46,000 after purchasing an additional 72 shares in the last quarter. Atticus Wealth Management LLC lifted its stake in First Solar by 15.6% during the first quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock worth $90,000 after purchasing an additional 72 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of First Solar by 10.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 765 shares of the solar cell manufacturer’s stock valued at $129,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several recent analyst reports. Mizuho restated a “neutral” rating and set a $274.00 price objective (up from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Guggenheim lowered their price objective on shares of First Solar from $359.00 to $356.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Susquehanna raised their target price on shares of First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their target price on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.00.

First Solar Stock Up 1.5 %

NASDAQ FSLR traded up $3.36 on Friday, hitting $221.86. 227,061 shares of the company were exchanged, compared to its average volume of 2,527,447. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $23.75 billion, a PE ratio of 22.90, a PEG ratio of 0.28 and a beta of 1.44. The stock has a fifty day moving average of $246.34 and a 200-day moving average of $194.21.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 18.15% and a net margin of 31.98%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same period last year, the business posted $1.85 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, analysts forecast that First Solar, Inc. will post 13.56 earnings per share for the current year.

Insider Activity

In other news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other First Solar news, Director R Craig Kennedy sold 2,000 shares of First Solar stock in a transaction on Monday, May 6th. The shares were sold at an average price of $196.73, for a total transaction of $393,460.00. Following the transaction, the director now directly owns 13,908 shares of the company’s stock, valued at approximately $2,736,120.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The disclosure for this sale can be found here. Insiders sold a total of 51,153 shares of company stock worth $12,540,428 over the last quarter. 0.58% of the stock is currently owned by corporate insiders.

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.