Wahed Invest LLC Purchases 105 Shares of First Solar, Inc. (NASDAQ:FSLR)

Wahed Invest LLC raised its position in First Solar, Inc. (NASDAQ:FSLR) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,811 shares of the solar cell manufacturer’s stock after buying an additional 105 shares during the quarter. Wahed Invest LLC’s holdings in First Solar were worth $312,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after purchasing an additional 279,424 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of First Solar by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock valued at $369,024,000 after purchasing an additional 211,755 shares during the last quarter. Norges Bank bought a new stake in shares of First Solar during the 4th quarter valued at approximately $298,123,000. Finally, Clean Energy Transition LLP boosted its position in First Solar by 948.8% during the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after buying an additional 1,073,500 shares during the period. 92.08% of the stock is owned by institutional investors.

First Solar Stock Down 4.5 %

Shares of NASDAQ FSLR opened at $261.33 on Tuesday. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The firm’s 50 day simple moving average is $217.49 and its two-hundred day simple moving average is $178.13. The stock has a market capitalization of $27.97 billion, a P/E ratio of 27.39, a PEG ratio of 0.36 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company’s revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, analysts expect that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of recent analyst reports. Mizuho restated a “neutral” rating and issued a $274.00 price target (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Barclays boosted their target price on shares of First Solar from $227.00 to $228.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. DZ Bank lowered shares of First Solar from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research note on Wednesday, May 29th. Finally, Piper Sandler boosted their price target on shares of First Solar from $195.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $265.72.

Insiders Place Their Bets

In other news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $169.72, for a total value of $407,328.00. Following the transaction, the insider now owns 39,812 shares in the company, valued at $6,756,892.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Solar news, insider Georges Antoun sold 2,400 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $169.72, for a total transaction of $407,328.00. Following the completion of the sale, the insider now owns 39,812 shares of the company’s stock, valued at approximately $6,756,892.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Alexander R. Bradley sold 16,051 shares of the company’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 of the company’s stock, valued at $8,419,797.88. The disclosure for this sale can be found here. Insiders have sold 56,269 shares of company stock valued at $13,287,671 in the last ninety days. Company insiders own 0.58% of the company’s stock.

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.