Northwest & Ethical Investments L.P. Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Northwest & Ethical Investments L.P. purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 600 shares of the solar cell manufacturer’s stock, valued at approximately $106,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clear Harbor Asset Management LLC increased its holdings in shares of First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after purchasing an additional 55 shares during the period. Doliver Advisors LP increased its stake in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after acquiring an additional 56 shares during the period. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after acquiring an additional 63 shares during the period. Finally, Mutual Advisors LLC grew its holdings in shares of First Solar by 5.3% during the 4th 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. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Georges Antoun sold 229 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Barclays reduced their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Robert W. Baird lowered their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

NASDAQ:FSLR opened at $131.32 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The company has a 50 day simple moving average of $156.26 and a two-hundred day simple moving average of $188.05. The company has a market capitalization of $14.06 billion, a PE ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current 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.