Adams Natural Resources Fund Inc. Takes $3.77 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Adams Natural Resources Fund Inc. acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, HoldingsChannel reports. The fund acquired 15,100 shares of the solar cell manufacturer’s stock, valued at approximately $3,767,000.

Other large investors also recently made changes to their positions in the company. AlphaMark Advisors LLC acquired a new stake in shares of First Solar in the 3rd quarter valued at approximately $25,000. Atlas Capital Advisors LLC lifted its holdings in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the last quarter. Summit Securities Group LLC acquired a new stake in First Solar during the 2nd quarter valued at $36,000. Itau Unibanco Holding S.A. acquired a new stake in First Solar during the 2nd quarter valued at $38,000. Finally, Alta Advisers Ltd acquired a new stake in First Solar during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock valued at $2,405,757 over the last ninety days. 0.58% of the stock is owned by company insiders.

First Solar Stock Performance

First Solar stock opened at $199.67 on Wednesday. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $223.18 and its two-hundred day moving average price is $224.11. The stock has a market cap of $21.37 billion, a PE ratio of 20.93, a P/E/G ratio of 0.34 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business’s revenue was up 10.7% on a year-over-year basis. As a group, analysts expect that First Solar, Inc. will post 13.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FSLR. Roth Mkm cut their price target on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Jefferies Financial Group cut their price target on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a report on Thursday, August 1st. Truist Financial began coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. Finally, Susquehanna dropped their target price on First Solar from $285.00 to $280.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $289.46.

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.