SPX Gestao de Recursos Ltda Invests $2.64 Million in First Solar, Inc. (NASDAQ:FSLR)

SPX Gestao de Recursos Ltda acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,000 shares of the solar cell manufacturer’s stock, valued at approximately $2,644,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC increased its stake in First Solar by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after buying an additional 55 shares during the period. Doliver Advisors LP boosted its holdings in shares of First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after acquiring an additional 56 shares in the last quarter. Sigma Planning Corp boosted its holdings in shares of First Solar by 4.8% in the third quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock valued at $362,000 after acquiring an additional 67 shares in the last quarter. Mutual Advisors LLC raised its holdings in First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after purchasing an additional 73 shares in the last quarter. Finally, BCGM Wealth Management LLC lifted its position in First Solar by 1.1% in the third quarter. BCGM Wealth Management LLC now owns 6,696 shares of the solar cell manufacturer’s stock worth $1,670,000 after purchasing an additional 76 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FSLR shares. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Roth Mkm restated a “buy” rating and set a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. Finally, UBS Group decreased their price target on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Four investment 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 company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $262.08.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 419 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 value of $55,710.24. Following the completion of the sale, the insider now owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This trade represents a 8.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 1,272 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 109,000 shares in the company, valued at $14,492,640. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,739 shares of company stock valued at $4,289,403. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

NASDAQ:FSLR opened at $133.11 on Tuesday. The stock has a market cap of $14.25 billion, a P/E ratio of 11.47, a PEG ratio of 0.19 and a beta of 1.52. 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 business’s 50-day moving average price is $166.18 and its two-hundred day moving average price is $193.80. First Solar, Inc. has a twelve month low of $124.96 and a twelve month high of $306.77.

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

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.