Altus Wealth Group LLC Cuts Stake in First Solar, Inc. (NASDAQ:FSLR)

Altus Wealth Group LLC lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,930 shares of the solar cell manufacturer’s stock after selling 234 shares during the quarter. Altus Wealth Group LLC’s holdings in First Solar were worth $481,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of FSLR. Electron Capital Partners LLC grew its stake in shares of First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after acquiring an additional 279,719 shares in the last quarter. Anomaly Capital Management LP purchased a new position in First Solar during the 2nd quarter valued at about $53,752,000. Canada Pension Plan Investment Board increased its holdings in First Solar by 2,429.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock valued at $39,350,000 after acquiring an additional 167,629 shares in the last quarter. Finally, Forest Avenue Capital Management LP purchased a new position in First Solar during the 2nd quarter valued at about $30,962,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FSLR shares. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Truist Financial started coverage on shares of First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $315.00 target price on shares of First Solar in a research report on Wednesday, July 31st. Finally, Barclays raised their target price on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $288.46.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by insiders.

First Solar Price Performance

FSLR stock traded down $5.99 during trading on Wednesday, hitting $195.41. The company had a trading volume of 1,045,635 shares, compared to its average volume of 2,379,374. The firm has a market capitalization of $20.92 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 0.38 and a beta of 1.44. The business has a 50 day moving average of $225.93 and a 200 day moving average of $223.58. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the prior year, the company posted $1.85 earnings per share. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, research analysts predict that First Solar, Inc. will post 13.53 earnings per share for the current year.

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.